The week ahead: 8th-12th January
This week begins with a quiet Monday, something quite typical it would seem, yet we do have the FOMC member Williams speaking in the evening and thus could create a volatile period during his speech yet I doubt the effect shall be significant throughout either the dollar/yen market or within Spot Gold market.
Yet again for Tuesday we see similar to Monday, numerous data releases however none of significant effect I believe will influence the market. Which makes Tuesday quite a dangerous day as I have no idea how far the market will move during the day trading period.
Wednesday is continuing the trend of being mighty anti-dramatic in terms of potential big data releases. But we do have the UK's Manufacturing Production m/m, which is showing a forecast above the previous month at 0.3%. This will have little effect on the Gold market but might result in a short rally in the Cable, but how far I don't know.
The 4th day of the week is as always typically busier, we have a couple of data releases in the US which will effect the Gold and Dollar/Yen markets for sure. First there is the US PPI m/m results, showing a forecast of a decline from last month by 0.2%. And then after, there is the weekly US Unemployment Claims which is showing a 2k decline from last week at a forecast of 248k. These are the two main influences on Thursdays market and thus might cause a strong dip in the Dollar/Yen if hit and thus maybe this could further shift Gold to levels not seen for quite some time, $1330?
Friday has 4 key releases all at 1:30pm GMT, and of course they are all US pieces of data. There is the CPI m/m results showing a decline from last month by 0.2%, then there is the Core CPI m/m with a forecast positive compared to last month. While after we have the Core Retail Sales m/m and Retail Sales and these both show quite a big dip in comparison to last month. So this might mean we see a further continuing of the Bull seen the week just gone. But furthermore, Thursday as stated above is also showing data which should dip the dollar and thus the Gold spot rally might continue deep into next week and Friday's close thus could be hitting heights not witnessed for over 7 months, however as always this does depend how close actual results are to forecast levels, have a good week and peace!
The Naive Trader.
Forex Factory, 2018
Investing.com, 2018
Yet again for Tuesday we see similar to Monday, numerous data releases however none of significant effect I believe will influence the market. Which makes Tuesday quite a dangerous day as I have no idea how far the market will move during the day trading period.
Wednesday is continuing the trend of being mighty anti-dramatic in terms of potential big data releases. But we do have the UK's Manufacturing Production m/m, which is showing a forecast above the previous month at 0.3%. This will have little effect on the Gold market but might result in a short rally in the Cable, but how far I don't know.
The 4th day of the week is as always typically busier, we have a couple of data releases in the US which will effect the Gold and Dollar/Yen markets for sure. First there is the US PPI m/m results, showing a forecast of a decline from last month by 0.2%. And then after, there is the weekly US Unemployment Claims which is showing a 2k decline from last week at a forecast of 248k. These are the two main influences on Thursdays market and thus might cause a strong dip in the Dollar/Yen if hit and thus maybe this could further shift Gold to levels not seen for quite some time, $1330?
Friday has 4 key releases all at 1:30pm GMT, and of course they are all US pieces of data. There is the CPI m/m results showing a decline from last month by 0.2%, then there is the Core CPI m/m with a forecast positive compared to last month. While after we have the Core Retail Sales m/m and Retail Sales and these both show quite a big dip in comparison to last month. So this might mean we see a further continuing of the Bull seen the week just gone. But furthermore, Thursday as stated above is also showing data which should dip the dollar and thus the Gold spot rally might continue deep into next week and Friday's close thus could be hitting heights not witnessed for over 7 months, however as always this does depend how close actual results are to forecast levels, have a good week and peace!
The Naive Trader.
Forex Factory, 2018
Investing.com, 2018
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