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)…
Poor US jobless claims shocked investors
The number of Americans asking for new unemployment benefits unexpectedly jumped last week: 770,000 vs the expected 704,000. It seems that everything has been done to improve the indicators of the labor market: $1.9 trillion stimulus package was unveiled and the vaccination pace was really fast. Thus, the fact that the numbers came out worse than anticipated surprised investors.
As a rule, the poor data weakens the currency. But despite this rule, the USD surged and pressed down its peers. EUR/USD has broken through the 50-period moving average of 1.1915, clearing the way down to the recent lows of 1.1890. The move below this support will press the pair down to the low of March 10 at 1.1870. On the flip side, if it jumps above the high of March 15 at 1.1955, it may rise to the 38.2% Fibonacci level at 1.1990.
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.