
Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
Gold is trying to recover the losses. On the weekly chart, it is moving sideways near the 100-week moving average just below $1760. On the 4-chart, we see that gold has reversed down from the 100-period moving average of $1765 and edging lower to the 50-period MA of $1750, where the metal should stop falling. The breakout below this support level will open the doors to the low of September 23 at $1740. Resistance levels are the 100-period MA of $1765 and the high of September 22 at $1780.
Here is a very strong movement in the JP 225 chart. The Japan index has massively dropped to the 50-week moving average of 28,200, which may stop the index from falling further. If it manages to close below this support level, it will drop to 27,650 – the lows of late August.
Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
Yesterday, the release of the US Inflation rate came out lower than the forecasts (0.1% vs. 0.3%). The soft figures pulled the US dollar index down by almost 1%. At the same time, S&P500, EURUSD, and gold strengthened. Today, the Fed will hold a meeting at 21:00 GMT+3. The Federal Reserve is widely expected to raise the interest rate by 50 basis points.
The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
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.
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