GBP/USD Daily Forecast – Test Of Resistance At 1.3710

GBP/USD Video 21.01.21.

British Pound Continues To Gain Ground Against U.S. Dollar

GBP/USD is trying to settle above the resistance at 1.3710 while the U.S. dollar is losing ground against a broad basket of currencies.

The U.S. Dollar Index managed to get below the 20 EMA at 90.35 and is moving towards the 90 level as foreign exchange market traders focus on Biden’s stimulus plans. If the U.S. Dollar Index manages to get to the test of the 90 level, GBP/USD will get additional support.

Yesterday, UK reported that Inflation Rate increased by 0.3% month-over-month in December compared to analyst consensus which called for growth of 0.2%. On a year-over-year basis, Inflation Rate grew by 0.6%. Meanwhile, Core Inflation Rate increased by 1.4% compared to analyst consensus of 1.3%.

At this point, it is too early to tell whether inflation is moving higher in the UK. The country continues its battle against a new, more infectious strain of the virus, and the recent data suggests that UK made little progress on this front. Most likely, UK will have to keep current virus containment measures in place for more weeks than originally planned which may have a negative impact on consumer optimism and put pressure on prices.

Technical Analysis

gbp usd january 21 2021

GBP/USD is currently testing the nearest resistance level at 1.3710. Yesterday, GBP/USD made an attempt to settle above this level but failed to develop sufficient upside momentum. However, the current momentum looks strong, and GBP/USD has good chances to get above 1.3710.

If GBP/USD manages to settle above the resistance at 1.3710, it will head towards the next resistance level at 1.3755. A move above the resistance at 1.3755 will push GBP/USD towards the next resistance at 1.3785.

On the support side, the previous resistance level at 1.3665 will likely serve as the first support level for GBP/USD. If GBP/USD declines below this level, it will move towards the next support at 1.3625. A successful test of this support level will open the way to the test of the next support which is located at the 20 EMA at 1.3600.

For a look at all of today’s economic events, check out our economic calendar.

The U.S Dollar Hits Reverse Ahead of the ECB Monetary Policy Decision and Press Conference

Earlier in the Day:

It’s was a relatively busy start to the day on the economic calendar this morning. The Aussie Dollar and the Japanese Yen were in action early this morning.

Later this morning, the Bank of Japan delivers its first monetary policy decision of the year. While the markets expect the BoJ to continue to leave policy unchanged, the latest wave of the pandemic will be a concern.

Vaccination rates will need to materially pick up globally, not just in Japan, to support a sustained economic recovery.

Away from the economic calendar, sentiment towards the U.S economic outlook provided direction early on. Hopes of significant fiscal support drove demand for riskier assets early on.

For the Japanese Yen

The trade surplus widened from ¥366.1bn to ¥751.0bn in December 2020. Economists had forecast a widening to ¥942.8bn.

According to the Ministry of Finance,

  • Exports rose by 2.0% in the month of December, while imports slid by 11.6%.
  • For the calendar year, 2020, exports slid by 11.1%, with imports tumbling by 13.8% to leave the trade surplus at ¥674.73bn.

By geography,

  • Exports to Asia fell by 5.1%, in spite a 2.7% increase of exports to China. Imports from Asia saw a more marked 7.5% decline in the calendar year 2020.
  • To the U.S, exports tumbled by 17.3%, with imports from the U.S sliding by 14.0%.
  • Exports to Europe slid by 15.1%, driven by sizeable declines to Germany (-14.9%) and the UK (-24.3%). Imports fell by 13.7 from Europe in the calendar year.

The Japanese Yen moved from ¥103.547 to ¥103.572upon release of the figures. At the time of writing, the Japanese Yen was down by 0.01% to ¥103.55 against the U.S Dollar.

For the Aussie Dollar

Employment figures were in focus this morning.

According to the ABS,

  • Employment rose by 50k in December, following a 90.0k increase in November, which was in line with forecasts.
  • Full employment increased by 37.5k, following an 84.2k jump in November.
  • As a result, the unemployment rate slipped from 6.8% to 6.7%, while the participation rate rose from 66.1% to 66.2%.
  • Employment finished the year 0.7% below the March level, having fallen 6.7% between March and May.
  • The recovery in employment was largely as a result of a more marked recovery in part-time employment, however.

The Aussie Dollar moved from $0.77551 to $0.77516 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.27% to $0.7768.

Elsewhere

At the time of writing, the Kiwi Dollar was up by 0.31% to $0.7194.

The Day Ahead:

For the EUR

It’s a relatively quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction.

While there are no stats, the ECB is scheduled to deliver its first monetary policy decision of the year.

With the markets expecting the ECB to stand pat on policy, the ECB press conference will likely be the key driver.

Last week, ECB President Lagarde stood by the ECB’s growth forecasts for this year, in spite of extended lockdown measures.

We can expect plenty of discussion on price stability and the outlook during the presentation and the Q&A.

Away from the economic calendar, COVID-19 vaccine news along with the latest COVID-19 figures will provide direction.

At the time of writing, the EUR was up by 0.16% to $1.2125.

For the Pound

It’s a relatively quiet day ahead on the economic calendar. CBI Industrial Trend Orders are due out later today.

With little else for the markets to consider, expect the stats to influence.

Ultimately, however, COVID-19 news updates will likely remain the key driver near-term.

At the time of writing, the Pound was up by 0.15% to $1.3674.

Across the Pond

It’s a busy day ahead on the economic calendar. Key stats include the weekly jobless claims figures and December’s Philly FED Manufacturing PMI.

Housing sector data for December, including building permits and housing starts are also due out. These will likely have a muted impact on risk sentiment, however.

Away from the economic calendar, President Biden’s first moves as U.S President together with COVID-19 news will also influence.

At the time of writing, the Dollar Spot Index was down by 0.15% to 90.340.

For the Loonie

It’s a quiet day on the economic data front. Economic data is limited to house price figures that will likely have a muted impact on the Loonie.

Chatter from Capitol Hill and COVID-19 news will be the key drivers on the day, with little else for the markets to consider.

At the time of writing, the Loonie was up by 0.13% to C$1.2620 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.

GBP/USD Price Forecast – British Pound continues to Bang Against Ceiling.

