
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.
Morning, traders!
China delays GDP data because of potentially harmful numbers, but we will never delay our news because every release is an opportunity to trade on it! Also, Chinese officials debate cutting the quarantine for newcomers from ten days to seven. USDCNH is down 300 points. Moreover, analysts expect Chinese leader Xi Jinping to get a third term in the Chinese national congress. He may remain the President of China for another four years. which will make him rule for 12 years straight.
The USDJPY surged to the highest level since 1990, touching the critical resistance of 150. We expect sellers to step into the game on the current levels. Also, the Bank of Japan should intervene in the currency rate. Still, there’re no statements from the bank’s members. Meanwhile, BoJ holds an unscheduled bond-buying program for the first time since the plan for Q4 2022.
Sellers need to enter the game and push USDJPY below the rising channel. Double divergence on the RSI shows a lack of momentum, and we expect the pair to reach 148.10 in a couple of days.
Good luck in trading!
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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Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!
The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.
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