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.
Tuesday News: Tension is Rising
The consequences of Russian sanction have influenced all over the worlds. The commodities question has become crucial, especially for Europe, however as for the US, it doesn’t seem a problem.
Brent Futures crude reached $137 a barrel, the highest price since July 2008.
Gold futures rose above $2,000 an ounce for the first time in 18 months. The resistance now is $2022.50 and the support is $1975.
JPMorgan Chase & Co. said it would remove Russian bonds from all of its widely tracked indices, further isolating the country's assets from global investors.
The Biden administration is considering a possible ban on oil imports from Russia to the US, but "no decision has been made at this time," an administration official told Fox News.
The S&P 500 fell nearly 3%, its worst day since October 2020, while the high-tech Nasdaq 100 dropped 3.7% and the Nasdaq Composite closed in bear market territory.
Here are some highlights from this week:
- Apple new products event on Tuesday.
- China aggregate financing, PPI, CPI, money Supply, CNY New Loans on Wednesday
- Statement by Reserve Bank of Australia governor Philip Lowe on Wednesday and Friday
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…