Past week, President Trump reopen the government for 3 weeks till 15th February after being shutdown for 35 days.
Consumer confidence decline to 120.2 in January and previous data revised downwards from 128.1 to 126.6.
No plans to raise interest rates anytime soon from FOMC. - “The decision to keep rates on hold had been widely expected by the market because most FOMC members had been indicating in recent public comments that the committee likely will be on hold for the foreseeable future as it watches incoming economic data.”
Employment Cost Index rose 0.7% during fourth quarter slower than previous 0.8% rise in Q3.
New Home Sales increased 16.9% In November report after delay due to recent partial government shutdown.
Non-Farm Employment Change came out 304k which is far better than expectation of 165K. But previous data revised downwards from 312k to 222k.
ISM Manufacturing PMI came out better than previous and expected of 54.1 to 56.6.
DXY for the month of January looks pretty much side way without a clear direction. Past week were bearish forming a down trend channel closed at the top of it. We might see a breakout of the channel leading to a sideward move. Overall suggestion upcoming week might see a continuous downward move to 95.00 levels progression.
Indicators:
Parabolic SAR – Bullish
MACD – Bullish
Stochastic – Moving towards overbought
Overall - 3/3 - Bullish
Disclaimer:
Any opinions, news, research, analyses, prices or other information contained in this content is provided as general market commentary and does not constitute investment advice. ForexBriefcase will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Consumer confidence decline to 120.2 in January and previous data revised downwards from 128.1 to 126.6.
No plans to raise interest rates anytime soon from FOMC. - “The decision to keep rates on hold had been widely expected by the market because most FOMC members had been indicating in recent public comments that the committee likely will be on hold for the foreseeable future as it watches incoming economic data.”
Employment Cost Index rose 0.7% during fourth quarter slower than previous 0.8% rise in Q3.
New Home Sales increased 16.9% In November report after delay due to recent partial government shutdown.
Non-Farm Employment Change came out 304k which is far better than expectation of 165K. But previous data revised downwards from 312k to 222k.
ISM Manufacturing PMI came out better than previous and expected of 54.1 to 56.6.
DXY for the month of January looks pretty much side way without a clear direction. Past week were bearish forming a down trend channel closed at the top of it. We might see a breakout of the channel leading to a sideward move. Overall suggestion upcoming week might see a continuous downward move to 95.00 levels progression.
Indicators:
Parabolic SAR – Bullish
MACD – Bullish
Stochastic – Moving towards overbought
Overall - 3/3 - Bullish
Disclaimer:
Any opinions, news, research, analyses, prices or other information contained in this content is provided as general market commentary and does not constitute investment advice. ForexBriefcase will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.