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 October 25
GfK Consumer Confidence – 08:00 MT (06:00 GMT)
Ifo Business Climate – 10:00 MT (08:00 GMT)
European trading session started today on a bullish move. GfK Consumer confidence index came out just slightly lower than the previous mark. Ifo Business Climate index proved exactly the same as in the month before, continuing a gradual rise. On the H1 chart of EUR/USD we have local support at 1.1096. Traders need to watch out for this level not to be broken. If the rising trend reverts and the downward movement is indicated, the next support may be placed at 1.1067. If the trend continues upward direction, the nearest resistance level may be set at 1.1134. If this level is passed, the next threshold may be located at 1.11514 with the midterm resistance at 1.1117.
On the USD/JPY H1 chart we see that dollar is experiencing continuous volatility. If the support level at 108.50 is broken, the next support may be located at 108.31. If the trend shows bullish potential, the resistance level to be watched is 108.71. If it is passed, the next threshold may be placed at 108.87.
This week started on the bullish note for gold. If it continues the same trend, the resistance level to be watched is 1508.20. If it is broken, the next level may be placed at 1515.38 for upward direction. If the quote reverts into downward direction, the first support is at 1500.91. Further levels for the bearish move may be located at 1491.77, 1488.64 and 1482.92.
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.