Ekonomske vesti sa finansijskih tržišta od 17 јануар 2022

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17.01.2022
08:56
EUR/USD regains traction, resumes the upside above 1.1400 EURUSD
  • EUR/USD picks up pace and extends the bounce off 1.1400.
  • The greenback remains under pressure and retests the 95.00 area.
  • German 10y Bund yields add to Friday’s gains around -0.03% region.

The optimism seems to have returned to the single currency and now lifts EUR/USD back to the 1.1430 zone at the beginning of the week.

EUR/USD stays supported around 1.1400

Following Friday’s moderate pullback to the 1.1400 neighbourhood, EUR/USD regains upside traction amidst the resumption of the risk-on trade among market participants and the weaker greenback, while earlier results in the Chinese calendar also collaborate with the upbeat mood.

The greenback starts the week on the negative ground following disheartening results from the US docket on Friday despite the decent move higher in US yields.

Indeed, earlier results in China showed the economy expanded at an annualized 4.0% during the October-December 2021 period, while Industrial Production expanded above estimates 4.3% YoY in December. On the not-so-bright side, the domestic demand remains weak after Retail Sales expanded less than forecast 1.7%, also in the year to December. These data in the Chinese economy might prompt some easing from the PBoC going ahead, which should remain supportive of further improvement in the risk complex.

The upside bias in the pair looks underpinned by the climb in yields of the 10y German Bund to the -0.03% zone, adding to Friday’s uptick.

In the domestic calendar, final Italian inflation figures for the month of December will be the sole release, while the Eurogroup is expected to meet later in the day.

What to look for around EUR

EUR/USD came under pressure after hitting new tops in the 1.1480 region. The outlook for the pair looks improved in past sessions, particularly after leaving behind the 4m line on January 12, today around 1.1380. In the meantime, the Fed-ECB policy divergence and the performance of yields are expected to keep driving the price action around the pair for the time being. ECB officials have been quite vocal lately and now acknowledge that high inflation could last longer in the euro area, sparking at the same time fresh speculation regarding a move on rates by the central bank by end of 2022. On another front, the unabated advance of the coronavirus pandemic remains as the exclusive factor to look at when it comes to economic growth prospects and investors’ morale in the region.

Key events in the euro area this week: Eurogroup Meeting (Monday) – Ecofin Meeting, Germany/EMU ZEW Survey (Tuesday) – Germany Final December CPI (Wednesday) – EMU Final December CPI, ECB Accounts (Thursday) - ECB Lagarde, EC’s Flash Consumer Confidence (Friday).

Eminent issues on the back boiler: Asymmetric economic recovery post-pandemic in the euro area. ECB stance/potential reaction to the persistent elevated inflation in the region. ECB tapering speculation/rate path. Italy elects President of the Republic in late January. Presidential elections in France in April.

EUR/USD levels to watch

So far, spot is gaining 0.10% at 1.1426 and faces the next up barrier at 1.1482 (2022 high Jan.14) followed by 1.1501 (100-day SMA) and finally 1.1511 (200-week SMA). On the other hand, a break below 1.1398 (low Jan.14) would target 1.1351 (55-day SMA) en route to 1.1272 (2022 low Jan.4).

08:34
AUD/USD to edge back below 0.7200 towards 0.7130 – OCBC AUDUSD

AUD/USD losses were cushioned at the 0.7200 level. A break below this mark would clear the way for a fall to the 0.7130 region, economists at OCBC Bank report.

Upside momentum for now

“Market expectations of RBA rate hikes remain optimistic, despite Lowe’s continued pushback. Labour market data on Thursday will be another opportunity to reassess the market’s optimistic view of the RBA.”

“0.7200 will be a key support, with a breach leaving the door open to 0.7130.”

“The AUD, together with the NZD, is our preferred avenue to express USD strength for now.”

 

08:30
EUR/GBP set to hit fresh lows, sterling untouched by political noise – MUFG EURGBP

According to economists at MUFG Bank, there is room for the GBP to extend rebound further in the near-term. They expect the EUR/GBP pair to reach fresh lows.

UK political uncertainty should have limited negative impact on GBP

“We believe there is room for the GBP’s rebound to extend further in the near-term and expect EUR/GBP to hit fresh lows.”

“We do not expect political uncertainty surrounding Boris Johnson’s position as PM to weigh on the GBP. Even if he is replaced as leader following local elections in May, there is unlikely to be an immediate change in government policies.”

 

08:25
AUD/USD may surprise many for its resilience in 2022, despite near-term challenges – HSBC AUDUSD

The aussie should be able to hold its own against a robust USD in 2022 but its fortunes hinge on how the gap between the RBA’s guidance and the market’s rate expectations changes over time, economists at HSBC report.

Over the near-term, AUD may be challenged by swings in risk sentiment

There is room for the short-term rates to better reflect the terminal rate and therefore support the AUD. Some of this potential for a pulling forward of the terminal rate comes down to the RBA’s guidance, which has thus far been more dovish than many of its counterparts. The latest CPI and wages growth data may not warrant a shift in the RBA’s rhetoric just yet; however, we believe momentum is moving in the right direction.”

“The AUD has benefited from sizeable current account surpluses over the past few quarters, helped by a surge in commodity prices. This is unlikely to change in the coming quarters, as export growth should remain strong, supported by high commodity prices, China’s policy shift to boost growth, and stabilisation in the slowdown of global growth. All this should continue to support the AUD.”

“Some of these positive catalysts may not kick in more meaningfully until later this year. Over the near-term, the AUD may still struggle, given its vulnerability to swings in risk appetite as the Federal Reserve nears its first rate hike with the need to tap the inflation brakes in focus.”

08:20
USD/JPY: Upside bias reinforced above 114.75 – UOB USDJPY

USD/JPY needs to regain 114.75 to mitigate downside pressure, commented FX Strategists at UOB Group.

Key Quotes

24-hour view: “We highlighted last Friday that ‘the weakness in USD has yet to stabilize but any further decline is unlikely to break the major support at 113.60’. However, USD plummeted to 113.47 before rebounding strongly. The rebound has scope to extend but a break of the strong resistance at 114.75 is unlikely (minor resistance is at 114.50). On the downside, a breach of 113.90 would indicate that the current upward pressure has eased.”

Next 1-3 weeks: “After USD dropped sharply, we highlighted last Friday (14 Jan, spot at 114.10) that while there is room for USD to weaken further, shorter-term conditions are deeply oversold and any decline is expected to encounter solid support at 113.60. USD subsequently plummeted to 113.47 before rebounding. Conditions remain oversold and this coupled with the sharp bounce suggests that the prospect for further USD weakness is not high. However, only a break of 114.75 (no change in ‘strong resistance’ level) would indicate that the downside risk has dissipated.”

08:16
US Dollar Index looks offered just above 95.00
  • The index starts the week on the back footing above 95.00.
  • US stocks, bond markets will be closed on Monday.
  • DXY gyrates around the 200-week SMA around 95.10.

The US Dollar Index (DXY), which tracks the greenback vs. a bundle of its main competitors, begins the trading week slightly on the defensive in the low-95.00s.

US Dollar Index appears supported near 94.60

The index gives away part of Friday’s moderate rebound although it manages well to keep business above the key 95.00 barrier so far ahead of the opening bell in the old continent.

The greenback, in the meantime, appears to be under pressure as market participants continue to digest Friday’s disappointing results from the US docket, where Retail Sales, Industrial Production the advanced figures of the Consumer Sentiment all came in short of expectations.

In light of the inactivity in the US markets due to the Martin Luther King, Jr holiday on Monday, the next data releases will be regional manufacturing gauge tracked by the NY Empire State Index, the NAHB Index and TIC Flows.

What to look for around USD

The index managed to regain some composure and reversed the sharp weekly pullback on Friday, which has so far met decent contention near 94.60. Higher US yields propped up by firmer speculation of a sooner-than-anticipated Fed’s lift-off and supportive Fedspeak helped the buck to regain part of the shine lost in past sessions, all against the backdrop of persistent elevated inflation and the solid performance of the US economy.

Key events in the US this week: NAHB Index, TIC Flows (Tuesday) – Building Permits, Housing Starts (Wednesday) – Initial Claims, Philly Fed Index, Existing Home Sales (Thursday).

Eminent issues on the back boiler: Start of the Fed’s tightening cycle. US-China trade conflict under the Biden’s administration. Debt ceiling issue. Potential geopolitical effervescence vs. Russia and China.

US Dollar Index relevant levels

Now, the index is losing 0.06% at 95.11 and a break above 95.73 (55-day SMA) would open the door to 96.46 (2022 high Jan.4) and finally 96.93 (2021 high Nov.24). On the flip side, the next down barrier emerges at 94.62 (2022 low Jan.14) seconded by 93.27 (monthly low Oct.28 2021) and then 93.14 (200-day SMA).

08:03
USD/JPY: 114.00 to 115.00 range likely ahead of BoJ meeting – OCBC USDJPY

The JPY outperformed alongside the USD as the market digested a headline of the Bank of Japan (BoJ) planning for an eventual rate hike. This puts the market on their toes around the BoJ meeting on Tuesday. Strategists at OCBC Bank expect the USD/JPY pair to trade between 114.00 and 115.00 ahead of the meeting.

BoJ seen telegraphing an eventual interest rate hike

“The Reuters headline about BoJ discussing how to tweak its forward guidance to prepare for rate hikes kept the JPY firm against the USD. As a result, this week’s BoJ meeting (Tue) will take an extra significance, as the market look to decipher its messaging.”

