Analytics

News, Trends, & Analytics 14.10.2021

Global Recovery Losing Momentum  

Today the focus is on US labor and economic data.

 

Calendar

12:30 UTC

US Initial Jobless Claims will be released. Forecast: 319K. If the data is higher than the forecast, USD may go up.

Assets to trade: GBP/USD, EUR/USD, USD/JPY


12:30 UTC

US Monthly PPI for September will be out. Forecast: 0.6%. If the figure is greater than expected, it may boost USD.

Assets to trade: EUR/USD, USD/CAD, AUD/USD


15:00 UTC

US Crude Oil Inventories will be announced. Forecast: 0.140M. A Higher actual value may drive USD upwards.

Assets to trade: USD/CHF, AUD/USD, NZD/USD

 

News

The UK’s monthly GDP growth rate was 0.4% in August. Affects GBP


China’s oil imports dropped 15% in September over the previous month. Affects Brent


The IMF revised its 2021 global economic growth projection down to 5.9%. Affects Gold

 

Technical Analysis

Gold

Gold may receive a boost from the IMF’s downward revision of the global economic recovery pace.

It has bounced off the support level of 1,720, and bears don’t seem to have enough momentum to drag it downwards from the current 1,760. We believe it will aim at 1,800 in the near future.

USD/CHF

The strong US dollar leaves little doubt that USD/CHF’s uptrend will reach 0.94 soon.

DAX

DAX seems to be picking up. If it crosses the trend resistance at 15,500, it may be a mid-term trend reversal.

Related posts
Analytics

News, Trends, & Analytics 18.09.2020

Today the focus is on the growth of employment in Australia, statements by the US Treasury Secretary, and also — a hint of negative rates in the minutes of the Bank of England. &...