#TradingEvents #FinancialNews #Today'sMarkets
Today, attention is focused on two significant events:
1. At 16:00 Moscow Time, the release of Consumer Price Index data for Germany is expected. For more details about the Consumer Price Index, click [here](https://freshforex.org/encyclopedia-forex/consumer-price-index/?utm_source=rssfeed&utm_medium=rss&utm_campaign=rssfun&ff_mrk=rss).
2. At 16:30 Moscow Time, keep an eye on the number of Initial Jobless Claims in the USA.
#EURUSD: Over the last four sessions, the EURUSD pair has maintained a bearish trend. Currently, it has temporarily dropped below the 1.0900 level due to the strengthening of the US dollar. Positive employment data in Germany did not support the euro, which continues to be influenced by the dynamics of the dollar. The subsequent deterioration in the US labor market after unexpectedly low JOLTs data on job openings in November has also played a role.
The US Dollar Index (DXY) has risen to three-week highs, supported by a rebound in US yields. Anticipation surrounds news from the USA following the FOMC meeting in December, where discussions included the possible approach of interest rates to peak levels for the current economic cycle, as well as forecasts for rate cuts by 2024.
Comments from Richmond Fed member T. Barkin about a soft landing for the US economy and the possibility of rate hikes have also impacted the dollar. These factors have reinforced the already strong positions of the dollar in the middle of the week.
#TradingRecommendation: It is recommended to open sell orders in the range of 1.0910 - 1.0880. #Trading #Forex #MarketForecast #EuroDollar
Today, attention is focused on two significant events:
1. At 16:00 Moscow Time, the release of Consumer Price Index data for Germany is expected. For more details about the Consumer Price Index, click [here](https://freshforex.org/encyclopedia-forex/consumer-price-index/?utm_source=rssfeed&utm_medium=rss&utm_campaign=rssfun&ff_mrk=rss).
2. At 16:30 Moscow Time, keep an eye on the number of Initial Jobless Claims in the USA.
#EURUSD: Over the last four sessions, the EURUSD pair has maintained a bearish trend. Currently, it has temporarily dropped below the 1.0900 level due to the strengthening of the US dollar. Positive employment data in Germany did not support the euro, which continues to be influenced by the dynamics of the dollar. The subsequent deterioration in the US labor market after unexpectedly low JOLTs data on job openings in November has also played a role.
The US Dollar Index (DXY) has risen to three-week highs, supported by a rebound in US yields. Anticipation surrounds news from the USA following the FOMC meeting in December, where discussions included the possible approach of interest rates to peak levels for the current economic cycle, as well as forecasts for rate cuts by 2024.
Comments from Richmond Fed member T. Barkin about a soft landing for the US economy and the possibility of rate hikes have also impacted the dollar. These factors have reinforced the already strong positions of the dollar in the middle of the week.
#TradingRecommendation: It is recommended to open sell orders in the range of 1.0910 - 1.0880. #Trading #Forex #MarketForecast #EuroDollar
Important Events Today:
1. At 16:30 Moscow time - U.S. Producer Price Index.
2. At 18:00 Moscow time - FOMC Member Neel Kashkari's speech.
The EURUSD pair maintains a positive trend despite a renewed demand for the U.S. Dollar in the early Asian session on Friday. The pair's growth is supported by a risky environment ahead of key U.S. data releases. At the time of publication, the EUR/USD pair is trading at the level of 1.0977.
On January 11, the U.S. Department of Labor reported that initial claims for unemployment benefits for the week ending January 6 reached the lowest level since mid-October, decreasing by 1,000 to 202,000 from the revised previous week's figure of 203,000. The Consumer Price Index (CPI) in the U.S. for December increased by 3.4% compared to the previous value of 3.1%, surpassing the market consensus forecast of 3.2%. The core CPI, excluding volatile food and energy prices, rose by 3.9% YoY in December, exceeding expectations of 3.8%.
Christine Lagarde, President of the European Central Bank (ECB), stated on Thursday that interest rates would be lowered if the ECB is confident that inflation will decrease to the 2% level. Lagarde added that interest rates in the eurozone have peaked after a rapid rise in response to high inflation last year. Traders anticipate at least five rate cuts in 2024, with the first move expected in March or April.
Today, the U.S. Producer Price Index (PPI) is set to be published, with forecasts indicating a 1.3% growth compared to the same period last year in December. Trading recommendation: Buy from the current price level. For more in-depth analytical reviews, you can visit the FreshForex website.
#FinancialEvents #EURUSD #Indices #Dollar #Inflation #Rates #ECB #TradingRecommendation #ProducerPriceIndex #FreshForex #Analytics
1. At 16:30 Moscow time - U.S. Producer Price Index.
2. At 18:00 Moscow time - FOMC Member Neel Kashkari's speech.
The EURUSD pair maintains a positive trend despite a renewed demand for the U.S. Dollar in the early Asian session on Friday. The pair's growth is supported by a risky environment ahead of key U.S. data releases. At the time of publication, the EUR/USD pair is trading at the level of 1.0977.