“In the immediate term, expect support at 113.50, with a 114.00 to 115.00 range likely ahead of BoJ meeting.”

“Upside risks from higher UST yields still present, do not be overly excited to the downside.”

 

08:02
Turkey Budget Balance: -145.74B (December) vs previous 32B
07:58
EUR/USD: Not looking on a move above 1.1500 – ING EURUSD

Will EUR/USD break above 1.1500? Economists at ING think the balance of risks for the pair is still skewed to the downside, primarily on the back of ECB-Fed monetary policy divergence, and a move above 1.1500 in EUR/USD seems unwarranted.

Eyes on ECB minutes this week

“We do not trust the current USD softness, and we are thus inclined to think that EUR/USD is due for a correction rather than another leg higher.”

“Most of the focus in the week ahead will be on the ECB minutes from the December meeting: a chance to gauge the strength of the hawkish bloc in the policy discussion. Still, any hawkish headline should be filtered by the fact that the Omicron situation in Europe was not as bad when the meeting took place compared to the following weeks.”

“We expect EUR/USD to slide back to 1.12/1.13 in the near term, but for next week, we’d already welcome a stabilisation below 1.1500 as a sign that the bullish push on the pair was temporary.”

 

07:49
USD/CAD: Any rebound to stall around the 1.2600 level – ING USDCAD

USD/CAD missed a chance to decisively break below 1.2500, with Friday’s sentiment jitters coming to the support of the pair. On Monday, all eyes will be on the Bank of Canada Business Outlook Survey for 4Q. Economists at ING do not expect the data to fuel the loonie, but USD/CAD is expected to move below the 1.2600 area.

BoC Business Outlook survey in focus

“Today’s survey may not fully mirror the worsening demand outlook as data was mostly collected before the Omicron crisis become severe. This means the survey’s  explanatory power may be somewhat limited, but there are still a few points to keep an eye on, such as inflation expectations, hiring intentions and CAPEX investment figures.”

“With CAD not currently embedding much economic fallout due to Omicron, we don’t see much room for CAD to benefit from the BoC survey today. Still, external factors – above all, oil prices – are proving supportive to the currency and we expect any rebound in USD/CAD to stall around the 1.2600 region this week.”

 

07:38
EUR/USD: Correction to extend on failure to hold above 1.1400 EURUSD

EUR/USD is moving sideways in a narrow band above 1.1400. According to FXStreet’s Eren Sengezer, the correction could extend with a drop below 1.1400.

Initial resistance seen at 1.1430

“The first support aligns at 1.1400 (ascending trend line, psychological level). In case a four-hour candle closes below that level, the correction could extend toward 1.1380 (static level) and 1.1350 (100-period SMA).”

“Resistances are located at 1.1430 (20-period SMA), 1.1450 (static level) and 1.1480 (two-month high set last week).”

 

07:32
EUR/GBP to slip below 0.8300 in the near-term – ING EURGBP

Economists at ING think UK data releases will keep offering support to the pound. Subsequently, EUR/GBP is set to move below 0.83 in the near-term.

Data to help, political noise to have little impact

“Prime Minister Boris Johnson remains in a quite fragile position after receiving multiple calls to resign, even from within the Coservative party. Still, we think that even in the event of a change in leadership, the downside risks for the pound (which is currently being supported by aggressive Bank of England tightening expectations) should be contained.”

“This week, a slew of important data releases in the UK should provide some extra support to the currency – although mostly in the crosses, as we expect the dollar to stay bid as well.” 

“Tomorrow’s jobs data should keep drawing a quite robust picture, and Wednesday’s inflation report for December should show another marginal acceleration in the headline rate. That should offset the negative impact of weaker retail sales on Friday.”

“We continue to expect EUR/GBP to slip below 0.8300 in the near-term.”

 

07:21
AUD/USD keeps the mixed outlook unchanged – UOB AUDUSD

AUD/USD is now seen within the 0.7140-0.7285 range in the next weeks, noted FX Strategists at UOB Group.

Key Quotes

24-hour view: “The swift and sharp in AUD to 0.7199 last Friday came as a surprise (we were expecting AUD to consolidate). Further AUD weakness is not ruled but oversold conditions suggest a slower pace of decline and a break 0.7180 is unlikely (next support is at 0.7140). Resistance is at 0.7240 followed by 0.7255.”

Next 1-3 weeks: “Our view for AUD to ‘advance to 0.7335’ was invalidated as AUD dropped below our ‘strong support’ level at 0.7215 on Friday (low of 0.7199). The sharp but short-lived swings have resulted in a mixed outlook. From here, AUD is likely to trade within a range of 0.7140/0.7285.”

07:17
Natural Gas Futures: Further consolidation appears likely

Considering advanced figures from CME Group for natural gas futures markets, open interest resumed the uptrend and increased by around 7.5K contracts. On the other hand, volume retreated for the second session in a row, this time by around 280.8K contracts.

Natural Gas remains propped up by $4.00

Friday’s inconclusive price action in natural gas was amidst rising open interest and declining volume, leaving the door open to further range bound in the very near term at least. That said, the $4.00 mark per MMBtu is still seen as a decent contention area for the time being.

07:10
GBP/USD: A move to 1.3800 seems to be running out of steam – UOB GBPUSD

Cable sees a probable move to 1.3800 to be losing momentum in the short term, suggested FX Strategists at UOB Group.

Key Quotes

24-hour view: “We highlighted last Friday that ‘upward momentum is beginning to ease and this coupled with still overbought conditions suggest that GBP is likely to consolidate within a range of 1.3680/1.3740’. We did not anticipate the sharp drop to 1.3654 during NY session. The rapid decline appears to be overdone and GBP is unlikely to weaken much further. For today, GBP is more likely to trade sideways at these lower levels, expected to be between 1.3650 and 1.3715.”

Next 1-3 weeks: “We have held a positive view in GBP for more than a week now. As GBP rose, in our latest narrative from last Friday (14 Jan, spot at 1.3710), we highlighted that ‘while there is still room for GBP to advance further, the next resistance at 1.3800 may not come into the picture so soon’. We added, ‘a breach of 1.3640 would indicate that the GBP strength has run its course’. That said, we did not anticipate the sharp pullback during NY session that hit a low of 1.3654. Upward momentum has waned and this coupled with overbought conditions suggests that that 1.3800 is likely out of reach. However, only a break of 1.3640 (no change in ‘strong support’ level) would indicate that GBP is unlikely to strengthen further.”

07:04
Crude Oil Futures: Rally looks unabated

CME Group’s flash data for crude oil futures markets noted traders added around 35.5K contracts to their open interest positions at the end of last week, extending the uptrend in place since the beginning of the new year. Volume followed suit and went up by around 154.4K contracts.

WTI keeps looking to $85.00 near term

Friday’s strong advance in prices of the WTI came in tandem with rising open interest and volume and now favours the continuation of the current uptrend, which now navigates at shouting distance from the next target at the $85.00 mark per barrel.

07:01
Gold Price Forecast: XAU/USD to challenge key resistance at $1,830

Gold seems to have gone into a consolidation phase around $1,820. As FXStreet’s Eren Sengezer notes, bulls are set to take action with a break above $1,830.

XAU/USD to hold above key support levels that align near $1,800

“In case the 10-year US T-bond yield falls below 1.7% and stays there, the dollar could face renewed selling pressure and allow gold to push higher. On the flip side, another attempt at 1.8% resistance is likely to weigh on XAU/USD.”

“Key resistance area seems to have formed at $1,830, where the Fibonacci 23.6% retracement of the uptrend that started in October and ended in mid-November is located. With a daily close above that hurdle, XAU/USD could target $1,850 (static level) ahead of $1,870 (December highs, static level).”

“On the flip side, $1,800 (200-day SMA, Fibonacci 50% retracement) aligns as key support. If gold breaks below that level and starts using it as resistance, additional losses toward $1,790 (100-day SMA) and $1,780 (Fibonacci 61.8% retracement) could be witnessed.”

 

07:01
Norway Trade Balance rose from previous 78.7B to 106B in December
06:56
GBP/JPY Price Analysis: Bounces off 100-SMA to snap three-day downtrend
  • GBP/JPY seesaws around intraday high, takes a U-turn from two-week low.
  • Bull flag, MACD conditions keep buyers hopeful, 157.20 is the key level.
  • Sellers may refrain from fresh entry beyond 200-SMA.

GBP/JPY grinds higher around an intraday peak, up 0.22% on a day near 156.55 heading into Monday’s London open.

The cross-currency pair rises for the first time in the last four days while picking up bids inside a bull flag chart pattern, not to forget mentioning the bounce off 100-SMA.

Given the recently firmer MACD line supporting the quote’s rebound, the GBP/JPY prices are likely to remain firmer for a while. However, a confirmation of the bull flag, by a clear upside break of 157.20 resistance, becomes necessary for the pair buyer’s dominance.

Following that, tops marked so far in January 2022 and October 2021, respectively around 157.80 and 158.25, may act as intermediate hurdles during the theoretical rally targeting the May 2016 peak of 163.90.

Meanwhile, pullback moves may initially test the 100-SMA level of 155.90 before challenging the lower line of the stated flag, around 155.60.

Even so, 50% Fibonacci retracement of December 20, 2021, and January 05, 2022 upside, around 153.65 and 153.30 in that order, will act as important challenges for the GBP/JPY bears before giving them the controls.

