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💱 Target levels and forecast for the week 02.01 – 06.01
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Recall the fundamental events that you need to pay attention to (GMT 0 time):
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Tue, 03
CNY: Caixin Manufacturing PMI (01:45)
GBP: Manufacturing PMI (09:30)
USD: Manufacturing PMI (14:45)
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Wed, 04
USD: ISM Manufacturing PMI, Manufacturing Employment , JOLTs Job Openings (15:00)
EUR: Services PMI, S&P Global Composite PMI (09:00)
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Thu, 05
CNY: Caixin Services PMI (01:45)
GBP: Services, Composite PMI (09:30)
USD: ADP Nonfarm Employment Change (13:15); Trade Balance , Initial Jobless Claims (13:30); Services, S&P Global Composite PMI (14:45); Crude Oil Inventories (+Cushing) (16:00)
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Fri. 06
JPY: Services PMI (00:30)
GBP: Construction PMI (09:30)
EUR: CPI (10:00)
USD: Nonfarm Payrolls (13:30); ISM Non-Manufacturing PMI (15:00)
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For more news − see Economic Calendar.
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The main factor influencing the market remains the risk of a recession in the US due to uncontrolled inflation and critically high-interest rates. We recommend paying special attention to all PMI and CPI data for December and Q4.
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We remind you that there will be no Fed meeting in January, which means that the markets will not be under pressure from its decisions. So after the December sales, there may be a local increase in demand for risky assets. And here the main role will be played by data on consumer inflation in the US, the publication of which is scheduled for next week.
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Low liquidity of the market remains, and large players will appear no earlier than Friday − before the publication of the December NFP.
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The technical situation for short-term transactions can be correctly assessed at the beginning of next week.
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Profits to y’all!