The British pound has rallied to kick off the trading session on Wednesday on the bullish foot. However, the market has pulled back from the 1.3750 level again, an area that seems to be a bit of an issue in general. With this being the case, I think that the market probably finds pullbacks as attractive, especially near the 1.35 handle underneath as it is not only a large, round, psychologically significant figure, but it is also an area that features the 50 day EMA now.

Because of this, I think what we are looking at here is the opportunity for value hunters to come back into the marketplace and take advantage of what is typically going to be thought of as “cheap pounds.”

The 50 day EMA itself of course attracts a lot of attention, but at the end of the day I think what we are seeing here is the likelihood of a “continuation of the buy on the dips attitude” that we have seen for so long. Stimulus is one of the main drivers of this pair to the upside, and although we already know that there is going to be more stimulus coming out of the United States, the reality is that we do not know how much of it there will truly be at the end of the day.

Because of this, I think what we are looking at is an opportunity to take advantage of what has been a very strong trend, but currently is suffering at the hands of a little bit of doubt when it comes to whether or not the stimulus package is going to be as massive as once thought.

For a look at all of today’s economic events, check out our economic calendar.

GBP/USD Daily Forecast – Test Of Resistance At 1.3665

GBP/USD Video 20.01.21.

U.S. Dollar Is Losing Ground Against British Pound

GBP/USD is currently trying to settle above the resistance at 1.3665 while the U.S. dollar is losing ground against a broad basket of currencies.

The U.S. Dollar Index managed to settle below the support at 90.50 and is trying to get below the next support level at the 20 EMA at 90.35. If the U.S. Dollar Index declines below the 20 EMA, it will head towards the 90 level which will be bullish for GBP/USD.

Today, the UK will provide inflation data for December. Analysts expect that Inflation Rate increased by 0.2% month-over-month. On a year-over-year basis, Inflation Rate is projected to grow by 0.5%. Meanwhile, Core Inflation Rate is expected to grow by 1.3%.

In addition to UK inflation data, foreign exchange market traders will focus on the Inauguration Day in the U.S. The U.S. dollar pulled back from recent highs as the support from the recent increase in U.S. Treasury yields was not sufficient enough to push it higher, and traders will keep an eye on any dovish comments from Biden’s economic team.

Technical Analysis

gbp usd january 20 2021

GBP/USD gained upside momentum and is trying to settle above the nearest resistance level at 1.3665. If this attempt is successful, GBP/USD will head towards the next resistance at 1.3710. RSI is in the moderate territory, and there is plenty of room to gain additional momentum in case the right catalysts emerge.

A move above 1.3710 will open the way to the test of the resistance at 1.3755. In case GBP/USD gets above the resistance at 1.3755, it will move towards the resistance at 1.3785.

On the support side, the nearest support for GBP/USD is located at 1.3625. In case GBP/USD declines below this level, it will move towards the next support level which is located at the 20 EMA at 1.3585.

The next support is located at 1.3575, so GBP/USD will likely receive material support in the 1.3575 – 1.3585 area. A move below this support area will push GBP/USD towards the support at 1.3540.

For a look at all of today’s economic events, check out our economic calendar.

Inauguration Day and the Bank of Canada Put the Greenback and the Loonie in Focus

Earlier in the Day:

It’s was a relatively busy start to the day on the economic calendar this morning. The Aussie Dollar and the PBoC were in action early this morning.

For the Aussie Dollar

The Westpac Consumer Confidence Index fell by 4.5% to 107.0 in January. In December, the Index had stood at 112.0.

According to the January report,

  • Domestic border closures and COVID-19 clusters together with a sharp rise in new COVID-19 cases overseas weighed on sentiment.
  • In spite of the fall, the index is up by 14.6% from a year ago and stood 41.5% higher than the pandemic low last April.

Looking at the key components:

  • Economic conditions next 12-months slid by 8.3%, with family finances vs a year ago falling by 7.0%.
  • In spite of the decline both were up compared with a year ago.
  • Family finances next 12-months saw a more modest 0.3% decline, with economic conditions next 5-years down by 4.5%.
  • Compared with this time last year, economic conditions next 5-years was up by 31.6%, with economic conditions next 12-months up by 21.1%.
  • Time to buy a major household item was down by 2.8%, while up by 4.8% compared with this time last year.
  • Time to buy a dwelling bucked the trend, however, rising by 0.2%. This was supported by sentiment towards house prices.
  • The House Price Expectations Index increased by 1.1%.
  • Sentiment towards unemployment was disappointing, however. The Unemployment Expectations Index was up by 11.9%, while down by 11.2% compared with a year ago.

The Aussie Dollar moved from $0.77100 to $0.77102 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.21% to $0.7711.

From China

This morning, the PBoC left loan prime rates unchanged in the central bank’s first monetary policy decision of the year.

In line with market expectations, the 1-year LPR remained unchanged at 3.85%, with the 5-year unchanged at 4.65%.

The Aussie Dollar moved from $0.77026 to $0.77072 upon announcement of the decision.

Elsewhere

At the time of writing, the Japanese Yen was up by 0.13% to ¥103.77 against the U.S Dollar, with the Kiwi Dollar up by 0.04% to $0.7125.

The Day Ahead:

For the EUR

It’s a relatively busy day ahead on the economic calendar. German wholesale inflation figures for December and finalized December inflation figures for the Eurozone are due out later today.

Barring marked revision from prelim Eurozone inflation figures, we don’t expect the stats to have too much influence, however.

Away from the economic calendar, COVID-19 vaccine news along with the latest COVID-19 figures and Italian politics will provide direction.

At the time of writing, the EUR was up by 0.10% to $1.2141.

For the Pound

It’s a relatively busy day ahead on the economic calendar. December inflation and wholesale inflation figures are due out of the UK later today.

A pickup in inflationary pressures should deliver support for the Pound. Wholesale inflationary pressures will also need to see a pickup, however.

While the stats will influence, the market focus will remain on the UK Government’s progress towards ending the COVID-19 pandemic.

At the time of writing, the Pound was up by 0.12% to $1.3647.

Across the Pond

It’s yet another particularly quiet day ahead on the economic calendar. There are no material stats to provide the Greenback and the broader markets with direction.

The lack of stats will leave the Greenback in the hands of chatter from Capitol Hill and COVID-19 news.

It’s Inauguration Day, so expect market focus to be on Capitol Hill. Upon entering the Oval Office, Biden is expected to begin repealing Trump policy.

