Economic Calendar January 12, 2024 – Analysis and Forecasts – January 12, 2024
🔴 Friday important news in FOREX market
Economic Calendar January 12, 2024
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⭐️⭐️⭐️ UK Gross Domestic Product (GDP) (MoM) (November) 🇬🇧
This data is the broadest measure of economic activity and a key indicator of economic health. The UK is expected to announce higher figures than before, which will have a positive impact on the British pound.
⭐️⭐️ US Core Producer Price Index (PPI) (MoM) (December) 🇺🇸
This data measures changes in selling prices for goods and services sold by producers, excluding food and energy. Recent data suggests the US dollar is expected to strengthen, rising from previous readings.
⭐️⭐️⭐️ US Producer Price Index (PPI) (MoM) (December) 🇺🇸
Similar to Core PPI, this data measures changes in the price of goods sold by producers. Recent data suggests expectations of a favorable launch of the US dollar with positive implications.
😀 It is worth noting that the latest data on CPI, core CPI and unemployment claims released on Thursday are all in favor of the US dollar. These positive trends set an optimistic outlook for the US dollar in early 2024.
#News #Forex
cash flow absorption chart
🔹 Potential cash flow absorption (major currencies, gold, oil) – January 12, 2024
🔹 The bigger the number on the chart, the more likely it is for that currency (taking into account all fundamental and prevailing sentiment factors) to absorb cash flows and achieve today’s growth (and vice versa).
🔹 Given that price changes in the market are often price balanced based on unfolding events, one important aspect of this chart is comparing daily changes to the previous day.
🔸 Numbers above 25 on the chart indicate potential for absorption and upward growth.
🔸 Numbers in the (25-10) range imply low potential for absorption and upside growth, even negative ranges.
✍🏻 Pay attention to changes in the cash flow absorption chart compared to the previous day. These changes drive market movements as markets constantly try to reach a new equilibrium based on unfolding events.
📈 Gold Key Technical Points – January 12, 2024
🔸 **Resistance:**
– $2055
– $2049
– $2040
▪️ **Support:**
– $2035
🔹 **Intraday View:**
– $2025
– $2015
✍🏻 As US inflation data was released, the market was overly optimistic, as has been repeatedly stated. Considering recent stock price trends and geopolitical discussions, you may want to consider a cautious approach to purchasing gold according to your personal strategy. An important support level for gold is $2025 (the $2015 range has proven to be very stable so far). The market could experience significant volatility in today’s New York session.
(🔸Resistance 🔹Support ▪️Current price)
#gold
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