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.
Tighter North Korea fuel restrictions won’t affect regime
The United Nation’s fresh sanctions on North Korea will probably hurt ordinary North Koreans in the isolated country rather than suppress Kim Jong-Un’s ability to develop missiles with nuclear warheads capable of reaching America.
On Friday, the UN Security Council approved new measures targeting North Korea’s economy in response to the previous month’s launch of a new intercontinental ballistic missile. Evidently, the fresh restrictions are believed to reduce imports of refined petroleum products, including kerosene and diesel by nearly 90% from January, and also limit shipping as well as impose a 24-month deadline for expatriate North Korean employees to be sent home.
The most probable impact on the deeper reductions in petroleum products will be on sectors, which are absolutely non-significant to the overall survival of the regime. In other words, the incidence of these cuts will heavily impact ordinary North Koreans, while the regime will survey.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
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.
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…