GBP/JPY: Four-hour chart

Trend: Further upside expected

 

06:34
USD/JPY Price Analysis: Bulls cross 200-SMA but 115.10 appears tough nut to crack USDJPY
  • USD/JPY grinds higher around intraday top, extends previous day’s bounce off monthly low.
  • Bullish MACD signals, upside break of the key moving average favor buyers.
  • Convergence of 100-SMA, 50-SMA and fortnight-old descending trend line challenge bulls.

USD/JPY stays firmer around 114.50, up 0.26% intraday heading into Monday’s European session.

In doing so, the yen pair extends the previous day’s rebound from a multi-day low to cross the 200-DMA, around 114.35 at the latest.

A clear upside break of 114.35 joins bullish MACD signals to keep buyers hopeful to aim for the 115.00 threshold, also comprising 38.2% Fibonacci retracement (Fibo.) of November 30, 2021, to January 04, 2022 upside.

However, the confluence of the 50-SMA, a fortnight-long resistance line and 100-SMA becomes a crucial hurdle around 115.10 for the USD/JPY bulls to cross afterward.

Meanwhile, 61.8% and 78.6% Fibo. levels, respectively around 114.00 and 113.40, will restrict the quote’s short-term declines before directing USD/JPY sellers towards the late 2021 bottom surrounding 112.50.

Overall, USD/JPY prices are likely to remain firmer but the 115.10 level will be a test for the pair bulls.

USD/JPY: Four-hour chart

Trend: Further upside expected

 

06:28
EUR/USD: Upside pressure alleviated below 1.1390 – UOB EURUSD

In opinion of FX Strategists at UOB Group, the upside momentum in EUR/USD could lose traction below the 1.1390 level.

Key Quotes

24-hour view: “Last Friday, we highlighted that ‘upward momentum has waned somewhat and this coupled with overbought conditions suggests that EUR is unlikely to strengthen much further’ and we expected EUR to ‘trade between 1.1435 and 1.1485’.  EUR subsequently rose to 1.1482 before dropping sharply to close at 1.1414 (-0.34%). The swift and sharp drop appears to be running ahead of itself and the risk of a sustained decline from here is not high. Overall, EUR is more likely to trade sideways at these lower levels, expected to be between 1.1390 and 1.1445.”

Next 1-3 weeks: “We have expected EUR to strengthen since last Wednesday (12 Jan, 1.1370). In our latest narrative from Friday (14 Jan, spot at 1.1455), we held the view that ‘overbought shorter-term conditions could lead to a couple of days of consolidation first’. However, instead of consolidating, EUR pulled back sharply and dropped to a low of 1.1397 during NY session. Upward momentum is beginning to wane and a break of 1.1390 (no change in ‘strong support’ level from Friday) would indicate that 1.1515 is out of reach this time round. In order to rejuvenate the flagging momentum, USD has to move and stay above 1.1445 within these 1 to 2 days or a break of 1.1390 would not be surprising.”

06:21
Gold Futures: Further losses not ruled out

Open interest in gold futures markets rose by nearly 8K contracts on Friday, leaving behind the previous day’s pullback, according to preliminary readings from CME Group. Volume, instead, reversed three consecutive daily builds and shrank by around 110.3K contracts.

Gold remains supported by $1,800

Friday’s second drop in a row in prices of gold was amidst rising open interest, which is indicative that further decline remains on the table at least in the very near term. Against that, the $1,800 mark per ounce troy still emerges as a solid contention in case sellers regain control of the market.

06:09
USD/TRY: Lira pares intraday losses around $13.50 ahead of Turkish budget data
  • USD/TRY struggles to extend previous day’s losses, retreats from intraday high.
  • Finance Minister Nureddin Nebati said Turkey's annual inflation rate will be in single digits before mid-2023.
  • US holidays will restrict market moves amid inactivity of the bonds, equities markets.

USD/TRY drops towards $13.52 while consolidating intraday gains heading into Monday’s European session. In doing so, the Turkish lira (TRY) pair portrays the market’s indecision ahead of the country’s Budget data for December amid an off in the US bond and equities markets.

It’s worth noting that the hawkish comments from Turkey’s Finance Minister (FinMin) Nureddin Nebati propelled the TRY prices despite overall US dollar strength the previous day. Turkish FinMin Nebati said, per Reuters, “Inflation in Turkey will come down to single digits by the time of presidential and parliamentary elections set for mid-2023 after it soared to a 19-year high of 36% in December.”

Turkish diplomat also signaled further conversion of forex holdings to Turkish lira in the coming weeks, which in turn signals further USD/TRY weakness.

It should be observed that the US dollar’s pullback during a sluggish session adds to the USD/TRY pullback. That said, the US Dollar Index (DXY) fails to extend the previous day’s U-turn from the lowest levels since November 10, down 0.01% intraday to refresh daily lows at 95.14 by the press time. The greenback gauge cheered hints of faster rate-hikes, mainly due to virus-led negative impacts on inflation, on Friday.

Hawkish comments from Federal Reserve Bank of San Francisco President Mary Daly and New York Fed President John Williams contrasted downbeat US data on Friday to propel the DXY. Though, TRY had its reasons to rise, namely hopes of easing inflation and softer USD.

Looking forward, a holiday in the US will join a light calendar, except for Turkish Budget Balance for December, prior 32B, which may restrict USD/TRY moves. Though, recent weakness in the USD and firmer sentiment for TRY may keep the quote pressured.

Technical analysis

Failures to cross the 50% Fibonacci retracement (Fibo.) of October 26 to December 20, 2021 upside, around $13.90, keep USD/TRY sellers hopeful. However, the 20-DMA level of $12.95 precedes the 61.8% Fibo. level surrounding $12.82 to test the short-term bears.

06:03
Forex Today: Quiet start to the week, dollar recovery loses steam on MLK Day

Here is what you need to know on Monday, January 17:

Markets have started the new week in a calm manner and the US Dollar Index, which snapped a three-day losing streak on Friday, has gone into a consolidation phase above 95.00 early Monday. Bond and stock markets in the US will remain closed on Monday in observance of the Martin Luther King Jr. Day holiday. During the European trading hours, Germany's Bundesbank will release its Monthly Report. Later in the day, Manufacturing Sales data from Canada and Bank of Canada's (BOC) Business Outlook Survey will be featured in the North American economic docket. 

In the early Asian session, the data from China revealed that the Gross Domestic Product (GDP) expanded by 4% on a yearly basis in the fourth quarter. Although this reading came in weaker than the 4.9% growth recorded in the third quarter, it surpassed the market expectation of 3.6%. Additionally, annual Industrial Production in December increased by 4.3%, compared to analysts' estimate of 3.6%. On a negative note, Retail Sales rose by 1.7% in December (YoY), missing experts' forecast of 3.7%. Despite these mixed data releases, the market mood remains upbeat with the Nikkei 225 and the Shanghai Composite indexes rising 0.75% and 0.7%, respectively.

Meanwhile, the People's Bank of China (PBOC) announced on Monday that it has lowered the interest rate on 700 billion yuan ($110.19 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points to 2.85%. Additionally, the PBOC cut the 7-day reverse repo rate by 10 basis points to 2.1% from 2.2%. 

EUR/USD lost its traction before reaching 1.1500 on Friday and closed in the negative territory. Early Monday, the pair is moving sideways in a narrow band above 1.1400.

GBP/USD closed higher for the fifth straight week despite Friday's sharp retreat. The pair is staying relatively quiet below 1.3700 to start the new week.

After falling to its weakest level in three weeks at 113.50, USD/JPY staged a decisive rebound on the back of surging US Treasury bond yields on Friday. The pair continues to edge higher and was last seen rising 0.2% on the day at 114.44.

Gold turned south and erased a portion of its weekly gains on Friday as the benchmark 10-year US T-bond yield rose nearly 5% on the day. Nevertheless, XAU/USD managed to hold above key technical support levels that align near $1,800 and seems to have gone into a consolidation phase around $1,820.

USD/CAD registered weekly losses as the commodity-related CAD capitalized on rising oil prices. The barrel of West Texas Intermediate gained more than 7% last week. The pair has dipped below 1.2500 on Thursday but the renewed dollar strength allowed it to return to the mid-1.2500 area. 

Bitcoin spent the weekend in a very tight range and started to edge lower toward $42,000 early Monday. Ethereum rose for three straight days but lost its recovery momentum after meeting resistance at $3,400. ETH is down more than 2% so far on the day and is trading below $3,300.

05:55
BoJ: No change seen at its meeting this week – UOB

Lee Sue Ann, Economist at UOB Group, noted the BoJ is seen keeping its monetary conditions intact at its event on Tuesday.

Key Quote

“Our monetary policy outlook is unchanged as the uncertain near-term growth outlook and potentially even weaker inflation outlook (due to crude oil price correction) keeps our view that the BoJ will not be tightening anytime soon and will maintain its massive stimulus, possibly at least until FY2023”.

05:47
AUD/USD Price Analysis: 50-DMA probes bears inside monthly bullish channel AUDUSD
  • AUD/USD drops for the third consecutive day, fades bounce off intraday low.
  • 50-DMA, rising channel challenges sellers beyond 0.7155.
  • 100-DMA, upper line of the channel restricts short-term recovery.
  • Bulls need to cross 200-DMA to retake controls.

AUD/USD remains pressured inside a short-term bullish chart pattern but below the key moving averages as bears attack 0.7200 heading into Monday’s European session.

