This Tuesday the market is expected to see low volatility, JPY and gold are seen lower while oil and Asian shares rise.
1 – Wall Street Ended The Day with Gains
Federal Reserve (FED) Chair Janet Yellen said the FED would continue rising interest rates gradually but pointed out that the inflation outlook remains mixed. Asian equities climbed to record highs with the largest markets in the region booking strong gains for the week.
2 – Today’s Calendar Heats Up in the US with CPI Inflation and Retail Sales
Releases lined up today include Industrial production and Michigan Consumer Confidence. Recent US Inflation data has been rather weak, so today’s numbers will be important and could determine the short-term direction of the US dollar.
3 – The USD Remained on the Defensive
The USD remained on the defensive in the wake of Yellen’s testimony on Wednesday, but the pressure eased. Markets awaited today’s key US data. EUR/USD dropped temporary below 1.14 but rebounded on rumors that European Central Bank (ECB) President Mario Draghi might herald a policy change at Jackson Hole. EUR/USD closed the session at 1.1398. USD/JPY finished at 113.28.
4 – Commodity Currencies are Performing Well
The Australian dollar (AUD) broke above a major resistance level at 0.7730, which signals that it could test 0.7850 soon. The New Zealand dollar (AZD) also caught a bid and rallied back above 0.73. Meanwhile, a rise in oil prices is giving the Canadian Dollar (CAD) additional support. USD/CAD is moving back towards 1.27. The charts suggest the pair could test 1.25 in the near-term.
5 – Oil Markets Dipped on Friday
oil prices were pulled down by high fuel inventories and improving industry efficiency but were still on track for a solid weekly gain. U.S. West Texas Intermediate (WTI) crude futures were at $45.97 per barrel, down 11 cents, or 0.2 %, but up around 4 % over the week.
Top 5 Things to Know Before You Start Trading
This Tuesday the market is expected to see low volatility, JPY and gold are seen lower while oil and Asian shares rise.
1 – Wall Street Ended The Day with Gains
Federal Reserve (FED) Chair Janet Yellen said the FED would continue rising interest rates gradually but pointed out that the inflation outlook remains mixed. Asian equities climbed to record highs with the largest markets in the region booking strong gains for the week.
2 – Today’s Calendar Heats Up in the US with CPI Inflation and Retail Sales
Releases lined up today include Industrial production and Michigan Consumer Confidence. Recent US Inflation data has been rather weak, so today’s numbers will be important and could determine the short-term direction of the US dollar.
3 – The USD Remained on the Defensive
The USD remained on the defensive in the wake of Yellen’s testimony on Wednesday, but the pressure eased. Markets awaited today’s key US data. EUR/USD dropped temporary below 1.14 but rebounded on rumors that European Central Bank (ECB) President Mario Draghi might herald a policy change at Jackson Hole. EUR/USD closed the session at 1.1398. USD/JPY finished at 113.28.
4 – Commodity Currencies are Performing Well
The Australian dollar (AUD) broke above a major resistance level at 0.7730, which signals that it could test 0.7850 soon. The New Zealand dollar (AZD) also caught a bid and rallied back above 0.73. Meanwhile, a rise in oil prices is giving the Canadian Dollar (CAD) additional support. USD/CAD is moving back towards 1.27. The charts suggest the pair could test 1.25 in the near-term.
5 – Oil Markets Dipped on Friday
oil prices were pulled down by high fuel inventories and improving industry efficiency but were still on track for a solid weekly gain. U.S. West Texas Intermediate (WTI) crude futures were at $45.97 per barrel, down 11 cents, or 0.2 %, but up around 4 % over the week.
The post Top 5 Things to Know Before You Start Trading appeared first on Forex.Info.
Source: Easy Forex Forex.Info
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