ONLINE FOREX BROKER
The release of core durable goods orders today at 15:30 MT time can impact on the further movement of the USD. Analysts expect it to increase by 0.4%. If the actual data outperforms the forecast, it will lift the greenback higher. In that case, the US Dollar index will stick above the 96.69 resistance. The next resistance for the index lies at 97.13. If the actual digits disappoint the market, the USD index will slide towards the support at 95.88.
At first, we anticipate the European Commission to make a decision on the revised Italian budget at 13:00 MT time. For now, the unchanged deficit targets in the budget may trigger worries, as Italy is in breach of the EU law. According to European sources, the public debt cannot be higher than 60% of GDP. However, Italy keeps being skeptical and says the expansionary measures are needed to support the whole European economy. If the European Commission disapproves the proposal, it will have a negative effect on the EUR. EUR/USD will likely to fall below the support at 1.1350. If the pair extends falls, the next support lies at 1.1280. However, if the budget targets are successfully renegotiated, EUR/USD will rise towards the resistance at 1.1487.
If the British pound is supported by the positive Brexit news, it will go upwards to face the 1.2874 resistance. Further uncertainty will drive the cable down to the support at 1.2677.
In addition, today the Iraq Deputy oil minister announced the OPEC will meet to stabilize the crude's prices and supply. Tomorrow they will meet to discuss the oil output cuts.
WTI was slightly lifted by the news. Yesterday it fell below the pivot support at 53.69. News on production cut will help WTI to rise above 53.69 and move towards the resistance at 57.48. If more news on the rising oil supply is published, the further falls will drive the oil price below the 53.69 level. The next support is placed at 50.97 pivot.
Follow us for more news!
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