Given the sluggish oscillators, the quote is likely to remain inside a 1.5-month-long bullish channel formation.

However, a clear downside break of the 50-DMA level of 0.7210 becomes necessary for the AUD/USD sellers to aim for the stated channel’s support line, close to 0.7150 at the latest.

Should the pair drops below 0.7150, August month’s low near the 0.7100 threshold may offer an intermediate halt during the anticipated fall towards the year 2021 bottom surrounding 0.6990.

Meanwhile, the 100-DMA level of 0.7285 and the channel’s upper line around 0.7330 restrict short-term advances of the AUD/USD prices.

Even if the quote manages to rise past 0.7330, a descending trend line from May and the 200-DMA, respectively around 0.7405 and 0.7430, will be in focus.

Overall, the AUD/USD prices do grind lower but bears need a validation from 0.7150 level.

AUD/USD: Daily chart

Trend: Further weakness expected

 

05:31
EUR/USD struggles to defend 1.1400 amid mixed concerns on US holiday EURUSD
  • EUR/USD retreats from intraday high, consolidates the biggest daily fall in two weeks.
  • Omicron woes recede in the West but Fed rate-hike concerns weigh on sentiment, DXY seesaws after bouncing off nine-week low.
  • ECB’s Lagarde shows readiness to support price stability, Fed policymakers highlight virus-led challenges to inflation.
  • US bond, equities markets will be off due to Martin Luther King’s Birthday, risk catalyst will be important for fresh impulse.

EUR/USD seesaws around intraday high near 1.1420 amid a lackluster session during early Monday morning in Europe.

The major currency dropped the most in two weeks the previous day amid broad US dollar gains but a banking holiday in the US and mixed concerns seem to challenge the pair sellers afterward. Also testing the EUR/USD traders is a lack of major data/events.

US Dollar Index (DXY) fails to extend the previous day’s U-turn from the lowest levels since November 10, down 0.02% intraday to refresh daily lows at 95.14 by the press time. The greenback gauge cheered hints of faster rate-hikes, mainly due to virus-led negative impacts on inflation, on Friday.

Among the key supporters of Fed rate hikes were Federal Reserve Bank of San Francisco President Mary Daly and New York Fed President John Williams. It’s worth observing that US Retail Sales for December printed -1.9% MoM figure versus 0.0% expected and +0.2% prior. Further, the Michigan Consumer Sentiment Index for January also eased to 68.8 versus 70 forecasts and 70.6 previous readouts. The details also suggest that the highest inflation in 40 years weighs on consumer behavior.

On the other hand, ECB President Christine Lagarde reiterated the regional central bank’s readiness to keep the prices stable. However, comments like, “monetary accommodation is still needed for inflation to settle at the 2.0% target over the medium-term,” seemed to have again kept the Fed on the upper hand during the ECB v/s Fed battle.

Against this backdrop, the stock futures in the US and Europe remain pressured while Asia-Pacific equities trade mixed.

That said, German Bund yields will be eyed for clearer direction amid a lack of major data/events. Given the firmer bund yields, the EUR/USD prices may remain pressured but the risk catalyst is also important to watch for fresh impulse. Recently, the virus numbers have eased from their record tops in the US, the UK and Europe, which in turn tame the Omicron fears and put a floor under the pair prices. Though no clarity has been awarded in that direction and hence the pair’s near-term outlook remains sluggish ahead of the Fed’s meeting in the next week.

Technical analysis

EUR/USD took a U-turn after rising to the highest levels since November 11 the previous day. The downside move could be linked to Thursday’s Doji candlestick formation below the 100-day EMA, as well as the RSI retreat.

As a result, the EUR/USD pair’s latest weakness is likely to extend towards a convergence of the 50-day EMA and the resistance-turned-support line from September 03, around 1.1380. Also increasing the strength of the 1.1380 support are the multiple tops marked since November 16.

Alternatively, the 100-day EMA level of 1.1483 and the 1.1500 threshold guard the EUR/USD pair’s short-term rebound.

 

05:25
Japan PM Kishida: Coronavirus response is government's highest priority

Japanese Prime Minister Fumio Kishida said on Monday that the coronavirus response is the government's highest priority, as reported by Reuters.

"Serious shortage of hospital beds needs to be avoided at all cost," Kishida added and noted that they will bring forward COVID-19 vaccination booster shots for the elderly and the general public by up to 2 months.

Market reaction

The market mood remains upbeat toward the end of the Asian session and the Nikkei 225 Index was last rising 0.75% on a daily basis.

05:14
Japan's Suzuki: Will strive to stably issue JGB through close dialogue with markets

Japan's Finance Minister Shunichi Suzuki told parliament on Monday that they will strive to stably issue Japanese government bonds worth 215 trillion yen, $1.89 trillion, in the next fiscal year through close dialogue with markets, per Reuters.

"We will proceed with reform on both revenue and spending sides so as to achieve the fiscal 2025 primary surplus target without abandoning fiscal reform," Suzuki added. "We must first overcome the current crisis, restore the economy and tackle fiscal reform so that we can hand the future to the next generation."

Market reaction

These comments don't seem to be having a noticeable impact on the USD/JPY pair, which was last seen posting modest daily gains around 114.50.

05:07
Gold Price Forecast: XAU/USD rises above $1,813 key support amid USD pullback – Confluence Detector
  • Gold snaps two-day downtrend, refreshes intraday high at the latest.
  • DXY fades bounce off early November lows during US bank holidays.
  • Virus woes, Fed rate hike concerns remain on the table but China tries to stay positive.
  • $1,821 acts as an immediate hurdle, bears have a bumpy road to return.

Gold (XAU/USD) renews intraday high around $1,820, up 0.20% on a day heading into Monday’s European session. In doing so, the yellow metal cheers US dollar weakness, as well as mixed sentiment in the markets, to keep the bounce off the key support confluence.

That said, the US Dollar Index (DXY) fails to extend the previous day’s U-turn from the lowest levels since November 10, down 0.02% intraday to refresh daily lows at 95.14 by the press time. The greenback gauge cheered hints of faster rate-hikes, mainly due to virus-led negative impacts on inflation, on Friday. Federal Reserve Bank of San Francisco President Mary Daly said that the latest Omicron wave will extend the period that inflation will remain high. Fed’s Daly also signaled that officials are “going to have to adjust policy”. On the same line, Federal Reserve Bank of New York President John Williams said Fed is approaching a decision to begin raising interest rates.

Elsewhere, China’s Beijing tightens the rule for entry into the capital city after a jump in the covid cases while Japan also discusses heightened virus-led restrictions for Tokyo on witnessing more than 20,000 daily infections for the third consecutive day.

It should, however, be noted that firmer China Q4 GDP and hopes of faster economic recovery, as conveyed by the National Bureau of Statistics (NBS) Head Ning Jizhe seems to challenge the bears. On the same line could be the recently easing virus numbers from Australia, the UK and the US.

It’s worth noting that an off for the US banks limits Treasury bond moves and allows markets to consolidate Friday’s performance. However, Omicron woes and Fed rate-hike concerns may keep the gold prices pressured, even as technical confluence signals otherwise.

Read: Gold Weekly Forecast: Bulls to take action with a break above $1,830

Gold Price: Key levels to watch

The Technical Confluences Detector shows that the gold price stays firmer past $1,813 key support comprising Bollinger Band one-hour lower, 23.6% Fibo. on monthly and Bollinger Band four-hour lower.

However, a middle band of the Bollinger Band four-hour joins Fibonacci 38.2% one-day and SMA 10 on the four-hour chart to guard the quote’s immediate upside around $1,821.

Following that, a smooth run-up towards the $1,831 hurdle can’t be ruled out. The stated resistance includes the previous monthly high.

Meanwhile, a downside break of the $1,813 support will direct gold sellers towards the $1,810 mark including SMA 50 on 4H, SMA 200 on 1H and SMA on 1D.

In a case where the gold prices remain downbeat past $1,810, Fibonacci 61.8% one-week and Pivot Point one-day support 2 will act as an additional downside filter around $1,805 before directing the quote to $1,800 threshold, also including 38.2% Fibo. one-month.

Here is how it looks on the tool

fxsoriginal

About Technical Confluences Detector

The TCD (Technical Confluences Detector) is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc.  If you are a short-term trader, you will find entry points for counter-trend strategies and hunt a few points at a time. If you are a medium-to-long-term trader, this tool will allow you to know in advance the price levels where a medium-to-long-term trend may stop and rest, where to unwind positions, or where to increase your position size.

04:38
USD/IDR Price News: Rupiah pares intraday gains above $14,300 on mixed Indonesia trade numbers
  • USD/IDR struggles for clear direction for the second consecutive day.
  • Indonesia Exports, Trade Balance for December dropped below market consensus, prior.
  • Risk-on in Asia-Pacific battles virus woes, Fed rate hike concerns.

USD/IDR consolidates intraday losses around $14,325 during early Monday. The pair’s recent gains could be linked to the mixed trade numbers from Indonesia.

Indonesia’s headline Trade Balance eased to $1.02B versus $3.13B market consensus and $3.51B prior. Further, Exports eased to 35.3% growth compared to 40.4% forecast and 49.7% previous readouts but Imports rallied by 47.93% from 52.62% prior and 39.4% expected for December.

In addition to the mixed data, concerns surrounding coronavirus and Fed rate hikes also weigh on the Indonesia rupiah (IDR).

