
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
The Bank of Canada and the European Central Bank held meetings last week. Both regulators upgraded economic forecasts, but the ECB didn’t talk about monetary tapering. That makes the CAD stronger than the EUR. Now all eyes are turning to the Federal Reserve and the US dollar.
In our opinion, gold offers one of the best opportunities to trade on the US data releases and the Fed. American inflation jumped to the highest level since August 2008. However, the Federal Reserve keeps saying that the rise in prices is only temporary, so there is no need to act. If the central bank sticks to this view on Wednesday, XAU/USD will get green light for the further advance. If the Fed uses its press conference as a chance to announce a shift in its mood, gold will decline.
The most popular currency pair keeps trading between 1.22 and 1.21. The Fed’s meeting will determine whether it manages to stay within the medium-term uptrend or moves lower. Overall, the strength of the single currency will be put to test.
Keep an eye on the pairs with the pound, such as EUR/GBP, GBP/JPY, and GBP/USD. If the tensions between the EU and the UK subside, the British currency should enjoy a boost.
Oil price optimism has been increasing in recent weeks. Brent rose to levels above $72. It seems that Iranian oil won’t return to the market soon and the demand is recovering. With the increase of the Coronavirus cases being the main risk for the bullish scenario, we turn our eyes to higher levels.
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!