GBP is back to the 1.25000 point
Is it going to resist again or will it go back to the 1.26000
Daily chart is flashing bullish signals 📈
Weekly chart still bearish 📉
Gold went long at 2746 this morning at about 8:15 am and i saw a recersal at 2758 and i entered a sell. Market is about to make a turn around from 2758 to further below 2745. This is because of the identical candle formation at the 30” chart. I see a sell.
The upcoming week features a mix of global economic data releases, with China kicking off Monday with its CFLP composite PMI showing flat manufacturing activity at 50.1 and a slight dip in services PMI to 52.1. Germany’s Ifo survey for January is projected to remain weak, with minimal changes in business climate and expectations compared to December. In the U.S., December’s new home sales are expected to show growth, despite 30-year mortgage rates exceeding 7%. Tuesday highlights include U.S. durable goods orders, forecasted to rise 0.8%, and consumer confidence, anticipated to rebound to 106.3 in January after a decline in December.
Midweek, the Bank of Canada is expected to slow its pace of monetary easing with a 25-basis-point rate cut, while the Federal Reserve is anticipated to hold rates steady amid strong economic conditions and persistent inflation. Thursday sees Japan’s inflation inching higher, while unemployment remains stable at 2.5%, reflecting labor shortages. Japan’s industrial production is forecast to rebound slightly, and retail sales are expected to show moderate growth. Meanwhile, Eurozone GDP for Q4 is projected to rise modestly by 0.2% on the quarter, with France stagnating, Germany contracting, and Italy posting a modest gain. The European Central Bank is likely to announce a 25-basis-point rate cut.
Friday wraps up with inflation data from France and Germany, with France’s CPI forecasted to rise to 1.5% annually and Germany’s to remain steady at 2.6%. Canada’s November GDP is expected to shrink by 0.1%, reflecting declines in key sectors like retail, wholesale trade, and manufacturing. The week’s data points underscore the mixed recovery across global economies, with inflation, labor conditions, and central bank policies taking center stage.
Here is a question? Why has the EURUSD recovered and DAX at record levels given the risk of Trump tariffs. prospect of lower interest rates, an underperforming German economy and political uncertainty in Germany (and France)?
Swiss stocks closed higher on Friday as the World Economic Forum in Davos comes to a close and markets shift their attention to next week’s key monetary policy decisions in Europe and the US.
The Swiss Market Index edged up 0.18% at the end of the trading day.
In corporate news, Baader Europe raised its price target on Sandoz SDZ to 46.6 francs from 44.2 francs, primarily driven by the Swiss pharmaceutical company’s strong growth in biosimilars and initiatives to improve margins. The stock was up 1.26% at closing.
Of course Swiss market index is lagging ( a lot) behind the DAX, but is more stable .
With both – FOMC and ECB interest rate decision next week and not to forget BOC for those trading USDCAD, it is going to be a very exciting trading week.
I hope that the market will make a decision as well once it all passes and that we can have some clear direction midterm.
With all the Geopolitical shakings right now, Trump expressing some interesting ideas , coupled with European slow down we can expect two possible outcomes :
–Â Â Â Â Â Â Â Â Â Either the crisis increase to the unbearable levels or
–Â Â Â Â Â Â Â Â Â All settles down with some new (old) ways , in which case no one will be fully happy, but no one ever is.
We that work the markets have to be extremely sensitive to all of it , to be able to make it .
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