What to Trade on August 22–26?
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)…
What moves the market on May 8?
Yesterday we got a poor data from the USA. There were 3.2 million new jobless claims, less than on the prior week, but more than analysts anticipated. That means, in total, it’s already 33.5 million people lost their jobs during the coronavirus. That’s terrible.
So, today we are waiting for non-farm payrolls at 15.30 MT time. It’s expected the worst ever. That means, Japanese Yen and Swiss Franc can gain against the US dollar today. However, if numbers are in line with expectations –USD could rally. The best you can do is to sell ahead of the report and close before or wait for the numbers to be released, prices to stabilize and see what becomes the real move of the day.
Now EUR/USD gains ahead of critical Non-Farm Payrolls. It recovered from 1.0765 yesterday and rose above 1.0800. There are several resistance levels on the H4. The pair has to rise above 1.0885 to get a chance to rise to 1.0965. Support is at 1.0775.
And now, for the good news, countries made first steps to reopen their economies, based on that, risky assets will continue to recover. The Australian and New Zealand dollars went up because of the encouraging Australian and Chinese trade data.
The pound also climbed. The Bank of England left its bond purchase program and interest rates unchanged, but they are ready to ease further. GBP/USD needs to rise above 1.24 for bulls to regain power.
S&P 500 futures hit their session highs after reports that China and the US had a phone call on trade. The yuan moved up.
Elsewhere, oil is benefiting from the improvement in the risk appetite. Yesterday the were wild price swings as investors weighed supply-and-demand fundamentals against Saudi Arabia’s global price hike.
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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!
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Assets Won’t Survive This Week
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Post-Fed Releases for USD & CAD Traders
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
FED and BOE Make Another Attempt to Beat Inflation
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.
