ONLINE FOREX BROKER
Today the US dollar was not able to stick at the top and fell. Although the US dollar is still near March highs, its depreciation let a lot of currencies recover. Tomorrow a lot of important US economic data will be released. If they are greater than anticipated, the greenback will have chances to turn around and set new highs.
As for the euro, comments of the ECB President Mr. Draghi were mixed. According to Mr. Draghi, the central bank sees the growth as solid and broad based. However, the ECB President remained cautious. EUR/USD showed a high volatility. The resistance is still located around 1.22 (100-day MA). If it closes below 1.2150, risks of the decline to 1.2050 will increase.
No crucial data for the pound were released on Thursday, however, news on the list of demands that the UK government is going to present to Brussels might support the UK currency. The GBP/USD pair managed to rebound from the support at 1.39. If the pair is able to close above the pivot level at 1.3975, it will move to the 50-day MA at 1.4020 that will become a resistance for the further movement. Tomorrow traders will pay attention to Prelim GDP data at 11:30 MT time. The forecast is weaker than the previous data, so, if the actual one is not encouraging, the GBP may move to the support at 1.39.
The USD/JPY pair could not reach its aim at 109.70. Although the pair closed above the upper boundary of the Ichimoku cloud yesterday, it could not go further. USD/JPY is moving to the support at 109. If the pair closes below it, the next aim is 38.2 Fibonacci retracement at 108.50. However, tomorrow the Bank of Japan will release its outlook on the monetary policy. It is well-known that the central bank aims at the continuation of the accommodative policy. So if the bank Governor sounds dovish, the pair may return its upward movement.
Thank you for your attention!
For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.
The higher prices seen today are generally related to the pandemic, that’s no doubt. US consumer prices jumped in October at the fastest pace in three decades putting the Biden administration on the defensive and increasing prospects that the Federal Reserve will raise interest rates next year. Jerome Powell says Fed will discuss speeding up bond-buying taper at the December meeting. What does it mean for markets?
It seems like most of the assets have joined Black Friday's sell-off with global indices, risky currencies, and commodities going down.
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
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In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.
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