
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
If we look at the daily chart of the US dollar index, the index is trading within a range after the massive fall on November 1. On H1, yesterday’s falls during the day made the price to test the support at 95.72. However, it managed to rebound. The next strong resistance lies at 96.35. If the FOMC comments are hawkish, it can stick above 96.35. Otherwise, it can fall below 95.72.
How will it affect EUR/USD, GBP/USD, USD/JPY and gold?
However, new uncertainties keep coming from the news, affecting the pair. Today, EU chief Brexit negotiator Michel Barnier said they won’t soften their views on the Irish border backstop, until Theresa May works out a decent solution. According to the latest news, May asked European officials to give her more time to complete a deal with Cabinet members. More uncertainties will pull the cable down to the support at 100-day MA at 1.3105. Positive news, on the other side, will help the pair to rise upwards to the resistance at 1.3248.
In other news:
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
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?
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
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