At the time of writing, the Dollar Spot Index was down by 0.12% to 90.388.

For the Loonie

It’s a busy day on the economic data front. December inflation figures are due out ahead of the Bank of Canada’s first monetary policy decision of the year.

With the markets likely to hold out for the BoC rate statement and press conference, inflation figures will likely have a relatively muted impact on the Loonie.

Rising crude oil prices and optimism towards the economic outlook is likely to leave the BoC in a holding pattern. It remains to be seen, however, whether there’s any hawkish chatter.

At the time of writing, the Loonie was up by 0.11% to C$1.2721 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.

GBP/USD Price Forecast – British Pound Continues to Grind Upwards

The British pound rallied to kick off the trading session on Tuesday as we continue to see a general grind to the upside. That being said, I do think that it is only a matter of time before traders try to break out to the upside, perhaps based upon the stimulus situation in the United States. In the short term though, I suspect that we may have a little bit more back-and-forth trading ahead of us than anything else. This would typically be the case when you are getting a bit stretched, and I do think that the US dollar is oversold, at least in the short term.

GBP/USD Video 20.01.21

As the markets are waiting to see what Janet Yellen says about any potential monetary policy in her US Senate confirmation hearings, keep in mind that the occasional headline could throw this market around. That being said, she is extraordinarily dovish most of the time, so it is difficult to imagine that she would suddenly change her tune. In other words, we will more than likely see more pressure on the US dollar, but we may need to kill some time in this area after these massive gains.

Furthermore, we also have to keep in mind that the United Kingdom is locking itself down, and therefore the economic picture in the UK is certainly suffering. If we continue to see lockdowns though, there may be a short-term catalyst for this market the pullback even further. Currently, I have the 50 day EMA, near the 1.3350 level as support for the longer-term trend.

For a look at all of today’s economic events, check out our economic calendar.

GBP/USD Daily Forecast – British Pound Gains Ground Against U.S. Dollar

GBP/USD Video 19.01.21.

British Pound Moves Higher Against U.S. Dollar

GBP/USD is trying to settle back above 1.3600 while the U.S. dollar is losing some ground against a broad basket of currencies.

Yesterday, the U.S. Dollar Index made an attempt to settle above the resistance at the 50 EMA at 90.95 but failed to develop sufficient upside momentum and pulled back. Currently, the U.S. Dollar Index is trying to settle below the nearest support level at 90.70. If this attempt is successful, the U.S. Dollar Index will move towards the next support level at 90.50 which will be bullish for GBP/USD.

There are no important economic reports scheduled to be released today in the U.S. and UK so foreign exchange market traders will focus on general market sentiment and wait for any updates ahead of Joe Biden’s inauguration.

At this point, traders will try to evaluate the future foreign exchange policy of Biden’s administration. Biden’s Treasury Secretary nominee Janet Yellen is expected to state that the U.S. is not seeking a weaker dollar, but it remains to be seen whether an explicit commitment to market-set foreign exchange rates will have any significant impact on the dynamics of the American currency.

Technical Analysis

gbp usd january 19 2021

GBP/USD failed to settle below the 20 EMA at 1.3575 and is trying to settle back above 1.3600. RSI is in the moderate territory so there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

The nearest resistance level for GBP/USD is located at 1.3625. If GBP/USD manages to get above this level, it will head towards the resistance at 1.3665. A move above the resistance at 1.3665 will push GBP/USD towards the next resistance level at 1.3710.

On the support side, the 20 EMA at 1.3575 will serve as the first material support level for GBP/USD. A move below the 20 EMA will push GBP/USD towards the support level at 1.3540. If GBP/USD declines below this support level, it will head towards the next support at 1.3500.

For a look at all of today’s economic events, check out our economic calendar.

Economic Data Puts the EUR and the Loonie in Focus as Inauguration Day Nears

Earlier in the Day:

It’s was a relatively quiet start to the day on the economic calendar this morning. The Kiwi Dollar was in action early this morning.

For the Kiwi Dollar

Business confidence picked up in the 4th quarter of 2020.

According to the NZIER Quarterly Report,

  • A net 16% of businesses expect a deterioration in general economic conditions over the coming months. This was lower than the 38% in the previous quarter and well below the 68% in March 2020.
  • The building sector delivered strong optimism, while other sectors saw some improvement.
  • Away from the construction sector, businesses were reportedly still cautious about general economic conditions ahead.
  • While demand has improved, firms are still finding it difficult to pass on rising costs by raising prices.
  • Despite resulting weak profitability, increased certainty about the outlook supported hiring and investment.
  • A net 15% of firms are planning to hire in the next quarter, with a net 10% planning to invest in plant and machinery.

The Kiwi Dollar moved from $0.71122 to $0.71118 upon release of the figures that preceded retail sales figures.

In December, electronic card retail sales rose by 3.5% compared with December 2019. In November, sales had increased by 1.4%, year-on-year.

According to NZ Stats,

  • Spending on groceries, furniture, and electronics drove sales, while accommodation and fuel spending dragged.
  • Retail spending rose in 4 of the 6 industries in December 2020 compared with December 2019.
  • Consumables had the largest retail sector increase, rising by 7.5%, followed by spending on durables, which increased by 6.7%.
  • Spending on eating out increased by a relatively modest 1.8%. In spite of containment measures, domestic tourism delivered support.
  • By contrast, spending on hotels, motels, and other accommodation was down by 32% due to a lack of international tourists.

The Kiwi Dollar moved from $0.71120 to $0.71051 upon release of the figures. At the time of writing, the Kiwi Dollar up by 0.25% to $0.7128.

Elsewhere

At the time of writing, the Japanese Yen was down by 0.02% to ¥103.71 against the U.S Dollar, while the Aussie Dollar was up by 0.22% to $0.7698.

The Day Ahead:

For the EUR

It’s a relatively busy day ahead on the economic calendar. Finalized December inflation figures from Germany and ZEW economic sentiment figures for Germany and the Eurozone are due out.

Expect Germany’s ZEW Economic Sentiment figure for January to be the key driver.

Away from the economic calendar, COVID-19 vaccine news along with the latest COVID-19 figures will also influence.

On the political front, the Italian government faces a Senate vote later today that will decide Conte’s fate. On Monday, the Chamber of Deputies voted in favor of Conte’s government following the coalition breakdown.

