Forex News Letter: What’s In Focus Amid US Retail Data and FED Speech?

With a main focus on US retail and core retail data, the forex news will be mainly focusing on this.

However, several other factors are in play.

Let’s head in straight and find out what!!

TODAY IMP DATA:  RETAIL SALES & CORE RETAIL SALES 

Dollar index

 ( Yesterday We Recommended to BUY!! Above 102.85 ) 

( 1ST Target hit 103.06 )

                  Dollar index is trading around 103.02.

Below 102.88… Sell it.

Downside Targets Looks 102.68 — 102.40

Stop loss below 103.22.

 XAUUSD

 

( Yesterday We Recommended to Sell!! Below $2035 ) 

                               ( Target hit $2027–$2017 ) made a low of $2017                               

             Above  $2033…levels Only
                Upside Targets Looks  $2041–$2050.
            Stop-loss $2013.

XAGUSD

                           ( Yesterday We Recommended to Sell!! Below $23 ) 

           Above  $23.…levels Only
                  Upside Targets Looks  $23.20– 22.50.

                 Stop Loss 22.60.

COPPER

Below 3.72…Buy  it

                                          Downside Targets Looks 3.70 — 3.69.

                                                              Stop Loss 3.77.

                                    CRUDE OIL (WTI)

Crude Oil is Trading Around 70.82.

                                    Below 70.70.… Sell it!!

                             Downside Target 70.40–.70.20. 

                                       Stop Loss 71.60.       

    NASDAQ

 
          Sell Below 16810  Levels Only…!!
              Downside Target Looks 16750-16690.

      Stop-loss 17015.

                                                      S&P 500

                            ( Yesterday We Recommended to Sell!! Below 4780 ) 

                            ( Target hit 4770)

                                     S&P 500 Resistance 4887.
                                  Sell Below   4770…!!

                                            Downside Target Looks 4750-4730.

 TOP PICK- USDJPY

                                            

Buy Above  148.00   Stop-loss 147.590 Target 148.500 .

Forex News – Will Markets move according to US Consumption Data and FED speeches?

On Tuesday the FED governor, Christopher Waller warned that the bank is unlikely to trim rates while consumer inflation remains at a “striking distance”

In addition to the increasing tensions in the Red Sea, the safe haven of the US dollar is in prominent focus.

The incoming US retail sales data from December and FED speaker speeches are likely to boost the USD volatility.

That’s all for today folks, Happy Trading!!

Commodity Samachar
Learn and Trade with Ease

Also Read : Economic Outlook: Economic data from China, UK and US to be in focus today!! , Will the UK jobs report and Canadian CPI gives direction today?

Recommended Read : Forex News Letter: UK Numbers To Take Spotlight in Forex Market?

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