- In today’s Economic Calendar we can expect some volatility in the USD and in the EUR
- At 12:30 (GMT) the Department of Labour Statistics of the USA will announce their Initial Jobless Claims
- That number measures how many people submit first-time claims for state unemployment insurance
- The result is forecasted an increase to 218,000 considering that last week was at 216,000
- At 12:45 (GMT) the European Central Bank (ECB) will announce their decision regarding the Deposit Interest Rate
- The result is predicted to remain unchanged as the previous month, at -0.5%
- At 13:30 (GMT) the President of the ECB will deliver a press conference relating to the Monetary Policy
- Dow Jones 30, Nasdaq 100, S&P 500: -4.90%
- UK FTSE 100: -5.79%
- DAX 30: -6.48%
- ITALIAN MIB: -3.62%
- Euro Stoxx: -6.81%
- Spanish IBEX: -6.74%
On the Charts
- The GBP/JPY price is now at 136.8
- The price is below the 61.8% Fibonacci Level at 136.77, and is testing the 76.4% Fibonacci Retracement Level at 134.30
- The price is below its 20 days and 50 days Moving Averages (MA)
- The 20 days MA (orange) crossed to the downside the 50 days MA (purple)
- If the price remains below the 136.90 price level, we could potentially see it declining to the previous support point at 130.70 or lower at 127.51
- Alternatively there’s a possibility the price could retest the previous resistance point, and the 61.8% Fibonacci Level at 136.7
Source : FXGM Investment Research Department / Bloomberg