Gold Remains on Uptrend above $1,550

Good morning Yadix traders,

Below are today’s market news, trending pairs and key highlights:

• Gold is trading strongly above the key $1,550 support against the Dollar
• A major bullish support is forming near $1,561 on XAU/USD
• US Durable Goods Orders increased 2.4% in Dec 2019, +0.5% up on the forecasted
• The US Pending Home Sales is expected to increase 0.5% in Dec 2019 (MoM).

Today's Notable Chart (Gold)

Best regards,

Liam Cooper

Support Team

Yadix Forex Broker

Telephone: +44(0) 20 3239 6117

Skype: yadix.forex

Telegram: @YadixForex

WhatsApp: +447585424285

 

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The Forex Markets Main Events: Week 27.01 — 31.01

Review of upcoming of all the important Economic events this week.

Last week, the US dollar gained strength vs. its currency competitors. The Bank of Japan, the Bank of Canada and the ECB all have kept their monetary policies at the same levels and avoided any shock moves.

From around the world, investors are very concerned about the growing risks of coronavirus from China, the Queen of the United Kingdom has signed a bill on the country's exit from the European Union (EU), which was prepared by Prime Minister Boris Johnson, the next stage the deal should be ratified by the European Parliament, which is scheduled for January 29.

In the upcoming trading week, the markets will pay close attention to the following events.

Monday

During Monday, the following releases are expected:

• German IFO business climate index at 09:00 GMT
• New home sales in the US at 15:00 GMT.
• China's markets will be closed due to the holiday

Tuesday

On Tuesday, investors will focus on important economic reports from the US:

• Durable goods orders at 13:30 GMT
• CB consumer confidence index at 15:00 GMT
• China's markets will be closed due to the holiday

Wednesday

The Fed meeting will take place at 19:00 GMT on Wednesday. It is expected that the monetary policy will be kept at the same level.

Important economic releases:

• Consumer price index in Australia at 00:30 GMT
• Pending home sales in the US at 15:00 GMT
• China's financial markets will be closed due to the holiday.

Thursday

The Bank of England interest rate decision will be released at 12:00 GMT on Thursday. The markets will be paying close attention to the comments by representatives of the Central Bank.

Economic data releases are below: 

• German labor market report at 080:55 GMT
• US GDP data at 13:30 GMT
• China's financial markets will be closed due to the holiday.

Friday

The trading week will end with the release of the below  important economic releases:

• Industrial production and retail sales in Japan at 23:50 GMT
• Manufacturing PMI in China at 01:00 GMT
• Data on inflation and GDP in the Eurozone at 10:00 GMT
• Statistics on Canada's GDP at 13:30 GMT.

If you want to stay ahead of the Forex market trends, visit our tools section for a variety of different trading tools to help you improve as a trader: https://www.yadix.com/forex-trading-community/forex-trading-tools/

The Forex Markets Main Events: Week 20.01 — 24.01

Review of upcoming Economic events this week

Last week, the US dollar showed a variety of trends vs. its main currency competitors. Washington and Beijing signed the phase-one deal, taking a step toward resolving the long-standing trade dispute and Vice President Mike Pence has said the second phase of negotiations have already begun and confirmed the parties are working to resolve the differences. 

There were several optimistic economic releases that supported the US currency. Investors focus is on the meetings of the Bank of Japan, Bank of Canada and the ECB.

In the upcoming trading week, the markets will pay close attention to the following events.

Monday

Monday is a quiet day regarding news. At 07:00 GMT the German producer price index will be published. 

The US financial markets will be closed due to the holiday.     

Tuesday
 
The Bank of Japan will announce its interest rate decision on Tuesday.

The following statistics will be in focus for investors:

• UK labor market report at 09:30 GMT
• German ZEW economic sentiment at 10:00 GMT). 

Wednesday
 
The Bank of Canada meeting will take place at 15:00 GMT on Wednesday. It is expected that the regulator will keep key marks of monetary policy at the same level. Important economic releases include also:

• Core consumer price index in Canada at 13:30 GMT
• Existing home sales in the US at 15:00 GMT.

Thursday
 
The ECB monetary policy meeting will be the key event at 12:45 GMT on Thursday. The markets will be paying attention to the comments by representatives of the Central Bank. Investors will assess the following statistics:

• Australian labor market report at 00:30 GMT
• Consumer price index in New Zealand at 21:45 GMT.      

Friday
 
The trading week will end with the release of the below  important economic releases:

• Indicators on economic activity in Germany and the Eurozone at 08:30 GMT+2:00 and 09:00 GMT
• Statistics on economic activity in the UK at 09:30 GMT
• Retail sales in Canada at 13:30.  

If you want to stay ahead of the Forex market trends, visit our tools section for a variety of different trading tools to help you improve as a trader: https://www.yadix.com/forex-trading-community/forex-trading-tools/      

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Skype: yadix.forex

New Trading Year Resolutions – Best Tips to Boost Trading Success in 2020

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1.    The Trend is your Friend
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