Week Ahead January 6th – 10th
EURUSD pair closed last week’s trading session lower on the lack of any economic releases in the EU. The only economic releases from the US outperformed expectations and gave traction to US Dollar pushing the pair another hundred pips on the downside compare to last week.
As for this week, traders and investors will mainly focus on the Inflation numbers from Germany and EU and the Nonfarm payroll in the US. FOMC minutes will be released on Wednesday. No change on interest rates is expected at this meeting and most probable no change in the monetary path of FED. After two weeks of muted trading we are expecting increasing volatility for the first full working week of the year accompanied by the heavy economic calendar.
On the economic calendar we have on Monday, we have the German Consumer price index pointing higher at 2.4% On Tuesday, European core Harmonized index of consumer prices expected higher at 2.4% and US ISM services PMI higher at 53.5 on Wednesday, German retail sales pointing higher at 0.4%, US ADP Employment to show and additional 143K new jobs On Thursday, European retail sales expected higher at 0.5% On Friday, Nonfarm payroll to show additional 150K new jobs, the average hourly earnings expected lower at 0.3% and Michigan consumer sentiment higher at 74.5
Technically the picture is negative after last week’s close below (0%) at 1.0307 In this week’s trading session if pair trades on the upside and breaks and close above of 1.0348 (0%) will test 1.0493 (23.6%) If trades on the downside will test 1.0225 last week’s lower level. Our traders are net long with positions between 1.0767 – 1.0238 targeting profits above 1.1000 We are expecting new short positions above 1.0913 and more aggressive long positions on the way down.
GBPUSD pair closed last week’s trading session lower on the lack of any economic releases in the UK. The only economic releases from the US outperformed expectations and gave traction to US Dollar pushing the pair another hundred pips on the downside compare to last week.
As for this week, traders and investors will mainly focus on the Nonfarm payroll in the US, and FOMC minutes due to be released on Wednesday. No change on interest rates is expected at this meeting and most probable no change in the monetary path of FED. The lack of any economic events in the UK will let the pair trade in the mercy of US Dollar.
On the economic calendar we have on Tuesday, the US ISM services PMI pointing higher at 53.5 On Wednesday, US ADP Employment to show and additional 143K new jobs On Friday, Nonfarm payroll to show additional 150K new jobs, with the average hourly earnings pointing lower at 0.3% and Michigan consumer sentiment higher at 74.5
Technically the pair’s overall picture is negative even after last week’s close below 0% at 1.2420 As for this week, if pair trades on the upside, will test 1.2493 (0%) Alternative, if trades on the downside, will test 1.2356 last week’s lower level. Our traders are net long between 1.3038 and 1.2360 targeting profits above 1.3038 We are expecting new short positions above 1.2973 and more aggressive long positions on the way down.
Pour un calendrier économique plus détaillé, veuillez consulter notre calendrier économique en direct sur :
https://tentrade.com/economic-calendar/
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