
The British monthly GDP is announced on Friday at 09:00 MT time.
American ISM Manufacturing PMI – 17:00 MT time (14:00 GMT)
The EURUSD pair keeps struggling. On the daily chart, it has already crossed the support at 1.0965 targeting new lows. For intraday trading, we need to consider the H4 chart. The next support is at 1.0934. A break below it will cause a decline to 1.0887. If the actual release of ISM Manufacturing PMI is weaker than the forecast, there is a chance that the fall will be limited. If the pair is able to recover, previous supports will become levels of resistance.
Parliament is due to debate an emergency plan to take control of the legislation to stop a no-deal Brexit on October 31.
On the daily chart of GBPUSD, the pair hit the crucial level of 1.20. Although such indicators as MACD and Awesome Oscillator signal a reversal, the pair has been slowing down. The next support is at 1.1986. If the pair closes below it, we can anticipate a further fall. A rebound will push the pair to 1.2020.
The Australian dollar has been strengthening despite weaker actual reading of retail sales data and lack of hawkish comments by the RBA.
On the daily chart of AUDUSD, the pair rebounded from the support at 0.6689. The pair needs to break above 0.6735 to confirm the recovery. However, Moving Averages continue moving down. It signals a possible continuation of the downtrend. Thus, there are risks of the return to 0.6689.
The British monthly GDP is announced on Friday at 09:00 MT time.
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.
The US unemployment claims are out on Thursday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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