Market updates on October 25

Market updates on October 25

Key events

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.

EURUSDH1 25Oct.png

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.



Strong USD on Tuesday
Strong USD on Tuesday

The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.

Latest news

USD starts the week with gains
USD starts the week with gains

Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

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