How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
Market updates on November 15
US retail sales and core retail sales – 15:30 MT time (12:30 GMT)
During the Asian trading session, the White House economic adviser Larry Kudlow announced the positive progress in phase one trade deal with China. It increased the risk-on sentiment in the market.
- USD/JPY took advantage of the news and has risen higher. The pair has tested the 108.6 level on H4. If bulls manage to break this level, the next resistance will lie at 108.7. After that, reaching the 108.78 level (100-period SMA) will be possible. From the downside, bears will be looking for a breakout of the 108.51 level. If it happens, the chance of falling towards the 108.42 level will increase. The next support will lie at 108.28.
- The price of gold has bounced from the 50-period SMA on H4 and moved lower. Since the beginning of the trading session, it has slid towards the support at $1,461. If this level is broken, the next support will be placed at $1,457.6. From the upside, if gold’s price rises above the $1,466, the next key level will lie at $1,471 (50-period SMA).
- EUR/USD is awaiting the release of indicators of US headline and core retail sales. According to the forecasts, the former indicator will advance by 0.1%, while the latter is expected to increase by 0.3%. If the actual figures outperform the forecasts, the euro will fall below the 1.1015 level on H4 and will likely test the support at 1.1003. On the other hand, if the figures disappoint, the breakout of the current resistance at 1.1025 will occur and may drive EUR/USD up to the 1.1034 level.
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.