Although an off in the US banks limit Treasury bond moves, Friday’s comments from Federal Reserve Bank of San Francisco President Mary Daly and New York Fed President John Williams pushed faster rate hikes by the Fed and weighed on the risk appetite.

Elsewhere, China’s Beijing tightens the rule for entry into the capital city after a jump in the covid cases while Japan also discusses heightened virus-led restrictions for Tokyo on witnessing more than 20,000 daily infections for the third consecutive day.

It should be noted, however, that the People’s Bank of China’s (PBOC) 1-year Medium-Term Lending Facility (MLF) rate cut by 10 basis points (bps) to 2.85% joins hopes of faster recovery and upbeat Q4 China GDP to challenges IDR bears.

Moving on, risk catalysts will be the key for the near-term direction but an off in the US banks may restrict the market moves.

Technical analysis

USD/IDR seesaws between the 100-DMA and 200-DMA, respectively around $14,270 and $14,345, amid sluggish oscillators keeping sellers hopeful.

 

04:31
Japan Tertiary Industry Index (MoM) registered at 0.4% above expectations (-0.9%) in November
04:27
Indonesia Trade Balance below expectations ($3.13B) in December: Actual ($1.02B)
04:27
Indonesia Imports came in at 47.93%, above forecasts (39.4%) in December
04:20
NBS Head Jizhe: Downward pressure on China's economy still relatively big

Having conveyed mixed numbers for the world’s largest economy, National Bureau of Statistics (NBS) head Ning Jizhe crossed wires via Reuters during early Monday.

“China expects the operation of its property market to keep pace with steady growth of investment in the sector this year,” said the policymaker initially.

NBS Head Jizhe also mentioned that there was room for monetary policy to support growth, and added that he expected China's population to stay above 1.4 billion in the foreseeable future, per Reuters.

AUD/USD defends 0.7200

Considering the mixed comments, mostly upbeat, AUD/USD pares intraday losses following the news. However, downbeat S&P 500 Futures keeps the quote pressured around 0.7215 at the latest.

Read: AUD/USD stays pressured at 0.7200 amid upbeat China GDP, softer Retail Sales and risk-off mood

04:14
Asian Stock Market: China defends bulls from virus woes
  • Asian stocks trade mixed as concerns over China rate cuts, data battle Omicron fears.
  • Japan’s Tokyo up for escalating virus-led activity controls, Beijing raises bars for entry.
  • PBOC cuts 1-year MLF, China Q4 GDP came in upbeat but Retail Sales eased in December.
  • China NBS Head cites big downward pressure on the economy.

Markets in Asia part ways from S&P 500 Futures while grinding higher during early Monday. The reason could be linked to China as data from the regional leader and comments from the National Bureau of Statistics (NBS), as well as the People’s Bank of China (PBOC) rate cut, hint at further easy money policies. Even so, virus woes and fears of the faster Fed rate hike challenge the equity bulls.

That said, the MSCI’s index of Asia-Pacific shares outside Japan drops 0.30% while Japan’s Nikkei rises 0.80% by the press time. That said, Australia’s ASX 200 prints 0.30% intraday gains but New Zealand’s NZX 50 drops 0.10% at the latest.

Further, Chinese stocks are mostly up whereas Hang Seng prints mild losses amid geopolitical concerns and fears of another round of financial market crisis due to China-linked companies listed in Hong Kong.

It should be noted that the PBOC cut 1-year Medium-Term Lending Facility (MLF) rate by 10 basis points (bps) to 2.85% before the China Q4 GDP rallied to 4.0% versus 3.6% expected and 4.9% previous readouts. Following the data release, NBS Head Ning Jizhe said that there was room for monetary policy to support growth while citing risks of big downside pressure on the economy.

Talking about the virus, China’s Beijing tightens the rule for entry into the capital city after a jump in the covid cases while Japan also discusses heightened virus-led restrictions for Tokyo on witnessing more than 20,000 daily infections for the third consecutive day.

Amid these plays, South Korea’s KOSPI drops over 1.0% as North Korea fired another ballistic missile whereas Indonesia’s IDX Composite declined 0.60% on softer trade numbers from Indonesia. Furthermore, India’s BSE Sensex remains indecisive around 61,270.

On a broader front, S&P 500 Futures prints 0.15% intraday losses whereas the US 10-yields rose 8.4 basis points (bps) to snap a four-day downtrend while closing at 1.793% on Friday.

Moving on, the key central bankers and top-tier data are likely to entertain investors during the current week. However, major attention will be given to the virus updates and Fed rate hike concerns.

04:07
Indonesia Exports below expectations (40.4%) in December: Actual (35.3%)
04:04
USD/CAD: BoC meeting eyed 26 Jan, hawks can hamstring bullish correction USDCAD
  • USD/CAD bulls could emerge for a run towards 1.2580 and 1.26 the figure. 
  • BoC sentiment and CPI data will be key drivers for this month. 

USD/CAD is under pressure at the start of the week and technically, a thrust to the upside could be on the cards once the imbalance of price has been fully mitigated to the downside. At the time of writing, USD/CAD, at 1.2536, is down some 0.13% after sliding from a high of 1.2557 to a low of 1.2535. 

The loonie has been in favour in recent days following a break of a number of daily structures to finally trade below 1.2620 to put in a low of 1.2453 last week. Since then, the price has been correcting the bearish impulse as the US dollar catches a safe haven and Fed driven bid. 

A thorn in the side of the CAD is down to the Covid situation in Canada which is rather quite serious. The strict measures to try and curb the spread of the new variant, Omricon, will inevitably weigh on the growth outlook between members of the board at the Bank of Canada.

BoC in focus

However, the market’s tightening expectations for the Bank of Canada remain broadly intact. The economy was strong before the fresh wave of the virus and there is optimism that this variant is not as lethal as prior variants of the disease.

The BoC will meet on the 26 January, so leading up to this, the Consumer Price Index figures for December will be key. These are expected to show another slight increase in headline inflation, which would be expected to drive further demand for the currency, so long as oil prices can remain elevated. 

USD/CAD technical analysis

Meanwhile, as per the prior technical analysis at the start of the Asian session, USD/CAD Price Analysis: The hourly 61.8% golden ratio is eyed for the opening sessions, the price is drifting lower into the prior resistance and towards a 61.8% Fibonacci retracement near 1.2530. 

1.2580 will be eyed as a day trading target for the European and US sessions if the bulls emerge at a discount for a test of a deeper correction the daily time frame towards 1.26 the figure. If, however, the 1.2530s give out in a significant way, a 4-hour close below 1.2520 for instance, then the focus will be on a restest of 1.25 the figure and 1.2480 for the days ahead. 

03:46
USD/INR Price News: Indian rupee struggles at one-week low, 74.10 in focus
  • USD/INR retreats from intraday high during three-day uptrend.
  • Firmer Momentum line, clear break of 50-SMA, descending trend line from December 24 keep buyers hopeful.
  • 100-SMA guards immediate upside, monthly low adds to the downside filters.

USD/INR eases from weekly top to 74.17 during early Monday morning in Europe. In doing so, the Indian rupee (INR) pair challenges the three-day rebound from the late September levels.

Even so, a clear upside break of the 50-SMA and a three-week-old descending trend line, around 74.10, keep USD/INR buyers hopeful. Also adding to the bullish bias is the firmer Momentum line.

With this, USD/INR bulls eye the 100-SMA level of 74.37 ahead of challenging the monthly peak near 74.70.

Following that, 200-SMA and 50% Fibonacci retracement of December 15 to January 12 downside, respectively around 75.00 and 75.15, will be crucial.

Meanwhile, a downside break of 74.10 will need validation from the 74.00 threshold before directing the USD/INR bears towards the latest swing low surrounding 73.70.

In a case where the quote remains bearish past 73.70, the 73.35 and September’s low around 72.90 should gain the pair sellers.

USD/INR: Four-hour chart

Trend: Further weakness expected

 

03:21
GBP/USD: UK politics is in the driving seat, BoE in focus also GBPUSD
  • GBP/USD will depend on politics in the coming days as PM Johnson's leadership is in question. 
  • Brexit will be moving back to the fore, Northern Ireland protocol are still set to prove challenging.
  • BoE hawkishness could underpin the pound as covid risks are dialled down. 

GBP/USD is around flat on the day so far in a quiet start to the week following a significant correction on Friday with demand for the US dollar that has otherwise been heavily offered at the start of the year. Cable is trading near 1.3680 within a narrow range of between 1.3661 and 1.3676 so far.

The pound may find solace this week on the back of the UK's Gross Domestic Product that was released on Friday which beat expectations. The data suggested that Omicron's impact on growth may ultimately prove modest.

UK politics in focus

In news of late, Prime Minister Boris Johnson may scrap his plan-B Covid restriction in England, the Telegraph on Friday. This could underpin the pound, ultimately, due to prospects of aggressive hawkish actions from the Bank of England. Data will be eyed for heading back to around pre-pandemic levels and inflation will be monitored.

However, UK political events in the UK could hamstring the pound as Prime Minister Boris Johnson is facing calls – also from within the Conservative party – to resign. The PM admitted he participated at a gathering in Downing Street in May 2020, when strict containment rules were in place (Partygate). Labour has argued that the PM may scrap the covid restriction to distract from Partygate. 

In just a few months, Johnson's popularity and sterling's robustness will be tested when local elections are held across England, Scotland and Wales on May 5. For now, this goes in the PM's favour while a civil investigation in Partygate is completed as it is broadly accepted across the party that removing Johnson before this date would be extremely dangerous, as no one could be certain what the consequence would actually be.

