US Dollar Prepares for the Pump

US Dollar Prepares for the Pump

Good morning, dear traders! Are you ready for a new trading day? Let’s see what news can shake the market today. 

Today’s key events

15:30 GMT+2, Canadian GDP m/m

15:30 GMT+2, Core PCE Price Index m/m

The US dollar index formed a bullish pattern ahead of the Core PCE Price Index m/m

US dollar index, monthly timeframe


The US dollar index declined to a significant support level on the monthly timeframe. Without a doubt, sellers won't break this level straight away. Thus, we expect a reversal to happen. 

US dollar index, H4 timeframe


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. 

Other important news:

  • Rally in Chinese stocks fizzles amid a rise in Covid cases, even as authorities say they are easing restrictions.
  • Musk said that within two years, he does not plan to sell shares of Tesla. He also stated that the company is considering a buyback.
  • Reports appeared online that Binance is actively negotiating with potential new investors, including Warren Buffett's Berkshire Hathaway, for new funding rounds, which should provide support and trust in the exchange.
  • EURUSD broke below the 50-period moving average and retested it. The price might decline to 1.0580 today.
  • The US stock market reacted in two ways to yesterday's good data on GDP and unemployment. The Santa Rally should have started already, but there is no reason for growth so far.
  • The Bank of Japan discussed the abandonment of ultra-low interest rates.

Have a great day!


USD Holds the Line
USD Holds the Line

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. 

Uptrend in Gold Starts Now
Uptrend in Gold Starts Now

Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!

Latest news

Increased Volatility is Coming
Increased Volatility is Coming

The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.

Market Crash Incoming?
Market Crash Incoming?

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.

What Currency Will Overperform?
What Currency Will Overperform?

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.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera