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)…
Microsoft rocketed, markets calmed down
- Bitcoin is recovering after reaching the one-month low of $28,800.
- The currencies of Australia and New Zealand may drop as the countries imposed tighter coronavirus restrictions.
- Yesterday, Fed Chair Jerome Powell proved his view that the inflation pressures would be temporary. He claimed that the Fed would start tightening the policy only when employment and inflation reach target levels.
- Oil is edging higher after a report showing another decline in US crude stockpiles.
- Microsoft joined Apple in the $2 trillion dollar club! Yesterday, the stock hit a record high of $265.50 as investors await Microsoft’s Windows 11 event.
- Follow PMI reports from the US, UK, and EU throughout the day. The better-than-expected results will lift the currency, while the worse-than-expected numbers will push it down.
EUR/USD has bounced off the lower trend line. It has even managed to break the psychological mark of 1.1900 but stopped ahead of the next round number of 1.1950. If it crosses it finally, the way up to the 200-day moving average of 1.2000 will be open. Support levels are Monday’s low of 1.1840 and early April low of 1.1750.
XAU/USD has reversed up from the 61.8% Fibonacci retracement level of $1770. If it manages to break the resistance level of $1800 at the 50% Fibo level and the 100-day MA, gold may surge to $1825. On the flip side, the move below the $1770 support will press the metal down to early April lows of $1735.
XBR/USD (Brent oil) is rallying up. If the bullish momentum sustains, crude oil may reach the psychological mark of $75. Support levels are at the recent lows of $72.00 and $71.00.
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!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
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.