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Strong data against Fed’s softness

The November’s strong Retail Sales and Industrial production reports makes harder to Fed to soften its monetary policy stance

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⚠️ News alert!

At 10:00 GMT EU Consumer Price Index will be published. This data may affect EURUSD volatility.

Open your FxPro trading platform to examine the market situation: fxpro.com πŸ‘ˆπŸ»

Trade Responsibly: 79 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
⚠️ News alert!

At 11:00 GMT U.K. CBI Industrial Orders will be published. This data may affect GBPUSD volatility.

Open your FxPro trading platform to examine the market situation: fxpro.com πŸ‘ˆπŸ»

Trade Responsibly: 79 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
⚠️ News alert!

At 13:30 GMT EU U.S. Empire State Manufacturing Index will be published. This data may affect EURUSD volatility.

Open your FxPro trading platform to examine the market situation: fxpro.com πŸ‘ˆπŸ»

Trade Responsibly: 79 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Wave Analysis: Platinum is expected to fall further and re-test the next support level 780.00
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Wave Analysis: AUDCHF is expected to fall further and re-test the next support level 0.7100
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Important upcoming events and publications for December, 18 (GMT):

πŸ‡©πŸ‡ͺ 09:00 German IFO Business Indicator in decline in the preceding 3 months. December data is expected to confirm this trend, dropping from 102 to 101.8. Significant deviations from the forecast can cause a surge in #EUR volatility.

πŸ‡ΊπŸ‡Έ 13:30 US Building Permits are closely monitored by the markets. It is expected that this data will continue the downward trend since March. As the analysts consider, the number of housing starts in November set to remain almost unchanged. Significant deviations from the expectations can seriously affect the #USD quotes.

Visit https://fxpro.news/economic-calendar/ for more details.
Key US indices lost more than 2% on Monday, so the S&P500 closed at the lowest levels since November. Such anxiety, in our opinion, is caused by worries about the Fed's hawkishness, and is also associated with technical factors.
The Fed is able to stop the stock market’s decline

Softening of the Fed’s tone will be a negative factor for USD, and this time it is reasonable to expect that a shift in rhetoric could help beaten stocks, while the dollar may fell under pressure.

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Over the past 24 hours, Bitcoin adds more than 8% and trades around $3,500, showing the strongest rebound in the latest 3 weeks. Along with the growth of the BTC price, trading volumes are also growing, which confirms the serious mood of buyers.
Bitcoin tries to interrupt its race to decline

We observed a similar rebound (albeit not confirmed by volumes) in November but rebound was short-lived and further sale-off push the cryptocurrencies to new multi-month lows.
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Wave Analysis: GBPNZD is expected to fall further and re-test the next support level 1.8150
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Wave Analysis: #WTI is expected to fall further and re-test the next multi-month support level 42.50
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Important upcoming events and publications for December, 19 (GMT):

πŸ‡¬πŸ‡§09:30 UK Consumer Price Index is able to cause a rapid movement of #GBP, in case of deviation from the expectations. Analysts, on average, predict slowdown from 2.4% to 2.3% yoy rate. More dramatic scenario will be considered as a sign of economical problems and will make some negative impact on the pound.

πŸ‡¨πŸ‡¦13:30 Canada Consumer Price Index is able to cause a violent #CAD movement, if the forecast is not released. Sharp slowdown of annual inflation from 2.4% to 1.8% is expected: that will be a sign of a cooling economy and may force the Bank of Canada to be more careful in the interest rates raising.

πŸ›’15:30 US Crude Oil inventories data could have a serious impact on #Brent and #WTI prices. Markets fear of Crude OIl supply glut, which puts pressure on the energy market, causing a more than 5% collapse in prices overnight.

πŸ‡ΊπŸ‡Έ 19:00 The US Fed Rate Decision is a central event of recent days and can cause a surge in global markets volatility - especially in #USD. The rate is expected to increase, but softer tone can support stock market and weaken the dollar's position.

Visit https://fxpro.news/economic-calendar/ for more details.
⚠️ News alert!

At 09:30 GMT U.K. Consumer Price Index will be published. This data may affect GBPUSD volatility.

Open your FxPro trading platform to examine the market situation: fxpro.com πŸ‘ˆπŸ»

Trade Responsibly: 79 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Four Fed scenarios and one market

The dollar index on the decline for the 3rd day in a row amid rumors that the Fed will raise the rate, but would drastically soften its forecasts for monetary policy, inflation and GDP.

Read more on our view of possible scenarios and market reactions to them
Important upcoming events and publications for December, 20 (GMT):

πŸ‡¬πŸ‡§ 09:30 UK Retail Sales are under pressure, partly due to consumer anxiety around Brexit. The average forecast assumes a slowdown from 2.2% in October to 2.0% in November. Deviations from the forecast can have some impact on #GBP: a deeper recession will increase the negative impact on the currency.

πŸ‡¬πŸ‡§12:00 Bank of England monetary policy decision is in the market's focus on Thursday. Although changes are not expected, attention will be drawn to the accompanying statement. Since Brexit is not going smoothly, a more alert tone is expected, potentially affecting pairs with #GBP.

πŸ‡ΊπŸ‡Έ 13:30 U.S. Weekly Jobless Claims can affect the #USD course. Last week we saw , unexpectedly low figures, presumably due to time factors. Fresh data is expected to grow from 206K to 219K, corresponding to the average values ​​of the last three months.

Visit https://fxpro.news/economic-calendar/ for more details.