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 28
- EUR/USD has been making confident steps towards the 1.1106 level on the 4-hour chart. If bears take over the market, the may pull the pair below the 1.1090 level. This scenario will increase the chances of a retest of the 1.1072 support level from October 25. In this case, the downward movement, which is confirmed by Parabolic SAR, may be resumed.
- The news that Brexit would be delayed until January 31, 2020 did not stop the consolidation of GBP/USD on the H4. The upper border of the range is placed at 1.2860. After that, further upside momentum may be limited by the 1.2876 level (50-period SMA). On the chart, you can see that this level lies close to the upper border of the short-term descending channel. As far as buyers overcome this border, the retest of tops from October 24th at 2.2927 seems likely. Bears will be eyeing the support at the lower border of the consolidation range (1.2807). The next key level for them will be placed at 1.2785.
- The gold is also trading sideways between the $1,506 and $1,503 levels. The breakout to the upside may lead bulls to move towards the $1,509 boundary. On the contrary, the consolidation period may be over with bears crossing the $1,503 level. In this case, the chances of reaching $1,500 are high.
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!
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
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.