USD Gains Momentum
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
Volatility is Everywhere
This day should be active, and traders are waiting for today’s Canadian CPI release at 15:30 GMT+3. The annual inflation is expected to be 4.8%, the same as last month. Monthly changes are expected to be-0.1% vs. -0.3% previously. Canadian dollar will surely be volatile.
Oil is shaking
Oil rose from a two-week low on fears that the latest European Union sanctions on Russian fuel could exacerbate market tensions. In addition, the Biden administration will announce a plan to release 15 million barrels of US emergency oil supplies on Wednesday to ease high gasoline prices.
XBRUSD is continuing its short-term downtrend, decreasing between two trendlines. The price might fall to $88 soon. In case of reversal, the price may reach $90.50 and head to $95.30.
Other important news to follow:
- Inflation in the UK turned out to be higher than expected. UK CPI year by year was 10.1%, the forecast was 10%, and the previous was 9.9%. GBPUSD is 1.1260.
- Apple announced plans of cutting production of the iPhone 14 Plus. After this news, Apple stock fell by 4%.
- Netflix reported an increase in subscribers and exceeded earnings expectations. Its stock is up by 15%.
- Bitcoin and Ethereum fell amid news that the European Union is considering a bill to limit the mining of energy-intensive cryptocurrencies like Bitcoin. BTCSUSD is 19100.
Have a fantastic trading day!
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