Weekly Market Recap: 10-14 January 2022
This was an eventful week with key economic releases, lots of Fed speakers, the start of the earnings season in the US and significant market moves
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This was an eventful week with key economic releases, lots of Fed speakers, the start of the earnings season in the US and significant market moves
The pair draws towards the conclusion of a very good week, having conquered key technical levels
Introduction The USD has been pulling back since its peaked in December. Moreover, the greenback has declined markedly since the CPI release yesterday, which showed inflation increasing at its fastest pace in 40-years. The pullback in the greenback may be a function of the "buy the rumour, sell the fact" phenomenon. I.e., markets are forward-looking, and FXCM's USDOLLAR basket accelerated its momentum upwards as far back as September last year.…
The Aussie extends this week’s gains after two days of market moving events from the US, which worked against the greenback
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
Since the end of August last year, the EURUSD has been under pressure. In this regard, it has charted a lower peak followed by a lower trough. November marks the last significant low (aqua ellipse). Since then, the EURUSD has been resilient and has ground its way higher. However, it now approaches the 50% retracement of its last leg down. Moreover, price action resembles a classical charting pattern of a…
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
Fed Chair Jerome Powell is due to testify in front of the Senate Banking Committee today at 3:00 pm GMT. Mr. Powell is seeking confirmation of his reappointment as Chair of the Federal Reserve. Given that inflation is running at its fastest pace in almost 40 years, it is expected that a large part of the proceedings will be dedicated to reaffirming that the Fed will use its available resources…
The pair has been in retreat over the last few days, despite aggressive bets around the Fed’s tightening path, but today it finds support during the European hours
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
The pair dropped after Friday’s jobs reports from the United States and Canada and today it started soft, but finds support at key levels, as we head towards the US session
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