A political crisis on top of the COVID-19 pandemic would pressure the EUR.

At the time of writing, the EUR was up by 0.09% to $1.2088.

For the Pound

It’s another quiet day ahead on the economic calendar, with no material stats due out to provide the Pound with direction.

The lack of stats will continue to leave COVID-19 news to provide direction.

At the time of writing, the Pound was up by 0.06% to $1.3595.

Across the Pond

It’s another particularly quiet day ahead on the economic calendar after Monday’s market close.

The lack of stats will leave the Greenback in the hands of chatter from Capitol Hill and COVID-19 news.

At the time of writing, the Dollar Spot Index was down by 0.06% to 90.713.

For the Loonie

It’s a relatively busy day on the economic data front. Manufacturing sales and wholesales figures for November are due out later today.

The numbers are unlikely to have a material impact on the Loonie, however.

COVID-19 news updates from China and the U.S will likely remain the key drivers on the day.

At the time of writing, the Loonie was up by 0.17% to C$1.2735 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.

GBP/USD Price Forecast – British Pound Tests Major Figure

The British pound fell during the trading session on Monday to kick off the week on its back foot. However, the 1.35 level underneath did offer a little bit of support, just as the 50 day EMA should come based upon the previous action. With that in mind, I believe that traders will be looking for some type of supportive action that they can start buying. There is a little bit of a “micro double top” that we just formed at the 1.37 level, but I do not think that it is some type of major barrier that cannot become broken.

GBP/USD Video 19.01.21

Quite frankly, the US dollar had been oversold for some time so it should not be much of a surprise to see it recover over the last couple of days. It could probably even go little bit further, but at this point in time I have no interest in trying to short this pair, despite the fact that I recognize that the United Kingdom has a whole set of issues of its own to deal with. At the end of the day, it looks like traders are starting to pay closer attention to stimulus than anything else, and when it comes to stimulus the Americans tend to get what they want in the form of currency devaluation.

Beyond that, the British pound is historically cheap at this level, so it is probably only a matter of time before longer-term traders step in and try to pick this pair up as well. I do not quite see it yet, but once I get that support of candle, I will be a buyer. As a caveat, if we were to turn around a break above the 1.36 level that would also warrant me going long.

For a look at all of today’s economic events, check out our economic calendar.

GBP/USD Daily Forecast – British Pound Is Losing Ground At The Start Of The Week

GBP/USD Video 18.01.21.

British Pound Remains Under Pressure

GBP/USD is currently trying to settle below the support at the 20 EMA at 1.3570 while the U.S. dollar continues to gain ground against a broad basket of currencies.

The U.S. Dollar Index managed to settle above the resistance at 90.70 and is trying to get above the next resistance level at the 50 EMA at 90.95. If the U.S. Dollar Index settles above the 50 EMA, it will gain additional upside momentum and head towards the next resistance at 91.20 which will be bearish for GBP/USD.

U.S. markets are closed today, and there are no important economic reports scheduled to be released in the UK, so foreign exchange market traders will focus on general market sentiment as well as the recent data from China.

China’s fourth-quarter GDP grew by 6.5% year-over-year compared to analyst consensus which called for growth of 6.1%. China’s economy continued to rebound at a fast pace at the end of the previous year. Interestingly, strong economic data from China did not provide additional support to riskier assets, and the U.S. dollar continued to rebound against a broad basket of currencies.

Technical Analysis

gbp usd january 18 2021

GBP/USD is testing the nearest support level at the 20 EMA at 1.3570. If this test is successful, GBP/USD will head towards the next support level which is located at 1.3540. RSI is in the moderate territory so there is plenty of room to gain downside momentum in case the right catalysts emerge.

A move below 1.3540 will push GBP/USD towards the support at 1.3500. In case GBP/USD declines below the support at 1.3500, it will get to the test of the next support level at 1.3485.

On the upside, GBP/USD needs to stay above the 20 EMA at 1.3570 to have a chance to develop upside momentum in the near term. The next resistance level for GBP/USD is located at 1.3625.

If GBP/USD settles above this level, it will head towards the next resistance level at 1.3665. A successful test of the resistance at 1.3665 will push GBP/USD towards the resistance which is located at the recent highs at 1.3710.

For a look at all of today’s economic events, check out our economic calendar.

Economic Data from China to Set the Tone for the Day

Earlier in the Day:

It’s was a quiet start to the day on the economic calendar this morning. There were no material stats to provide the markets with direction in the early hours. Later this morning, however, economic data from China will set the tone.

Key stats due out of China later this morning include 4th quarter GDP figures along with industrial production and retail sales numbers.

Unemployment and fixed asset investment figures for December are also due out but will likely have a muted impact on risk sentiment.

For the Majors

At the time of writing, the Aussie Dollar was down by 0.13% to $0.7693, with the Kiwi Dollar down by 0.11% to $0.7125.

The Japanese Yen was up by 0.06% to ¥103.79 against the U.S Dollar.

The Day Ahead:

For the EUR

It’s a quiet day ahead on the economic calendar. Finalized December inflation figures from Italy are due out.

The numbers are unlikely to influence, however.

Expect COVID-19 news and updates from Rome to influence. Political uncertainty, amidst the COVID-19 pandemic, will test EUR support. Conte will now need to avoid going back to the polls…

At the time of writing, the EUR was down by 0.06% to $1.2075.

For the Pound

It’s a quiet day ahead on the economic calendar. There are no material stats due out to provide the Pound with direction.

The lack of stats will leave COVID-19 news to provide direction. A pickup in vaccination rates should provide support, though the markets will need to see new cases begin to fall.

At the time of writing, the Pound was down by 0.07% to $1.3580.

Across the Pond

It’s a particularly quiet day ahead on the economic calendar, with the U.S markets closed today.

The lack of stats will leave the Greenback in the hands of market risk sentiment and COVID-19 news.

At the time of writing, the Dollar Spot Index was up by 0.03% to 90.800.

For the Loonie

It’s another quiet day on the economic data front. Housing start figures for December are due out later today.

The numbers are unlikely to have a material impact on the Loonie ahead of Wednesday’s monetary policy decision.

Economic data from China and COVID-19 news updates will likely be the key drivers on the day.

At the time of writing, the Loonie was down by 0.26% to C$1.2765 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.

