Clients of the Tifia broker get exclusive access to high-quality materials from independent analytical agency Claws&Horns in their Client Cabinet: technical and fundamental market analysis, Forex economic event calendar, currency, stock, index forecasts, trading indicators signals and much more.
18.09.2020
At 08:00 (GMT+2), the UK data on changes in the volume of retail sales for August will be published. It is considered an indicator of consumer spending and reflects the total number of receipts for purchases in retail stores. A high reading is positive for the pound, while a low reading is negative. The indicator is expected to grow by 0.7% MoM and by 3.0% YoY.
At 01:30 (GMT+2), be data on changes in the national consumer price index for August will be released in Japan. The indicator reflects the assessment of price dynamics obtained by comparing the retail prices of the corresponding basket of goods and services. The high value of the indicator is positive for the yen. The indicator is expected to grow by 0.6% YoY.
17.09.2020
Weekly data on initial jobless claims from the USA will be released at 14:30 (GMT+2). The indicator measures the number of people who applied for unemployment benefits for the first time in the past week. These data are collected by the Department of Labor and published in a weekly report. Initial Jobless Claims indicator is used to measure the state of the labor market, since an increase in the indicator means that fewer people are hired. It is expected that the indicator may decrease from 884K to 850K.
Bank of England decision on the interest rate and the follow-up statement are due at 13:00 (GMT+2). If the regulator shows a "bullish" attitude towards the inflation forecast in the economy and raises the interest rate, this is a positive factor for GBP. Reducing the rate or maintaining it at the same level is regarded as a negative factor. It is expected that the regulator will keep the rate at the level of 0.1%.
The pair has been showing a slight decline since the opening of the session, trading at 1.3224.
USD is showing active growth against CHF today, testing the level of 0.9130 for a breakout.
The USD/JPY pair declined amid negative investor reaction to the US Federal Reserve's decision, trading at 105.00.
AUD shows moderate decline against USD during today's Asian session, while maintaining a flat direction of trading in the short term.
The pair is in a correction and may grow.
On the daily chart, the third wave of the higher level (3) develops, within which the wave 3 of (3) formed. Now, a local correction is developing as the fourth wave 4 of (3), within which the wave a of 4 has formed, and the wave b of 4 is developing. If the assumption is correct, the pair will grow to the levels of 1.3196–1.3481. In this scenario, critical stop loss level is 1.2757.
The pair is in a correction, a fall is possible.
On the daily chart, the first wave of the higher level 1 of (3) develops, within which the wave iii of 1 formed. Now, a local correction is developing as the fourth wave iv of 1, within which the wave (c) of iv is forming. If the assumption is correct, the pair will fall to the levels of 1.1642–1.1472. In this scenario, critical stop loss level is 1.1903.