Market News

Important News of the Whole Week

Important News of the Whole Week

Prepare yourself! The new trading week has already started

Important news between 19 and 25 October 2020

Gross Domestic Product, China
WHEN: 19 October 2020

WHAT IT INFLUENCES: CNY and its subsequent pairs

WHAT'S HAPPENING: The Gross Domestic Product (GDP) released by the National Bureau of Statistics of China studies the entire value of all goods and services produced by China. It is the most comprehensive measure of economic activity and an essential indicator of economic health. A reading that is stronger than forecast is generally supportive or bullish sentiment for the CNY, while a weaker than forecast reading is generally negative or bearish sentiment for the CNY.

Building Permits, USA
WHEN: 20 October 2020

WHAT IT INFLUENCES: USD and its subsequent pairs

WHAT'S HAPPENING: The Building Permits released by the U.S. Census Bureau, at the Department of Commerce shows the number of permits for new construction projects. It indicates the movement of corporate investments (U.S. economic development). It tends to cause some volatility to the USD. Typically, if more permits are given out, it means investors will be bullish or optimistic about the USD.

Consumer Price Index, U.K.
WHEN: 21 October 2020

WHAT IT INFLUENCES: GBP and its subsequent pairs

WHAT'S HAPPENING: The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The Central Bank pays very close attention to this figure in its role of maintaining price stability. Because the Federal Reserve Bank believes that core inflation is a better gauge of underlying price pressures, it is watched more closely than overall inflation, which tends to be more volatile.

Retail Sales, Canada
WHEN: 21 October 2020

WHAT IT INFLUENCES: CAD and its subsequent pairs

WHAT'S HAPPENING: The Retail Sales released by Statistics Canada is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes. The retail sales index is often viewed as an indicator of consumer confidence, as it shows the performance of the retail sector in the short term. Positive economic growth anticipates bullish movements for the CAD.

Initial Jobless Claims, U.S.
WHEN: 22 October 2020

WHAT IT INFLUENCES: USD and its subsequent pairs

WHAT'S HAPPENING: The Initial Jobless Claims released by the U.S. Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance. In other words, it provides a measure of strength in the labor market. A larger than expected number indicates weakness in this market which influences the strength and direction of the U.S. economy. If jobless claims fall, it is seen as positive or bullish for the USD.

Existing Home Sales, U.S.
WHEN: 22 October 2020

WHAT IT INFLUENCES: USD and its subsequent pairs

WHAT'S HAPPENING: The Existing Home Sales report released by the National Association of Realtors provides an estimated value of housing market conditions. As the housing market is considered as an important factor for the U.S. economy, it generates some volatility for the USD. A high reading is positive for the dollar, while a low reading is negative.

Markit PMI Composite, the eurozone
WHEN: 23 October 2020

WHAT IT INFLUENCES: EUR and its subsequent pairs

WHAT'S HAPPENING: The Manufacturing Purchasing Managers' Index (PMI) is a diffusion index incorporating survey results provided by manufacturing firms throughout the region. A reading above fifty suggests the manufacturing sector is expanding, while a reading below fifty suggests the manufacturing sector is in contraction. Results are displayed by the questions asked, showing the percentage of respondents reporting an improvement, deterioration, or no change since the previous month. A reading that is stronger than forecast is generally supportive or bullish for the euro, while a weaker-than-forecast reading is generally negative or bearish for the euro.

Eager To Invest in  Gold Market Today, Get Quick Overview On It

Eager To Invest in Gold Market Today, Get Quick Overview On It

Comment on Gold on October 16, 2020:

-At the end of yesterday session, gold had one more day of increase when the price went as the scenario when it moved up from 1889 to 1908 ($ 19) and closed the daily candle at this same price area.
 - If you look at the force of the candlestick, many people will think that this is a candle that pushes the price up next, but in my opinion, although it is the second day of consecutive increase, yesterday's rally was in the range.  the rise of yesterday candle (Wednesday) yesterday candle is the candle that bounced up to the point where we can start to establish a sell position today.
 - Resistance zone pushes the precious metal price down for the day at 1908-1912 and the target will Gold move to the short term support zone at 1895 and beyond to around 1885 today.

Daily Quick Gold Market Update & News

Daily Quick Gold Market Update & News

???? Comment on Gold on October 15, 2020:

 ? ? Good day, we will continue with the comments about the precious metal Gold:
 - Yesterday, Gold ran in the correct scenario when it was judged to wait to buy at the 1885 price area and sell down around 1911. End of the session yesterday Gold closed the daily candle with a bullish candle after it was  There were bullish beats from 1882 to 1912 ($ 30) and fell back to close the daily candle at 1900.
 - We can see that Gold is re-tapping the short-term uptrend channel on the H4 timeframe along with the psychological resistance of 1900. As I mentioned in yesterday morning's comment, trendline channel  This plays an important role, if Gold breaks this price zone, there is a high possibility that it will drift back to 187x and the "old bottom" 1850. In case, if Gold fails to break, we may see it again.  192x price range 1 again.
 - Personally, today, I tend to wait for the price reaction around the threshold of 1895, how to react to decide which is best for today.