The Week Ahead – U.S Politics, Monetary Policy, Economic Data, and COVID-19 in Focus

On the Macro

It’s a busy week ahead on the economic calendar, with 73 stats in focus in the week ending 22nd January. In the week prior, 46 stats had been in focus.

For the Dollar:

It’s a quiet week ahead on the economic data front.

In a shortened week, there are no material stats to consider in the 1st half of the week.

Through Thursday, Philly FED Manufacturing PMI and weekly jobless claims figures are in focus.

With market attention to labor market conditions, expect the jobless claims to have the biggest impact. Another jump in jobless claims would likely weigh on riskier assets.

At the end of the week, prelim private sector PMI figures for January wrap things up.

Housing sector data also due out in the week will likely have a muted impact on the Dollar and risk sentiment.

The Dollar Spot Index ended the week up by 0.75% to 90.772.

For the EUR:

It’s a busy week ahead on the economic data front.

On Tuesday, January ZEW Economic Sentiment figures for Germany and the Eurozone kick things off.

Germany’s ZEW Economic Sentiment indicator will likely be the key driver.

The focus will then shift to January prelim private sector PMI numbers on Friday. France, Germany, and the Eurozone’s private sectors will be in the spotlight on.

Expect Germany’s manufacturing and the Eurozone’s composite to be the key drivers.

Finalized December inflation figures for member states and the Eurozone, also due out in the week, will likely have a muted impact on the EUR.

On the monetary policy front, the ECB is in action on Thursday. No moves are expected, leaving the press conference as the key driver. Questions on the economic outlook are likely as EU member states extend lockdown periods.

The EUR ended the week down by 1.11% to $1.2082.

For the Pound:

It’s a relatively busy week ahead on the economic calendar. Key stats include December inflation and retail sales figures, CBI industrial trend orders, and prelim January private sector PMIs.

Expect the retail sales figures and services PMI, due out on Friday, to have the greatest influence.

Away from the economic calendar, COVID-19 news will also influence. Following the vaccine approvals, the markets will be looking for new COVID-19 cases to begin abating.

On the monetary policy front, BoE Governor is scheduled to speak on Wednesday.

The Pound ended the week up by 0.16% to $1.3590.

For the Loonie:

It’s a busy week ahead on the economic calendar.

Key stats include December inflation and November retail sales figures due out on Wednesday and Friday.

Other stats include housing stats, manufacturing and wholesale sales figures. We would expect these stats to have a muted impact on the Loonie, however.

On the monetary policy front, the BoC is in action on Wednesday. With the markets expecting the BoC to hold rates steady, the rate statement and press conference will be the key drivers.

From elsewhere, economic data from China and private sector PMIs from the Eurozone and the U.S will also influence.

Expect COVID-19 news updates and chatter from Capitol Hill to also provide direction.

The Loonie ended the week down by 0.24% to C$1.2732 against the U.S Dollar.

Out of Asia

For the Aussie Dollar:

It’s a busier week on the economic data front.

Consumer sentiment figures for January are due out on Wednesday.

With consumer confidence key to fueling a pickup in consumer spending and an economic recovery, expect Aussie Dollar sensitivity to the numbers.

On Thursday, December employment figures will also provide direction ahead of retail sales figures on Friday.

Economic data from China and private sector PMI numbers from the U.S and the Eurozone will also influence.

COVID-19 news updates will remain a key driver in the week. however.

The Aussie Dollar ended the week down by 0.70% to $0.7703.

For the Kiwi Dollar:

It’s a quiet week ahead on the economic calendar.

In the 1st half of the week, 4th quarter business confidence and electronic card retail sales figures are in focus on Tuesday.

At the end of the week, Business PMI and 4th quarter inflation figures wrap things up.

Expect business confidence, retail sales, and 4th quarter inflation figures to be the key drivers.

The Kiwi Dollar ended the week down by 1.51% to $0.7133.

For the Japanese Yen:

It is a busy week ahead.

Finalized November industrial production figures get things going on Monday.

On Thursday, December trade figures will draw plenty of attention. With the COVID-19 pandemic continuing to wreak havoc, weak numbers could test market risk appetite.

At the end of the week, December inflation figures and prelim private sector PMIs for January wrap things up. The PMI numbers should have greater influence at the end of the week.

On the monetary policy front, the BoJ is in action on Thursday.

The Japanese Yen ended the week up by 0.09% to ¥103.85 against the U.S Dollar.

Out of China

It’s also a busy week ahead.

December industrial production and 4th quarter GDP numbers are due out on Monday. These will be the key stats of the week.

Other stats include fixed asset investment, retail sales, and unemployment figures. Barring dire numbers, however, these stats should have limited impact on market risk sentiment.

On Wednesday, the PBoC is also in action. However, the markets are not expecting any moves.

The Chinese Yuan ended the week down by 0.10% to CNY6.4809 against the U.S Dollar.

Geo-Politics

U.S Politics

It’s a busy week on Capitol Hill.

Inauguration Day and Trump’s impeachment will draw interest.

COVID-19

Vaccination rates and availability of vaccines will be key areas of interest.

An upward trend in vaccination rates and a downward trend on infection rates would support optimism towards an economic recovery.

Corporate Earnings

A number of big names deliver results in the week ahead.

From the U.S

These include:

Bank of America (Tues)

Goldman Sachs Group (Tues),

Netflix (Tues)

United Airlines (Wed)

Morgan Stanley (Wed)

Intel Corp. (Thurs).

The Weekly Wrap – COVID-19, Economic Data, and U.S Stimulus Weigh on Riskier Assets

The Stats

It was a relatively busy week on the economic calendar, in the week ending 15th January.

A total of 46 stats were monitored, following 61 stats from the week prior.

Of the 46 stats, 21 came in ahead forecasts, with 17 economic indicators coming up short of forecasts. There were 8 stats that were in line with forecasts in the week.

Looking at the numbers, 17 of the stats reflected an upward trend from previous figures. Of the remaining 29 stats, 23 reflected a deterioration from previous.

For the Greenback, it was a 2nd consecutive weekly gain, with the Dollar Spot Index rising by 0.75% to $90.772. In the previous week, the Dollar had risen 0.18% to 90.098.

Out of the U.S

It was a relatively busy week on the economic data front.