Elsewhere, Brexit is a potentially bigger risk for the pound. despite Truss’ first meeting with EU officials seeming to indicate somewhat of a less confrontational approach, the discussions over the Northern Ireland protocol are still set to prove challenging. 
 

 

02:30
Commodities. Daily history for Friday, January 14, 2022
Raw materials Closed Change, %
Brent 86.39 2.53
Silver 22.957 -0.49
Gold 1817.292 -0.24
Palladium 1872.5 -0.5
02:22
NZD/USD Price Analysis: Bears brace for monthly support below 0.6800 on mixed China data NZDUSD
  • NZD/USD drops for the second consecutive day, depressed around intraday low.
  • RSI retreat, failures to cross the key hurdles keep sellers hopeful.
  • Monthly support line can test the bears targeting the 2021 low.
  • 50-DMA, seven-week-old horizontal area restricts short-term advances.

NZD/USD holds onto the previous day’s weakness, down 0.26% around an intraday low of 0.6787 amid early Monday morning in Asia.

In doing so, the kiwi pair justifies the market’s risk-off mood and mixed data from China. The fourth-quarter (Q4) GDP rose past 0.2% prior and 1.1% forecasts to 1.6% QoQ while the YoY figures grew to 4.0% versus 3.6% expected and 4.9% previous readouts. Further, the Industrial Production (IP) for December rose above 3.6% market consensus and 3.8% prior to 4.3%. On the contrary, Retail Sales dropped below 3.7% market forecasts and 3.9% previous reading to 1.7% in December.

NZD/USD extends downside below 50-DMA after reversing from a seven-week-old horizontal hurdle surrounding 0.6890. The latest weakness takes clues from the RSI retreat but the bullish MACD signals keep the pair buyers hopeful until it drops below a monthly support line, around 0.6750 by the press time.

Should the quote decline below 0.6750, the year 2021 low near the 0.6700 threshold and the 61.8% Fibonacci Expansion (FE) of the pair’s moves between November 15 and December 24, around 0.6650, will be in focus.

Alternatively, the 50-DMA level of 0.6855 precedes a seven-week-old horizontal hurdle surrounding 0.6890 to limit short-term advances.

However, a clear upside break of 0.6890 should trigger a run-up targeting the mid-November lows near 0.6980.

NZD/USD: Daily chart

Trend: Further weakness expected

 

02:14
AUD/USD stays pressured at 0.7200 amid upbeat China GDP, softer Retail Sales and risk-off mood AUDUSD
  • AUD/USD remains on the back foot, down for the third consecutive day after China data.
  • China Q4 2021 GDP, Industrial Production rose past market consensus and previous readouts but Retail Sales dropped in December.
  • Market sentiment stays sour amid virus fears, Fed rate-hike concerns.
  • US bank holiday may restrict market moves but pair sellers can keep the reins.

AUD/USD pokes intraday low surrounding 0.7195, down 0.25% on a day, after China released the key economics during early Monday. In addition to the mixed data, risk-off mood and firmer USD also drowns the Aussie pair prices.

China’s fourth-quarter (Q4) GDP rose past 0.2% prior and 1.1% forecasts to 1.6% QoQ while the YoY figures grew to 4.0% versus 3.6% expected and 4.9% previous readouts. Further, the Industrial Production (IP) for December rose above 3.6% market consensus and 3.8% prior to 4.3%. On the contrary, Retail Sales dropped below 3.7% market forecasts and 3.9% previous reading to 1.7% in December.

Read: China data beats expectations besides Retail Sales miss, AUD/USD holds around 0.7200

In addition to the mixed data, coronavirus fears and chatters surrounding the faster Fed rate hikes also drown the AUD/USD prices, mainly due to its risk barometer status.

China’s Beijing tightens the rule for entry into the capital city after a jump in the covid cases while Japan also discusses heightened virus-led restrictions for Tokyo on witnessing more than 20,000 daily infections for the third consecutive day.

At home, Australia witnesses a fourth consecutive day of easy daily covid infections, the latest are around 65,000. It should be observed that Australia’s most populous state New South Wales (NSW) reported the biggest daily covid-linked deaths on Friday with 29 deaths, recently easing to 17 cases. Even so, Australian health authorities are confident NSW will see a plateau in its COVID-19 hospitalizations next week, as the state's numbers track "better than the best-case scenario" predicted, per ABC News.

Concerns around the Fed’s rate hike also grew stronger on Friday’s comments from Federal Reserve Bank of San Francisco President Mary Daly and New York Fed President John Williams.

Amid these plays, S&P 500 Futures drop 0.20% intraday by the press time while the US 10-year Treasury futures extend decline with the CBT TN contract implied yield rises to 1.85%, versus Friday’s close near 1.793%.

With the early signals of the stronger US Treasury yields and risk-off mood, AUD/USD prices are likely to remain pressured but a light calendar in the US and bank holidays will restrict the market moves.

Technical analysis

A clear downside break of the 50-DMA level surrounding 0.7200 becomes necessary for the AUD/USD bears to aim for the support line of a monthly ascending trend channel, around 0.7150.

On breaking the 0.7150 level, AUD/USD defies the bullish chart pattern and could drop towards the 2021 low surrounding 0.6990.

Alternatively, 50-DMA level surrounding 0.7285 and the stated channel’s upper line, near 0.7335, restricts the quote’s short-term advances.

Overall, sluggish MACD conditions and RSI retreat join the pair’s failures to stay beyond the key moving averages to keep the sellers hopeful.

 

02:07
USD/TRY Price Analysis: Bears stay in charge despite firmer US dollar
  • USD/TRY remains in the hands of the bears.
  • US dollar is coming up for air, but TRY is firm below daily resistance.

Technically, USD/TRY remains stuck in a sideways range between the 13.00 and 14.00 areas. The US dollar, as measured by the DXY index, is firmer and correcting the recent bearish thrust below daily channel support:

DXY daily chart

Nevertheless, the bears remain at the table and from a political front, the lira could find further stability as we approach planned elections scheduled for no later than mid-2023. 

President Erdogan's opinion poll ratings are down as Erdogan's scheme to curb the lira's weakness has not gone to plan.

However, as the technical outlook stands, the case for both the bulls and bears remains while the price continues to consolidate in familiar territory as follows:

USD/TRY daily chart

02:05
China data beats expectations besides Retail Sales miss, AUD/USD holds around 0.7200 AUDUSD

The Gross Domestic Product (GDP) released by the National Bureau of Statistics of China has been released as follows:

  • China GDP (YoY) Q4 4.0% (est 3.3%; prev 4.9%).
  • China Q4 2021 GDP 1.6% QoQ.

Retails Sales and Industrial Production was also released as follows:

  • China Retail Sales (YoY) Dec 1.7% (est 3.8%; prev 3.9%).
  • China Industrial Production (YoY) Dec 4.3% (est 3.7%; prev 3.8%)

AUD/USD is steady on the release around 0.72 the figure.

  • AUD/USD Price Analysis: Bears pressure 0.72 the figure, eyes on key employment data

About China GDP

The Gross Domestic Product (GDP) released by the National Bureau of Statistics of China studies the gross value of all goods and services produced by China. The indicator presents the pace at which the Chinese economy is growing or decreasing. As the Chinese economy has influence on the global economy, this economic event would have an impact on the Forex market. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish).

02:02
China Fixed Asset Investment (YTD) (YoY) came in at 4.9%, above forecasts (4.8%) in December
02:00
China Gross Domestic Product (QoQ) registered at 1.6% above expectations (1.1%) in 4Q
02:00
China Industrial Production (YoY) registered at 4.3% above expectations (3.6%) in December
02:00
China Gross Domestic Product (YoY) registered at 4% above expectations (3.6%) in 4Q
02:00
China Retail Sales (YoY) below forecasts (3.7%) in December: Actual (1.7%)
01:45
USD/CNY fix and liquidity operations: 6.3599 vs est 6.3604, PBoC to sell 700 Bln Yuan of 1-year MLF

In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.3599 vs the estimate of 6.3604 and the prior 6.3677.

Additionally, in the repo market, the central bank is to sell 700 Bln Yuan of 1-Year MLF with 500 Bln yuan maturing and it has cut the rate to 2.85% from 2.95%.

About the fix

China maintains strict control of the yuan’s rate on the mainland.

The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled.

Each morning, the People’s Bank of China (PBOC) sets a so-called daily midpoint fix, based on the yuan’s previous day closing level and quotations taken from the inter-bank dealer.

01:38
Goldman Sachs slashes US GDP 2022 from 3.8% to 3.4%

In its latest US GDP forecasts, Goldman Sachs (GS) cuts the year 2022 predictions to 3.4% from 3.8% previous estimations.

The diminishing expectations for fiscal stimulus and the spread of the Omicron variant are the likely two main causes cited by the GS for the GDP downgrade.

It’s worth noting that the US bank expected the year 2021 GDP to be around 5-6%.

Although the latest US GDP forecasts are grim, the figures stay above the GS 1.75% estimate of trend growth.

Read: This Week In Markets: Chinese GDP data is expected to slow further in Q4

01:31
Beijing tightens rules for entering city after Omicron case, China GDP eyed

Beijing will require travellers to get a COVID-19 test within 72 hours of arrival in the Chinese capital, state media announced on Sunday, a day after the city reported its first Omicron case and as it readies to stage the Winter Olympics next month, Reuters reports. 

