Don’t waste your time – keep track of how NFP affects the US dollar!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
Warning! Old version of the browser!
Press one of the icons below to proceed to the official website of the developer and download the latest version of your browser.
Online Forex broker
Information is not investment advice
After an extremely volatile week in the markets, traders await the next steps of the USD and stocks. What drivers will move the assets next week? Lets’ find out!
The main intrigue of this week is connected with the further performance of the US dollar. The USD strengthened last week on the tapering hints by the Federal Reserve. According to the FOMC Meeting Minutes, the Fed will be ready for stimulus reduction before the end of this year. This week, we will see more volatility on the markets as the Jackson Hole Symposium is on the way! The event starts on Thursday, but traders will pay particular attention to Friday's session due to the Fed's Chair Powell speech. If you trade EUR/USD, bear in mind that the whole bunch of the European PMIs are coming out on Monday. If the indicators are stronger than expected, the euro will rise. The key resistance lies at 1.18. In case of more demand for the US dollar, the retest of last autumn’s low of 1.1620 will be inevitable. Also, pay attention to USD/CAD. The pair may reach the resistance of 1.3030 this week.
Investors will continue tracking the performance of indices. Last week, the stock indices dropped heavily with S&P500 (US500) sliding below 4400. The week was even more hurtful for the Asian stocks with Nikkei (JP225) falling below 27,000. The heartbreaking picture of the stock market is a result of the comments on tapering by the Federal Reserve, China’s targeted restrictions of the big tech, and a fresh wave of delta cases across the world. If the stock market remains pressed, JP225 will fall to the next low of 26,200. The resistance is located at 28,300. As for US500, the next support lies at 4320. In case of recovery, follow the resistance of 4430.
The oil prices kept moving within a downtrend last week. The price of XTI/USD inched lower to the support of $61.55. On the upside, the resistance to follow is placed at $64. The price of XBR/USD follows a similar scenario. After reaching $64.50, the next target for sellers may be placed at $61 (200-day SMA). Gold failed to reach the resistance of 1800 last week. Thus, this level remains the first target to follow if the USD weakens. On the contrary, the strength of the greenback will pull the price of the precious metal lower to $1750.
Despite the negative news and worrying headlines, we recommend traders to make mental reframing of the situation. This way, you can look at the market from a different perspective. Let’s observe how you can take advantage of the uncertainties and make the fundamentals work for you!
The US Federal Reserve may refrain from more aggressive interest rate hikes in March due to geopolitical risks after Russia's special operation in Ukraine…
Hello from the far 2022! FBS analysts have used some magic to travel to the future and brought you some hilarious predictions.
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Your request is accepted.
We will call you at the time interval that you chose
Next callback request for this phone number will be available in 00:30:00
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