It was a quiet 1st half of the week, however, with stats limited to JOLTs job openings and inflation figures.

While job openings fell in November, inflation held steady, with the annual rate of core inflation holding at 1.6%.

Consumer prices rose by 0.4%, month-on-month, while core consumer prices increased by a modest 0.1%.

In a busy 2nd half of the week, key stats included the weekly jobless claims, retail sales, and consumer sentiment figures.

Jobless claims figure disappointed on Thursday, with initial jobless claims jumping from 784k to 965k.

In December, core retail sales slid by 1.4%, with retail sales falling by 0.7%, both following on from declines in November.

Consumer sentiment figures also disappointed.

According to prelim figures, the Michigan Consumer Sentiment Index fell from 80.7 to 79.2.

The downside was limited, however, supported by COVID-19 vaccines and hopes of a bipartisan shift.

The survey noted that the fall was minor when considering the sharp rise in COVID-19 related deaths, insurrection, and Trump’s impeachment.

Other stats included industrial production, NY Empire State Manufacturing, and business inventory figures. These stats had limited impact on the markets, however.

On the monetary policy front, FED Chair Powell assured the markets that rates were not going up any time soon. The FED Chair also stated that there would be no tapering of bond purchases near-term.

In the equity markets, the NASDAQ and the S&P500 slid by 1.54% and by 1.48% respectively. The Dow fell by a more modest 0.91%.

Out of the UK

It was a relatively busy week on the economic data front.

Monday through Thursday economic data was limited to BRC retail sales and RICS house price figures.

Retail sales rose by a further 4.8% in December, following a 7.7% rise in November according to the BRC.

House prices were also on an upward trend, with the RICS house price balance coming in at 65%. While down marginally from October’s 66%, upward pressure on house prices is expected to remain.

At the end of the week, industrial and manufacturing production and GDP figures were in focus.

In November, industrial production fell by 0.1%, following a 1.1% rise in October. Manufacturing production rose by 0.7%, following a 1.6% increase in October. Both fell short of forecasts.

GDP figures were not much better. In November, the economy contracted by 2.6% reversing 0.4% growth from October. On a 3-month rolling basis, the economy grew by 4.1%, slowing from a 10.2% to October.

Trade data released on Friday had a muted impact on the Pound, however. In November, the trade deficit widened from £13.29bn to £16.01bn, with the non-EU deficit widening from £5.82bn to £8.01bn.

Away from the economic calendar, a pickup in vaccination rates in the UK offset the negative sentiment towards lockdown measures.

In the week, the Pound rose by 0.16% to $1.3590. In the week prior, the Pound had fallen by 0.76% to $1.3568. A 0.72% slide on Friday pared some of the gains from earlier in the week.

The FTSE100 ended the week down by 2.00%, partially reversing a 6.39% gain from the previous week.

Out of the Eurozone

It was a relatively quiet week on the economic data front.

Industrial production and trade figures for the Eurozone, together with full year GDP numbers for Germany were in focus.

It was a mixed set of numbers for the EUR and the European majors.

For the Eurozone, industrial production jumped by 2.5% in November, following a 2.3% increase in October.

Trade data disappointed, however, with the trade surplus narrowing from €30.0bn to €25.8bn in November. Weak numbers were expected, however, following Germany’s trade data from last week.

While economic data from Germany has been impressive of late, GDP figures disappointed.

For the full year 2020, the economy contracted by 5.0%, following 0.6% growth in 2019. Economists had forecasted a 5.1% fall, however, which limited the damage.

ECB President Lagarde had spoken the day before the release of the GDP numbers. Lagarde continued to stand by the ECB’s economic forecasts, in spite of the extended lockdown measures in the EU. Lagarde pointed out that the forecasts had factored in lockdowns through the 1st quarter.

At the end of the week, finalized inflation figures for France and Spain had a muted impact on the EUR.

On the monetary policy front, the ECB’s monetary policy meeting minutes also failed to move the dial in the week.

For the week, the EUR slid by 1.11% to $1.2082. In the week prior, the EUR had risen by 0.02% to $1.2218.

For the European major indexes, it was a bearish week. The EuroStoxx600 fell by 0.81%, with the CAC40 and DAX30 sliding by 1.67% and 1.86% respectively.

A continued spike in new COVID-19 cases weighed. Across the EU, member states were reporting particularly low vaccination rates that added to the negative mood.

For the Loonie

It was a particularly quiet week on the economic data front. There were no material stats to provide the Loonie with direction.

At the start of the week, the BoC’s Business Outlook Survey failed to move the dial.

Market optimism, fueled by expectations of a sizeable U.S stimulus package, had supported crude oil prices and the Loonie.

A Friday sell-off, however, left the Loonie in the red. Concerns over the COVID-19 pandemic and market reaction to the Biden stimulus package weighed on riskier assets.

In the week ending 15th January, the Loonie fell by 0.24% to C$1.2732. In the week prior, the Loonie had risen by 0.2% to C$1.2702.

Elsewhere

It was a bearish week for the Aussie Dollar and the Kiwi Dollar, following solid gains from the previous week.

In the week ending 15th January the Aussie Dollar fell by 0.70% to $0.7703, with the Kiwi Dollar ended the week down by 1.51% to $0.7133.

For the Aussie Dollar

It was a quiet week on the economic calendar.

November retail sales, building permit, and new home loan figures were in focus in the week.

Retail sales impressed in November, supported by an easing of containment measures in Victoria. Sales jumped by 7.1%, following a 1.4% rise in October.

Building permits rose by 2.6%, following a 3.3% increase in October, with new home loans surging by 5.5%.

Home loans hit a record high mid-way through the 4th quarter.

From elsewhere, trade data from China also provided support, with imports and exports on the rise in December.

For the Kiwi Dollar

It was also a particularly quiet week on the economic calendar.

There were no material stats from New Zealand to provide the Kiwi Dollar with direction.

For the Japanese Yen

It was a relatively quiet week on the economic calendar. Core machinery orders were in focus in the week.

Month-on-month, orders rose by 1.5% in November, following October’s 17.1% surge. Economists had forecast a 6.2% slide. Year-on-year, orders were down by 11.3%, after having risen by 2.8% in October. Economists had forecast a more severe 15.4% slump.

The stats ultimately had a muted impact on the Japanese Yen, however. COVID-19 news and chatter from Capitol Hill remained key drivers in the week.

