FXTM information and reviews
OctaFX information and reviews
XM information and reviews
FXCC information and reviews
Libertex information and reviews
FxPro information and reviews

FX Movers & Shakers

11 February 2022 Written by Lukman Otunuga  Senior Research Analyst at FXTM Lukman Otunuga

We already knew this would be an eventful week for financial markets thanks to the growing caution and anticipation ahead of the US inflation report. So far markets have certainly not disappointed, with global stocks and currencies bursting with life. The S&P500 is up over 1.7% this week while king dollar and Yen have depreciated against most G10 currencies. Interestingly, the Australian dollar is looking pretty, the same can be said for the New Zealand Dollar.

With less than 24 hours left until the US CPI report is released, here are some technical setups we have on our radar.

Dollar Index wobbles around 95.50

The Dollar Index (DXY) remains on standby ahead of the US inflation report. As discussed earlier in the week, a report that meets or exceeds expectations may fuel speculation over a more aggressive hawkish cycle and a possible 50-basis point rate hike in March. This may inject dollar bulls with enough inspiration to send the DXY towards 96.00 and beyond. Should prices remain below 95.50, bears are likely to eye 94.56 and lower.

S&P500 bulls back in town

It looks like S&P500 bulls are back in the building this week with prices bursting above 4545 on Wednesday. A breakout 4590 could trigger a move higher towards 4640. If bulls run out of steam and prices slip back below 4545, the next key level can be found at 4495.

The Nasdaq100 is turning bullish on the daily charts. A strong daily close above 15000 may signal an incline towards 15300. If 15000 proves to be strong resistance, prices may decline back towards 14500.

Gold shines ahead of CPI data

It has been a positive week for gold with prices breaking above the $1831 resistance level. A daily close above this point may trigger an incline towards $1845. However, weakness below $1831 could inspire bears to target $1810 and $1800. Ultimately, where the precious metal concludes this week will be influenced by the US inflation report. 




The Pound is having tough times
The Pound is having tough times

The Pound Sterling is keeping balance against the USD as much as possible. The current quote for the instrument is 1.0800. The news released yesterday were rather puzzling. The Bank of England announced...

29 Sep 2022

EUR/USD: bears now target 0.9500
EUR/USD: bears now target 0.9500

EUR/USD drops for the seventh straight session and tests 0.9535. Below the 2022 low at 0.9535 comes the 0.9500 region. EUR/USD extends the leg lower to the proximity of 0.9530 earlier on Wednesday...

28 Sep 2022

Gold Shows Signs of Life, But Heads Towards Another Losing Month
Gold Shows Signs of Life, But Heads Towards Another Losing Month

The precious metal is largely considered as a hedge to inflation, but it has not confirmed this status during the current year. It did kick it off with a rally, but as the Fed begun hiking rates back in March...

27 Sep 2022

Penny Stocks: What Are They?
Penny Stocks: What Are They?

Locating penny stocks with buy ratings is getting more and more challenging. The markets become less adventurous as interest rates rise. That indicates that penny stocks, which are riskier by definition...

20 Sep 2022

Bitcoin and Ethereum: Inflation Brought Down The Prices
Bitcoin and Ethereum: Inflation Brought Down The Prices

Strong inflation brought down the price of bitcoin yesterday from $22,800 to the $20,000 support level. This morning, the price of Ethereum formed a new seven-day low at the $1550 level...

15 Sep 2022

Cooler USD & Stocks Higher Ahead of CPI
Cooler USD & Stocks Higher Ahead of CPI

USDIndex – Slips (108.00 tested) for a 5th straight day, lifting EUR & GBP. Fed Funds Futures back to 90% chance of 75 bp (third consecutive) hike...

14 Sep 2022

Editors' Picks

HFM information and reviews
IronFX information and reviews
FXCM information and reviews
NordFX information and reviews
Vantage information and reviews
FP Markets information and reviews
FP Markets

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.