What will move the market on January 31-February 4?

What will move the market on January 31-February 4?

The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?

Forex 

The US dollar strengthened to the highs of June 2020. The greenback was pushed by the Federal Reserve that announced its plans to fight surging inflation. To do that, the regulator aims to start raising interest rates sooner and provide faster tapering. EUR/USD broke the 1.12 level on the news and slid closer to 1.11. The pair awaits the meeting by the European Central Bank (ECB) and nonfarm payrolls. If the USD keeps getting stronger, the next support will lie at 1.1050. On the upside, there is a resistance of 1.1220. The cable will be affected by the news as well, as the Bank of England holds a meeting this Thursday. Its hawkish comments will push GBP/USD to 1.3570. Otherwise, follow the support of 1.3300.

Stocks

Last week, we saw interesting movements on the stock charts of Tesla and Intel. Stocks of both companies were pressed by the comments on delivery problems in their earnings releases. However, the release of Apple at the end of the week brightened up the mood of bulls. This week, we await the quarterly data of General Motors, Alphabet, Alibaba, eBay, Facebook, Amazon, and Ford Motor. Follow the releases in the economic calendar, and don't forget the main rule for trading on earnings reports: if the actual data is better than the forecasts, the stock will go up.

Oil & gold

The oil prices were trading at their highs of 2014 at the end of the last week. Both Brent and WTI moved closer to $90 amid the US-Russia tension and the fear concerning the spread of omicron. If you trade oil, follow the OPEC+ meeting, where the oil-producing countries will consider the need in its previously agreed plan to boost production. If they agree to cut it, Brent will fall to $84.40, and WTI will move lower to its closest support of $81.50. As for gold, it remains under pressure, with the key support at $1770.

TRADE NOW

Similar

Tensions Over Debt Ceiling Rise
Tensions Over Debt Ceiling Rise

The Chinese economy is slowing down, while a risk that politicians will not be able to agree regarding the US national debt increases. Read the full statement to learn more!

Latest news

No More US Debts in Sight
No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

Gold Rises as Central Banks Buy More
Gold Rises as Central Banks Buy More

About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.

US Evades Default This Time
US Evades Default This Time

Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!

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.

Callback

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