The Japanese Yen rose by 0.09% to ¥103.85 against the U.S Dollar. In the week prior, the Yen had fallen by 0.72% to ¥103.94.

Out of China

Inflation and trade data for December were in focus.

The stats were skewed to the positive, supporting riskier assets in the week.

Inflationary pressures returned at the end of the year, with consumer prices rising by 0.7%, month-on-month. In November, consumer prices had fallen by 0.6%. As a result, consumer prices were up by 0.2% year-on-year, partially reversing a 0.5% decline from November.

Wholesale deflationary pressures also eased at the end of the year.

Trade data was more impressive, however, with exports surging by 19.1% following a 21.1% jump in November. Imports increased by 6.5%, leading to a widening in the USD trade surplus from $75.4bn to $78.16bn.

While the stats were positive, a spike in new COVID-19 cases in China was a concern in the week.

In the week ending 15th January, the Chinese Yuan fell by 0.10% to CNY6.4809. In the week prior, the Yuan had risen by 0.81% to CNY6.4746.

The CSI300 slipped by 0.68%, while the Hang Seng ended the week up by 2.50%.

GBP/USD Weekly Price Forecast – British Pound Digesting Gains

The British pound has gone back and forth during the course of the week, showing signs of exhaustion after a huge move to the upside. The market going back and forth makes quite a bit of sense after this massive move higher, as we have seen the 1.36 level offer resistance, just as the 1.35 level underneath acts as support. All things being equal, this is a market that needs to digest some of these gains for a while, which is typical after a huge move like we have seen. Nonetheless, the British pound is historically cheap, so that is worth paying attention to. I think ultimately, we will go higher but we may have a little bit of work to do in the short term.

GBP/USD Video 18.01.20

The market continues to try to price and stimulus coming from the United States, which will weigh upon the US dollar in general. In fact, that might be one of the bigger drivers of this market going forward, not necessarily the need for the British pound to be bought based upon strength. All things being equal, I think we are more than likely going to go towards the 1.50 level over the longer term as we normalize a bit in the United Kingdom. Remember, markets tend to look into the future, so eventually we will start to price in the United Kingdom after the pandemic and of course after the lockdowns and vaccinations. I do not have any interest in shorting this pair, at least not anytime soon. This is a market that seems to continue to look towards higher prices given enough time.

For a look at all of today’s economic events, check out our economic calendar.

GBP/USD Price Forecast – British Pound Pulled Back Toward Support

The British pound has initially tried to rally during the trading session on Friday but turned around to show signs of weakness as we raced towards the support level underneath in the form of 1.36. This is an area that has been important more than once, extending down to the 1.35 handle. That being the case, the market is likely to continue to see a certain amount of buying pressure underneath, and I think it is only a matter of time before people start to take advantage of this market and its larger uptrend. Ultimately, I think that we go looking towards 1.3750 level in the short term, and then after that go looking towards the 1.40 level.

GBP/USD Video 18.01.21

Looking at the chart, the 50 day EMA sits underneath the 1.35 handle, and it looks as if it is trying to break above there rather soon. That should continue to offer a bit of dynamic support as longer-term traders tend to pay close attention to it as a potential trend defining indicator. All things being equal, this is all about the US dollar losing strength with massive amounts of stimulus expected, which of course has people concerned about the budgetary issues in the United States.

This pullback should be thought of as a potential “buy on the dips” type of situation, giving people the ability to pick up value as we go long. We have been in an uptrend for some time and it is worth noting that the British pound is historically cheap when looking back over the last several decades. Now the Brexit out of the way I believe that we will continue to see this move higher over the longer term.

For a look at all of today’s economic events, check out our economic calendar.

GBP/USD Daily Forecast – Resistance At 1.3710 Stays Strong

GBP/USD Video 15.01.21.

British Pound Pulls Back Ahead Of The Weekend

GBP/USD faced strong resistance at 1.3710 and pulled back closer to the support at 1.3665 while the U.S. dollar gained some ground against a broad basket of currencies.

The U.S. Dollar Index received support at the 20 EMA at 90.20 and is slowly moving towards the resistance level at 90.50. If the U.S. Dollar Index gets to the test of the resistance at 90.50, GBP/USD will find itself under pressure.

Yesterday, U.S. President-elect Joe Biden proposed a stimulus package worth $1.9 trillion which included $1,400 stimulus checks. The foreign exchange market reacted calmly as previous reports suggested that the new stimulus aid would be in the $1.5 trillion – $2 trillion range.

The recent Initial Jobless Claims report highlighted the need for additional stimulus as 965,000 Americans filed for unemployment benefits in a week.

Today, traders will have a chance to take a look at Industrial Production and Manufacturing Production reports for November from the UK. Industrial production is expected to grow by 0.5% month-over-month while Manufacturing Production is projected to increase by 0.9%.

Later, traders’ focus will shift to Retail Sales data from the U.S. Accoring to the analyst consensus, Retail Sales remained unchanged in December. On a year-over-year basis, Retail Sales are forecasted to grow by 3.6%.

Technical Analysis

gbp usd january 15 2021

GBP/USD did not manage to settle above the resistance at 1.3710 and pulled back towards the nearest support level at 1.3665.

In case GBP/USD declines below the support at 1.3665, it will move towards the next support level at 1.3625. This support level has been tested several times in recent trading sessions and proved its strength.

If GBP/USD settles below 1.3625, it will continue its downside move and head towards the next support level at the 20 EMA at 1.3575.

On the upside, GBP/USD needs to get above the resistance at 1.3710 to continue its upside move. The next resistance level for GBP/USD is located at 1.3755. If GBP/USD manages to get above this level, it will head towards the resistance at 1.3785.

For a look at all of today’s economic events, check out our economic calendar.

Economic Data Puts the Pound and the Dollar in the Spotlight, with COVID-19 News also in Focus

Earlier in the Day:

It’s was a quiet start to the day on the economic calendar this morning. The Aussie Dollar was in action in the early hours.

For the Aussie Dollar

Homes loans jumped by 5.5% in November, following a 0.8% rise in October. Economists had forecast a 0.5% increase.

According to the ABS,

  • The total value of new loan commitments for housing and the value of owner occupier home loan commitments hit record highs in November 2020.
  • Year-on-year, the value of new owner home loan commitments was 31.4% higher.

