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)…
Monday News: Commodities Price Issues
While Russia is becoming an economic outcast despite its rich commodities, the rest of the world is starting to feel the effects of the sanctions.
XBR rose 10% after briefly hitting $139 a barrel. The resistance now is 130.00, the support is 123.80.
High energy prices threaten to dampen global growth, and this risk is causing market turmoil.
Palladium and copper hit historic highs, for example, palladium is $3000. Gold retreated to $1980 after touching $2000.
Grain, metals and energy have risen on fears of chaos in the flow of raw materials due to the invasion and sanctions against Russia, which turn the resource giant into a global outcast.
Commodity-linked currencies, such as the Australian dollar, have strengthened. Now it’s on $0.74260 level.
A growing number of companies have curtailed their operations in Russia, including streaming giant Netflix Inc. and social media service TikTok, owned by China's ByteDance Ltd.
CHF retreated against the dollar after a board member of the Swiss National Bank said it was ready to intervene to stop the rapid advance. USDCHF is approximately $0.92075.
Have a good trading day!
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The US will announce the advanced Gross Domestic Product (GDP) on July 28 at 15:30 MT time.
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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.
Will the UK and US Cope with Inflation?
Every week we expect many interesting events that can shake the market.
