ONLINE FOREX BROKER
US PCE Price Index will be out on Friday at 15:30 MT. This indicator is similar to the US inflation data. The only difference is that it only measures goods and services targeted towards and consumed by individuals. There is one rumor among traders. They say PCE Price Index is the Federal Reserve's favorite inflation measure. Since the Fed’s policy actions and US inflation are the hottest topics among investors these days, this indicator may attract more attention than usual.
The indicator will have an impact on pairs containing the USD, which is the majority of the currency pairs in the entire Forex market.
Instruments to trade: EUR/USD, AUD/USD, USD/JPY
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.
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.
Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
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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