On January 11, the U.S. Department of Labor reported that initial claims for unemployment benefits for the week ending January 6 reached the lowest level since mid-October, decreasing by 1,000 to 202,000 from the revised previous week's figure of 203,000. The Consumer Price Index (CPI) in the U.S. for December increased by 3.4% compared to the previous value of 3.1%, surpassing the market consensus forecast of 3.2%. The core CPI, excluding volatile food and energy prices, rose by 3.9% YoY in December, exceeding expectations of 3.8%.
Christine Lagarde, President of the European Central Bank (ECB), stated on Thursday that interest rates would be lowered if the ECB is confident that inflation will decrease to the 2% level. Lagarde added that interest rates in the eurozone have peaked after a rapid rise in response to high inflation last year. Traders anticipate at least five rate cuts in 2024, with the first move expected in March or April.
Today, the U.S. Producer Price Index (PPI) is set to be published, with forecasts indicating a 1.3% growth compared to the same period last year in December. Trading recommendation: Buy from the current price level. For more in-depth analytical reviews, you can visit the FreshForex website.
#FinancialEvents #EURUSD #Indices #Dollar #Inflation #Rates #ECB #TradingRecommendation #ProducerPriceIndex #FreshForex #Analytics
Event to watch today: 18:30 MSK. USD - Crude Oil Inventory Data.
The GBP/USD pair is in focus, oscillating around 1.2710 during the Asian session on Wednesday. After a recent decline, interrupting a four-day winning streak, the British Pound (GBP) found support against the U.S. Dollar (USD). Market risk-on sentiment, fueled by comments from Federal Reserve (FRS) members suggesting a possible rate cut by the end of 2024, contributed to the weakening of the USD. However, a sudden shift in risk aversion sentiment added extra pressure on the GBP/USD pair.
Furthermore, the head of the U.S. Federal Reserve, Michelle W. Bowman, stated that the current policy appears sufficiently tight but may eventually need a rate cut if inflation approaches the 2% target. Recently, the GBP/USD pair has shown strength, primarily influenced by divergences in monetary policies between the Bank of England (BoE) and the U.S. Federal Reserve (FRS). While the BoE maintains its stance on further rate hikes, despite signs of weakening inflation and wage growth, expectations are growing that the FRS might initiate an easing cycle as early as March.
Trading recommendation: Keep a close eye on the 1.2700 level.
#GBPUSD #CrudeOil #FRS #BankofEngland #InterestRates #Inflation #TradingRecommendation #Finance #Forex #CurrencyPairs
The GBP/USD pair is in focus, oscillating around 1.2710 during the Asian session on Wednesday. After a recent decline, interrupting a four-day winning streak, the British Pound (GBP) found support against the U.S. Dollar (USD). Market risk-on sentiment, fueled by comments from Federal Reserve (FRS) members suggesting a possible rate cut by the end of 2024, contributed to the weakening of the USD. However, a sudden shift in risk aversion sentiment added extra pressure on the GBP/USD pair.
Furthermore, the head of the U.S. Federal Reserve, Michelle W. Bowman, stated that the current policy appears sufficiently tight but may eventually need a rate cut if inflation approaches the 2% target. Recently, the GBP/USD pair has shown strength, primarily influenced by divergences in monetary policies between the Bank of England (BoE) and the U.S. Federal Reserve (FRS). While the BoE maintains its stance on further rate hikes, despite signs of weakening inflation and wage growth, expectations are growing that the FRS might initiate an easing cycle as early as March.
Trading recommendation: Keep a close eye on the 1.2700 level.
#GBPUSD #CrudeOil #FRS #BankofEngland #InterestRates #Inflation #TradingRecommendation #Finance #Forex #CurrencyPairs
"GBP/USD: Impact of Consumer Price Index on Pair Movement"
The GBP/USD pair hopes to strengthen its position after a good rebound from levels below 1.2600. The increase in the Consumer Price Index (CPI) in the UK in December served as the basis for this upward movement. The report showed a rise to 4.0%, the first increase in 10 months.
The market assesses the probability of a Bank of England (BoE) interest rate cut in May at around 60%, compared to over 80% the previous Tuesday. This, in turn, supports the British pound. The decline in the US dollar after its recent surge also contributes to the pair's strength.
Trading recommendation: Primarily trade on sell (Sell), monitor the level of 1.2700. Important macroeconomic news today may affect GBP/USD.
#Forex #GBPUSD #BoE #CPI #TradingRecommendation
The GBP/USD pair hopes to strengthen its position after a good rebound from levels below 1.2600. The increase in the Consumer Price Index (CPI) in the UK in December served as the basis for this upward movement. The report showed a rise to 4.0%, the first increase in 10 months.
The market assesses the probability of a Bank of England (BoE) interest rate cut in May at around 60%, compared to over 80% the previous Tuesday. This, in turn, supports the British pound. The decline in the US dollar after its recent surge also contributes to the pair's strength.
Trading recommendation: Primarily trade on sell (Sell), monitor the level of 1.2700. Important macroeconomic news today may affect GBP/USD.
#Forex #GBPUSD #BoE #CPI #TradingRecommendation