Today the focus is on the US Core CPI and Crude Oil Inventories reports.
US Month-on-Month Core CPI for December will be out. Forecast: 0.5%. A higher-than-expected figure may boost USD.
Assets to trade: GBP/USD, EUR/USD, USD/JPY
US Crude Oil Inventories will be announced. Forecast: -1.950mln. Brent may drop if the actual data is higher than the forecast.
Assets to trade: Brent
The US Fed announced the resignation of its Vice Chairman Richard Clarida on the grounds of his financial transactions at the beginning of the pandemic. Affects USD
A scandal around one of Boris Johnson’s top officials related to violating covid restrictions may cast a shadow on the credibility of the British PM’s team. Affects GBP
Auto sales in China report growth driven by the EV sector to the potential benefit of Tesla as one of the key market makers. Affects Tesla
Deepening discord between the US and Russia around Kazakhstan as a part of larger geopolitical background tension is pressing on the USD.
USD/JPY was deflected by the uptrend’s upper border at 116.00 and now is on the way down. We believe it may drop to 114.00 before it makes another upswing.
Brent is headed upwards. Most probably, it aims at the resistance level of 85.00.
The index is moving within the horizontal channel. Currently, it’s bouncing off its bottom at 15,500. We believe it will move up to 16,500.