The Aussie Dollar moved from $0.77855 to $0.77792 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.04% to $0.7775.

Elsewhere

At the time of writing, the Japanese Yen was up by 0.06% to ¥103.74 against the U.S Dollar, with the Kiwi Dollar up by 0.07% to $0.7216.

The Day Ahead:

For the EUR

It’s a relatively busy day ahead on the economic calendar. November trade data for the Eurozone is due out later today.

Finalized December inflation figures for France and Spain are also due out but should have a muted impact on the EUR.

Away from the economic calendar, expect COVID-19 news to continue to influence sentiment towards the economic outlook.

At the time of writing, the EUR was down by 0.02% to $1.2153.

For the Pound

It’s a busy day ahead on the economic calendar. Key stats include industrial and manufacturing production and GDP figures for November.

Trade data is also due out but will likely have a muted impact on the Pound.

Away from the economic calendar, any COVID-19 vaccination news will also provide direction.

At the time of writing, the Pound was down by 0.01% to $1.3688.

Across the Pond

It’s a particularly busy day ahead on the economic calendar. Key stats include December retail sales and industrial production figures and prelim January consumer sentiment numbers.

Expect consumer sentiment and retail sales figures to have the greatest impact on market risk sentiment.

NY Empire State Manufacturing, wholesale inflation, and business inventory figures are also due out. We would expect these to have a muted impact on the Dollar and market risk sentiment, however.

Away from the economic calendar, expect chatter from Capitol Hill to remain a key driver.

At the time of writing, the Dollar Spot Index was up by 0.02% to 90.256.

For the Loonie

It’s another quiet day on the economic data front, with no material stats due out to provide the markets with direction.

The lack of stats will leave the Loonie in the hands of market risk sentiment on the day.

At the time of writing, the Loonie was down by 0.03% to C$1.2644 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.

GBP/USD Price Forecast – British Pound Continues to Sit Near Highs

The British pound has gone back and forth during trading on Thursday as we continue to sit just above the 1.36 handle. This is an area that previously has been resistance, so at this point I think it would not be a huge surprise to see this market simply go back and forth as we drift into the weekend. Keep in mind that a lot of what we are witnessing right now is the US dollar recovery, mainly due to an oversold condition, but perhaps even more importantly in the short term, interest rates in the United States have been rising in the bond markets.

GBP/USD Video 15.01.21

Nonetheless, this is still a very bullish trend in general, and with the massive amounts of stimulus that will be coming out the United States, it is very likely that we will continue to see a lot of noise overall. That being said, I believe that the 1.35 level is also important support, just as the 50 day EMA underneath, painted in red on the chart, will end up being the same. All things being equal, I believe this is a market that we should be buying on dips, as there has been a significant demand for anything beyond the US dollar, and of course from a historical standpoint, the British pound is rather cheap at this point. To the upside, I believe that the 1.3750 level will be a target, and then after that we will go looking towards 1.40 level longer-term. Ultimately, I do not have any interest in shorting, at least not yet.

For a look at all of today’s economic events, check out our economic calendar.

Trading Currencies: With a New Year Comes a Review

Happy New Year – A time of renewal, a time of new thinking and a time of excitement for change as we look to the future (even in the time of COVID).

We like to use the New Year to ‘review’ and see if we need to ‘renew’ or ‘rethink’ our FX strategy, which is what we shall do for this week’ piece.

Differences in the Global Trading Environment between 2020 & 2021

What’s changed from 2020 to 2021?

  • New administration in Washington
  • Brexit is finally complete
  • US rates have shifted

What hasn’t?

  • COVID-19
  • Unconventional policy the world over
  • Geo-political tensions – particularly in the Pacific

2021 Forex Trend Forecast

We will be watching for reactions to these points from both the fiscal and monetary sides of policy this year but what this means for FX based on the current setting is:

USD: New administration will mean increased US fiscal stimulus, and President-elect Joe Biden has already announced that he is assembling a multitrillion-dollar relief plan that would boost stimulus payments for Americans to $2,000. The discussions of the stimulus had triggered bearishness in the currency for most of 2020, but what will happen as it becomes a real event in 2021? It probably risks creating a US ‘exception’ narrative and may lead to a rise in market discussions of the Fed tapering. Either way the USD is near ‘rock-bottom’ pricing and in the short term a snap back may be seen.

EUR: Real yields and equity sentiment remain the key drivers of the EUR, ECB remains sidelined and fiscal support is piecemeal and country specific. Over 2021 it’s likely to rise naturally. Economists at Nordea expect EUR/USD to peak to the 1.25-1.27 level during the first 6 months of 2021.

GBP: Brexit is over and the oversold GBP had snapped back with gusto to end 2020. However, post-Brexit reality is COVID, as the country is now under its third lockdown, which could cause a probable double-dip recession and a likely BoE rate cut in Feb. Bearish here.

JPY: It remains a solid defensive play. USD/JPY had weakened due to the USD’s slide, however if as expected the USD finds support, the pair will struggle to fall further, much to the relief of the BoJ, which is extended until September 2021.

AUD: RBA is out of ammo in the medium term and Asia’s thrust for copper and iron ore is driving the AUD hard. However, AUD/USD is vulnerable to a short-term pullback on a pausing USD and profit taking – medium-term outlook is bullish and short-term outlook is bearish.

Key Events to Watch in the Coming Week

  • President-elect Biden’s speech – January 15, 2021
  • Fed’s Chair Powell’s speech – January 15, 2021
  • Inauguration of Joe Biden – January 20, 2021

This article is prepared by Lucia Han from Mitrade and is for reference only. We do not represent that the material provided here is accurate, current or complete. The article content neither takes into account your personal investment objects nor your financial situation, and therefore it should not be relied upon as such. You should seek for your own advice.

GBP/USD is Bullish but Before We Should See a Retracement

The GBP/USD is bullish but before the next bounce we might see a retracement.

Yesterday we were witnessing a drop in the GBP/USD. It was normal as it’s a part of a retracement. We could see the market bullish again probably around 2 POC zones. 1.3600-10 is the first zone and below 1.3600 we should see a drop towards the second zone. The second POC zone is 1.3505-1.3522. This is a stronger POC so the bounce could be happening here too. Targets are 1.3680 and 1.3730.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad