Market Updates

EUR/USD

Last Wednesday’s strong CPI report, which showed a headline inflation of 5.4% (Core at 4%), keeps adding pressure to the “transitory” narrative and practically confirming the taper announcement by the Federal Reserve in next month’s meeting. EURUSD closed last week trading around the 1.1600 level after having found a new support around the 1.1540 area (minimum since July 2020). If the pair overcame the “psychological” figure, the next target level would be around 1.1685, which has worked as a support level for the pair since October 2020 and was only broken at the end of last September.

 

 

Currency Heatmap

The Currency Heatmap shows how the New Zealand Dollar keeps outperforming the rest of its major peers, with the Australian Dollar and the Canadian Dollar being the next in line. On the other side of the spectrum, we can find the Swiss Franc as the relatively weakest on the panel, followed with the Sterling which holds relatively stronger only against the Franc.

 

 

Gold

Gold finished last week roughly 0.6% up after last Friday’s selloff that pushed the price down over 1.5%. The price stopped around the USD/oz 1,767 level, which has been serving as the upper end of the price range within the precious metal had been trading for a month. If the price consolidated over this level, the next target price would be around the key level of USD/oz 1,800.

 

 

 

*Source Investing.com Calculator

 

After peaking above 2,408 points, Volatility is experiencing a significant reduction in comparison to last week, currently standing around 2,208 points.

 

Stocks to Watch

Earnings:Below are the stocks to monitor for the rest of the week will announce their earnings.

Dividends:The following stocks will be paying dividends over this week.

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information presented here.