Home Forex Signals Forex Signals Brief for Jan 7: Eurozone CPI in Focus – FX Leaders

Forex Signals Brief for Jan 7: Eurozone CPI in Focus – FX Leaders

5 min read
0
4





Forex Signals Brief for Jan 7: Eurozone CPI in Focus – Forex News by FX Leaders

EU CPI in Focus

Posted Tuesday, January 7, 2020 by





Rowan Crosby



• 2 min read

US Market Wrap

Despite all the negative sentiment over the weekend, surrounding the drama’s with the US and Iran, markets managed to stage a bit of a recovery.

As is often the case, the buyers came for the SPX helping it close higher on the session, while the Greenback continued its slide after some short respite.

Markets will again be trying to push towards more record highs in equities as tensions simmer down and the focus turns back towards Friday’s jobs report.

Today’s Agenda

We have a bit of fundamental data out of the Eurozone, which will be the key lead for the EUR/USD today.

The interesting number is likely to be Eurozone CPI. This has been a sore point for Mario Draghi for many years, and new boss Christine Lagarde will also be watching very closely.

The expectation is for the annual number to be at 1.3%, which is still well off the 2-3%, that the ECB would be looking for, but still up on the prior of only 1.0%.

At the same time, we also get retail sales data, but it is only from November, so wouldn’t include the Christmas period, which is often a good indicator of sentiment.

Forex Signal Update

The FX Leaders Team finished with 1 win from 3 signals in what was a volatile session yesterday.

USD/JPY – Active Signal

The bounce in the USD/JPY came as we had a few big whipsaws in the key safe-haven plays yesterday. As it stands we are short, looking for 108.50 to hold.

USD/JPY
USD/JPY – 240min.

USD/CAD – Pending Signal

The USD/CAD has seen some big moves on the back of WTI seeing some strong buying action. As it stands price is under 1.3000 at the moment and that might be an opportunity for a short signal. We can also see some consolidation going on here as well.

USD/CAD
USD/CAD – 240min.

Cryptocurrency Update

BTC is surging towards the $8,000 level in what has been a bit of a shock breakout play.

We’ve been watching the $7,600 level for some time now and as soon as that level broke, the buyers kept piling in.

I had a bit of a closer look at the price action this morning and what we could possibly do to trade around the $8,000 level.

BTC
BTC – 240min.

About the author



Rowan Crosby


// Asia-Pacific Analyst


Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

Related Articles



5 hours ago



6 hours ago



16 hours ago

Let’s block ads! (Why?)


Source link

Comments are closed.

Check Also

FOREX-Euro under pressure on lockdown fears ahead of Macron address – Yahoo Finance

TipRanks 3 Stocks Flashing Signs of Strong Insider Buying For investors, finding the right…