Today at 9:30am UK Time. Retail Sales m/m reflect a change in the UK retail sails in the reported month compared to the previous one. It is used in forecasting, budgeting for UK financial and economic policy. F: 0.5%, P: -0.6%. #GBPUSD may test 1.30
Read MoreEURUSD - Settles Above 1.11 as ECB Adopts Slightly Upbeat Outlook
on January 17, 2020
| By Stuart McPhee
|
EURUSD
In the last week the EURUSD has rallied back off support at the key 1.11 level right back into the middle of its popular trading range between 1.11 and 1.12, where it has spent the best part of the last month. It had moved strongly to close out last year and into the new year moving to a five month high near 1.1250, before easing back into the range. Since the beginning of December, the EURUSD has steadily rallied higher pushing through another current key level of 1.11 which had been providing stiff resistance for several weeks.
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China Gross Domestic Product (GDP) q/q
on January 17, 2020
| By Stuart McPhee
|
China
Today at 2:00am UK Time. China GDP q/q reflects the monetary value of all goods and services produced in China during a given quarter compared to the previous quarter, and is the key indicator of the national economy growth. F:1.4%, P:1.5%.
Read MoreUnited States Retail Sales m/m
on January 16, 2020
| By Stuart McPhee
|
US Dollar
Today at 1:30pm UK time. Retail Sales m/m reflect a change in the US retail sails in the reported month compared to the previous one. The indicator is used for estimating inflation. F: 0.3%, P: 0.2%.
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In the last week gold has eased a little from its seven year highs above $1600 from last week however it has found some support around $1550. In the last two weeks or so gold surged very strongly to its highest level in seven years above $1610, after it exploded through the key $1500 level, which had been a significant level for several months. Gold has been quite volatile in the last two weeks with the explosive moves as there would have been a lot of profit taking from the multi-year highs.
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EIA United States Crude Oil Stocks Change
on January 15, 2020
| By Stuart McPhee
|
UKOil
Today at 3:30pm UK time. The EIA Crude Oil Stocks Change Indicator measures the number of barrels of commercial crude oil held by US companies. It is one of the indicators affecting world oil prices. F: -2.885 M, P: 1.164 M. #UKOil may ease towards 63.
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In the last week or so the AUDUSD has fallen sharply from a six month high above 0.70 back down to the current key level of 0.6850, where it has enjoyed some solid support from in the last four days. Two weeks ago it surged higher off support at 0.6850 to the high after having moved through previous resistance at 0.6850 last month, which had put selling pressure on prices. Should the support at 0.6850 fail, then this level will likely offer resistance again to any rallies.
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United Kingdom Gross Domestic Product (GDP) 3m/3m
on January 13, 2020
| By Stuart McPhee
|
GBPUSD
Today at 9:30am UK time. UK GDP q/q shows changes in the market value of goods and services produced in the country in the given quarter compared to the previous quarter, and is the key indicator of the national economy growth. F:0.0%, P:0.0%. #GBPUSD may test 1.30
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On Monday last week we covered the EURUSD which spent the remainder of the week moving back down to the key 1.11 level where it found more support. It had previously eased back below the key 1.12 level back into its popular range between 1.11 and 1.12 where it has spent considerable time in the last few months. It had moved strongly to close out last year and into the new year moving to a five month high near 1.1250, before easing.
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