Lab testing found “mutations specific to the Omicron variant” in the person, Pang Xinghuo, an official at the city’s disease control authority, told a news briefing.

Millions of people across the country have been ordered to stay at home in recent weeks, with scores of domestic flights cancelled and factories shut down, impacting the oil price and risk sentiment in markets. 

In the same vein, at the top of the hour, China's Gross Domestic Product will be out which could drive further demand into the US dollar on a major disappointment. 

DXY index, daily chart

01:30
Schedule for today, Monday, January 17, 2022
Time Country Event Period Previous value Forecast
00:00 (GMT) Eurozone Eurogroup Meetings    
02:00 (GMT) China Industrial Production y/y December 3.8% 3.6%
02:00 (GMT) China Retail Sales y/y December 3.9% 3.7%
02:00 (GMT) China Fixed Asset Investment December 5.2% 4.8%
02:00 (GMT) China GDP y/y Quarter IV 4.9% 3.6%
04:30 (GMT) Japan Tertiary Industry Index November 1.5%  
13:30 (GMT) Canada Foreign Securities Purchases November 23.92  
13:30 (GMT) Canada Manufacturing Shipments (MoM) November 4.3% 3.1%
15:30 (GMT) Canada Bank of Canada Business Outlook Survey    
21:00 (GMT) New Zealand NZIER Business Confidence Quarter IV -11  
01:25
EUR/USD Price Analysis: Drops towards 1.1380 support confluence EURUSD
  • EUR/USD extends the previous day’s pullback from nine-week top.
  • Doji below the key EMA  directs sellers toward 50-day EMA, previous resistance line.
  • Bullish MACD, key support to challenge sellers afterward.

EUR/USD takes offers to refresh intraday low around 1.1405, down 0.08% on a day during Monday’s Asian session.

The major currency pair took a U-turn after rising to the highest levels since November 11 the previous day. The downside move could be linked to Thursday’s Doji candlestick formation below the 100-day EMA, as well as the RSI retreat.

As a result, the EUR/USD pair’s latest weakness is likely to extend towards a convergence of the 50-day EMA and the resistance-turned-support line from September 03, around 1.1380. Also increasing the strength of the 1.1380 support are the multiple tops marked since November 16.

During the quote’s weakness past 1.1380, the 1.1350 and the 1.1300 round figures may entertain the sellers ahead of directing them to an upward sloping support line from November 24, around 1.1275 at the latest.

Alternatively, the 100-day EMA level of 1.1483 and the 1.1500 threshold guard the EUR/USD pair’s short-term rebound.

Following that, lows marked during early November and October, respectively near 1.1515 and 1.1525, will challenge the pair buyers.

EUR/USD: Daily chart

Trend: Further weakness expected

 

01:02
When is China’s Q4 GDP and how could it affect the AUD/USD? AUDUSD

Early Monday, the market sees the fourth quarter (Q4) GDP and annualized figures of December month Retail Sales and Industrial Production from the National Bureau of Statistics of China at 02:00 GMT.

The data will be the key considering the dragon nation’s recent struggle amid the virus resurgence and financial market risks.  Another reason for the importance of the said figures is recently positive surprises, by way of upbeat economics, from the world’s largest commodity user and Australia’s biggest customer.

Forecasts suggest China’s Q34 GDP to print mixed outcomes with 1.1% QoQ and 3.6% YoY figures versus 0.2% and 4.9% respective market consensus. Further, Retail Sales and Industrial Production (IP) data bear negative forecasts of 3.7% and 3.6% versus 3.9% and 3.8% earlier readouts in that order.

Ahead of the data, Reuters said,

China's economy likely grew at the slowest pace in 1-1/2 years in the fourth quarter, dragged by weaker demand due to a property downturn, curbs on debt and strict COVID-19 measures, raising the heat on policymakers to roll out more easing steps.

How could it affect the AUD/USD?

AUD/USD remains on the back foot around 0.7210, down 0.11% intraday, during early Monday. In doing so, the risk barometer pair portrays the market’s fears of the coronavirus as well as the Fed rate hike.

Given the headline numbers from the world’s largest industrial player, the data will undoubtedly be the key for all traders, mainly the ones who like AUD/USD. It should also be noted that the figures from China have recently flashed upbeat outcomes and hence markets await the actual release amid mixed clues considering the virus resurgence and financial market turmoil in Beijing. Even so, the outcome could provide wild swings to the Aussie pair but gains to the Aussie pair are likely to be tamed even if the actual reading print upbeat results, due to the Omicron and hawkish Fed concerns.

Technically, AUD/USD remains pressured inside a short-term bullish chart pattern but below the key moving averages. Given the sluggish oscillators, the quote is likely to remain inside a 1.5 month-long bullish channel formation. That said, a convergence of the 20-DMA and 50-DMA restricts the Aussie pair’s immediate downside to around 0.7210.

Key Notes

AUD/USD: Sour sentiment directs sellers towards 0.7200 ahead of China GDP

AUD/USD Price Analysis: Bears pressure 0.72 the figure, eyes on key employment data

About China’s GDP   

The Gross Domestic Product (GDP) released by the National Bureau of Statistics of China studies the gross value of all goods and services produced by China. The indicator presents the pace at which the Chinese economy is growing or decreasing. As the Chinese economy has an influence on the global economy, this economic event would have an impact on the Forex market. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative ( or Bearish).

About China's Industrial Production

Industrial output is released by the National Bureau of Statistics of China. It shows the volume of production of Chinese Industries such as factories and manufacturing facilities. A surge in output is regarded as inflationary which would prompt the People’s Bank of China would tighten monetary policy and fiscal policy risk. Generally speaking, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the CNY (and AUD), whereas a low reading is seen as negative (or Bearish) for the CNY (and AUD).

About China's Retail Sales

The Retail Sales report released by the National Bureau of Statistics of China measures the total receipts of the retailed consumer goods. It reflects the total consumer goods that the various industries supply to the households and social groups through various channels. It is an important indicator to study the changes in the Chinese retail market and reflecting the degree of economic prosperity. In general, A high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.

01:01
USD/CAD Price Analysis: The hourly 61.8% golden ratio is eyed for the opening sessions USDCAD
  • USD/CAD is correcting from daily resistance and 1.2530s are eyed. 
  • A deeper correction can move to 1.25 the figure.

As per the prior series of analyses for USD/CAD, USD/CAD Price Analysis: Bulls moving in for the kill, 38.2% Fibo 1.2550 eyed, the price has continued to track a typical price action path and is pressuring the 1.2550s as forecasted.

USD/CAD prior analysis

At the time of the prior analysis, the daily chart showed that the price had run into an area of demand and had stalled. This exposed the 38.2% Fibonacci retracement level near 1.2550 for the current week.

The price has reached the target area:

At this juncture, bulls will be looking for a discount and for a bullish structure to mount towards a deeper retracement of the daily bearish impulse and through the current layer of resistance.

USD/CAD 4-hour chart

The 4-hour chart is showing that the price is meeting the 4-hour resistance structure and is being rejected. This could give rise to a deeper correction into the prior resistance that has a confluence of the 61.8% ratio at 1.25 the figure, or at least to the 50% mean reversion mark as illustrated above near 1.2520. 

USD/CAD H1 chart

The hourly chart, however, shows structure higher up which will need to be overcome first near 1.2530.

00:51
WTI Price Analysis: Retreats from three-month high but $80.00 is the key support
  • WTI pares intraday gains after refreshing multi-day high.
  • Overbought RSI conditions favor pullback moves towards November’s peaks.
  • 10-DMA, two-week-old support line appears a tough nut to crack for the bears.
  • Immediate rising trend line, 2021 top challenge the oil bulls.

Having initially jumped to the highest levels since late October, WTI crude oil prices eased to $83.75 during Monday’s Asian session.

In doing so, the black gold reacts to the overbought RSI conditions while stepping back below an upward sloping trend line from January 06.

Considering the RSI conditions and the commodity’s failures to stay firmer around the multi-day top, the quote’s declines towards the late October 2021 tops surrounding $83.50 become imminent.

Following that, $82.40 and $81.00 can entertain the WTI crude oil sellers.

However, a convergence of the 10-DMA and a two-week-old support line, near $80.00, becomes crucial to watch, a break of which will direct WTI bears towards the 61.8% Fibonacci retracement (Fibo.) of October-December downside, near $76.30.

On the flip side, the immediate resistance line, around $84.60, restricts the quote’s short-term advances ahead of the year 2021 peak, marked in October around $85.00.

WTI: Daily chart

Trend: Further weakness expected

 

00:29
USD/JPY stays firmer past 114.00 on strong US dollar USDJPY
  • USD/JPY refreshes intraday high, extends bounce off monthly low.
  • DXY rallied the most in two weeks the previous day amid firmer yields, weekend positioning.
  • Japan’s Machinery Orders rallied in November, virus woes worsen.
  • US banks are off today, risk catalysts are the key for fresh impulse.

USD/JPY takes the bids to refresh intraday high around 114.40, up 0.16% intraday, as the US dollar stays on the front foot during Monday’s Asian session.

The greenback benefited from strong Treasury yields and weekend positioning the previous day to mark the heaviest daily run-up in a fortnight. That said, the risk barometer pair’s latest strength could be linked to the firmer data from Japan despite growing fears of the coronavirus. It’s worth noting that the US banks are off due to Martin L. King's Birthday, which in turn limits US bond trading for the day.

