It is All About This Week, Have a Look
A hectic week is about to an end. Let’s quickly check the Key Indicators of the week and Central Bank’s Statements.
Key FOMC Statements:
- U.S. dollar depreciated drastically after the Federal Reserve projected three Interest Rate hikes in 2022.
- Fed going to end QE program in Feb 2022 rather than May 2022.
- Fed Chair Powell was hawkish on the Job market and upgraded GDP as well as Inflation forecasts.
Key U.K. MPC Statements:
- Bank of England surprised the market with its first rate hike in three years.
- There was no change to the asset-purchase programme with government bond purchases remaining at £875bn.
- ECB left interest rate unchanged.
- ECB upgraded its inflation forecasts and lowered its 2022 GDP predictions.
- It is “very unlikely ECB will raise rates in 2022.
- The Gold rises on Friday and tocuehs $1,809 mark.
- U.S. Economic Calendar is empty for the day.
- U.S. FOMC member Waller’s Speech is in focus scheduled at 1800 GMT/2330 IST. (Due to speak about the economic outlook at the Forecasters Club of New York. Audience questions expected)
- Today pair made intraday high at $1,809 and low at $1,797 mark.
- A day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $1,809 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,797 will check further supports.
Take a look and do trade wisely!