In contrast to the recently easing covid numbers in the West, virus figures do escalate in the Asian major of late. “Japan's confirmed daily coronavirus cases on Sunday topped 20,000 for the third consecutive day, as the country continues to battle with the rapid spread of the Omicron variant,” said the Kyodo News. Earlier in the day, Fuji news raised concerns over tighter coronavirus measures are being considered for Tokyo.

Further, Japan’s Machinery Orders rallied past 6.1% YoY forecasts to 11.6% in November, versus 2.9% prior.

It’s worth noting that the hawkish Fed collided with downbeat US data to propel the US Dollar Index (DXY) on Friday. Federal Reserve Bank of San Francisco President Mary Daly said that the latest Omicron wave will extend the period that inflation will remain high. Fed’s Daly also signaled that officials are “going to have to adjust policy”. On the same line, Federal Reserve Bank of New York President John Williams said Fed is approaching a decision to begin raising interest rates.

On the other hand, US Retail Sales for December printed -1.9% MoM figure versus 0.0% expected and +0.2% prior. Further, the Michigan Consumer Sentiment Index for January also eased to 68.8 versus 70 forecasts and 70.6 previous readouts. The details also suggest that the highest inflation in 40 years weighs on consumer behavior.

Amid these plays, S&P 500 Futures remain directionless around 4,655 whereas the Nikkei 225 rises 1.0% intraday by the press time. The US 10-yields rose 8.4 basis points (bps) to snap a four-day downtrend while closing at 1.793% on Friday.

Moving on, chatters surrounding the virus may entertain USD/JPY traders as the Fed policymakers have already sneaked into the blackout period whereas the US bank holiday and a light calendar add to the trading filters.

Technical analysis

Unless rising back beyond the previous support line from late September, around 114.65 by the press time, USD/JPY prices remain vulnerable to revisit the late 2021 lows surrounding 113.15.

 

00:15
Currencies. Daily history for Friday, January 14, 2022
Pare Closed Change, %
AUDUSD 0.72161 -0.87
EURJPY 130.332 -0.34
EURUSD 1.14156 -0.34
GBPJPY 156.221 -0.16
GBPUSD 1.3683 -0.18
NZDUSD 0.68101 -0.7
USDCAD 1.2546 0.33
USDCHF 0.91357 0.28
USDJPY 114.173 0.02
00:03
United Kingdom Rightmove House Price Index (YoY) increased to 7.6% in January from previous 6.3%
00:02
UK self-isolation law set to be scrapped in favor of move towards ‘learning to live with Covid’ – Telegraph

“Boris Johnson wants to permanently repeal emergency coronavirus laws as case numbers continue to fall,” per the latest UK Telegraph piece published late Sunday. The news also adds, “Instead, official guidance would remain in place which encourages people to behave in certain ways, but would not result in fines or legal punishment if ignored.”

Key quotes

People will no longer be legally bound to self-isolate when they catch Covid-19 under plans being drawn up by Downing Street to learn to live with coronavirus in the long term.

It would also mean there would be no legal requirement to isolate after contact with someone who has Covid or to wear face masks in certain settings.

A senior government source told The Telegraph: “Lots of legal requirements were put in place during the pandemic.

The move comes as hope grows that this winter’s Covid surge triggered by the emergence of the omicron variant is easing, with daily case numbers continuing to fall.

On Sunday, the Government said a further 70,924 lab-confirmed Covid-19 cases have been recorded in the UK.

The Department of Health reported 88 deaths on Sunday within 28 days of testing positive for Covid-19 - a 9.2 percent decline on the 97 fatalities recorded on the same day the week before.

Downing Street is looking at three different drives to ease pandemic restrictions, some short-term and some long-term.

The so-called Plan B restrictions are expected to be largely lifted on January 26, the review date that the Prime Minister set when he imposed them last month.

FX implications

The news seems to help the GBP/USD prices to stay afloat past the 1.3655 support confluence following the last week’s pullback from the 200-DMA.

Read: GBP/USD Price Analysis: Further downside hinges on 1.3655 break

00:02
United Kingdom Rightmove House Price Index (MoM) up to 0.3% in January from previous -0.7%

NOVOSTI SA DEVIZNOG TRŽIŠTA

CURRENCY MARKET DEFINITION
The concept of currency market has several definitions:

  • Currency market is the sphere of economic relations that are manifested in the purchase and sale of currency values (foreign currency, securities in foreign currency), as well as operations related to the investment of capital in foreign currency;
  • Currency market is a financial center where currency purchase and sale transactions based on supply and demand for them are concentrated;
  • Curency market is a whole of authorized banks, investment companies, brokerages, exchanges, and foreign banks that perform foreign exchange operations.
  • Currency market is a whole of communications systems that link banks in different countries that conduct international currency transactions.

Simply put, currency market is the market where currency transactions are made, that is, the currency of one country is exchanged for the currency of another country at a certain exchange rate. The exchange rate is the relative price of currencies of two countries or the currency of one country expressed in another country's monetary units.

Currency market is part of the global financial market, where many operations related to the global movement of capital take place.

TYPES OF MARKETS. RUSSIAN AND INTERNATIONAL CURRENCY MARKETS
There are international and domestic currency markets.

Domestic currency market — is a market within a single country.

The international currency market — is a global market that covers currency markets of all countries in the world. It does not have a specific site where trading is carried out. All operations within it are carried out through a system of cable and satellite channels that link the world's regional currency markets. Regional markets today include the Asian (with centers in Tokyo, Hong Kong, Singapore, and Melbourne), the European (London, Frankfurt am Main, and Zurich), and the American (New York, Chicago, and Los Angeles) markets.

Currency trading on the international currency market is carried out on the basis of market exchange rates, which are set on the basis of supply and demand in the market and under the influence of various macroeconomic data. Forex is the international currency market.

Currency markets can also be divided into exchange and over-the-counter markets. Exchange currency market is an organized market where trading is carried out through an exchange—a special company that sets trading rules and provides all the conditions for organizing trading under these rules.

Over-the-counter currency market — is a market where there are no certain trading rules, and purchase and sale operations are not linked to a specific place of trade, as opposed to the case of an exchange.

As a rule, an over-the-counter currency market is organized by special companies that provide services for the purchase and sale of currencies, which may or may not be members of the currency exchange. Trading operations in this market are now carried out mainly via the Internet.

The over-the-counter currency market is much larger than the exchange market in terms of trading volume. The Forex international over-the-counter currency market is considered the most liquid in the world. It operates around the clock in all financial centers of the world (from New York to Tokyo).

CURRENCY MARKET FUNCTIONS
Currency market— is the most important platform for ensuring the normal course of all global economic processes.

The main macroeconomic functions of the currency market are:

  • creating conditions for the subjects of foreign exchange relations to make timely international current and capital payments and thereby promoting the development of foreign trade;
  • providing conditions and mechanisms for the implementation of monetary and economic policy of the state;
  • diversifying foreign exchange reserves;
  • forming the exchange rate under the influence of supply and demand;

NEWS IMPACT
Various currencies are the main trading tool in the currency market. Exchange rates are formed under the influence of supply and demand in the market.

In addition to that, currency rates are influenced by many fundamental factors related to the global economic situation, events in national economies, and political decisions.

News about these factors can be found in various sources:

  • Reports showing a country´s level of economic development.

The more stable an economy is developing, the more stable its currency is. Accordingly, it is possible to predict how the currency will behave in the near future, based on statistical data published in official sources of countries with a certain regularity.
This data includes:

  • GDP
  • unemployment;
  • return on equity;
  • consumer price index;
  • industrial price index;
  • propensity to consume;
  • salaries outside of the agricultural sector;
  • residential construction, etc.

Interest rate level, set by national authorities regulating credit policy, is an equally important indicator. In the European Union, this is ECB–the European Central Bank, in the US, this is the Federal Reserve System, in Japan—the Bank of Japan, in the UK—the Bank of England, in Switzerland—the Swiss national Bank, etc.

The interest rate level is determined at meetings of the national central bank. Then, the decision on the rate is published in official sources. If the central bank of a country reduces the interest rate, the money supply in the country increases, and the national currency depreciates against other world currencies. If the interest rate increases, the national currency will strengthen.

  • Speeches of country leaders, leading economists and analysts.

A speech or even a separate statement by a country's leader can reverse a trend. Speeches on these topics may change the currency exchange rate:

  • analysis of the situation on the currency market;
  • changes in monetary or economic policy;
  • adoption of a budget policy;
  • forecasts of the economic situation, etc.

All this news is published in various sources. Major international news is more or less easy to find in Russian, but news related to the domestic economic policy and the economy of foreign countries is much less common in the Russian press. Mostly, such news is published by the national media and in the language of the country where the news is published.

It is very difficult for one person to follow all the news at once, and they are likely to miss some important event that can turn the whole situation on the market upside down. Guided by our main principle—to create the best trading conditions for our customers—we try to select the most important news from all over the world and publish them on our website.

The TeleTRADE Department of Analytics monitors news on most national and international news sources on a daily basis and identifies those that can potentially affect exchange rates. These are the main news items that are included in our news feed.

In addition, all our clients have free access to the Dow Jones news feed. This is a joint project of Dow Jones Newswires, the world's largest news agency, and the leading Russian news agency Prime-TASS. The news feed is created specifically for currency traders and those who are interested in getting information about the world's currency markets.

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Upozorenje o rizicima

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