Tuesday 23rd May
GBPJPY - Flash Manufacturing PMI - 9.30am
GBPJPY - Flash Services PMI - 9.30am
Forecast: 47.9/55.5
Friday 21st April
Forecast: 48.3/52.9
Actual: 46.6 worse than expected/54.9 - better than expected
GBPJPY
Price was falling throughout the Asian session
Mixed data with Flash PMI services being positive, after a short bullish spike, price pushed down until H4 which was respected and caused a reversal
Key Points
Fall in manufacturing production - customer destocking, elevated energy costs and subdued demand for big ticket consumer goods
USD - Flash Manufacturing PMI -14.45pm
USD - Flash Services PMI - 14.45pm
Forecast: 50.0/52.6
Friday 21st April
Forecast: 49.0/51.5
Actual: 50.4 /53.7- better than forecast
Gold price ranged during London's morning session into the afternoon and pushed above the range at NY open 15min before the news release
XAU/USD
Gold dropped straight down 215pips on the news release
*Higher than 50.0 number is good for the USD
Key Points
Overall output prices rose at the fastest pace for the first time in 7 months
Stronger demand conditions, improving supply...supported the expansion
Wednesday 24th May
GBP - CPI - 7.00am
Forecast:8.2%
Wednesday 19th April
Forecast: 9.8%
Actual: 10.1% - better than expected
GBPJPY
Price shot up 110pips on the news release breaking resistance, 90% retracement then price continued up slowly
Key Points
Higher inflation then expected, higher chance of increased interest rates better for GBP
Down from 10.4% previous month
Largest upward contributions from utilities, food and drinks
Thursday 25th May
USD - Prelim GDP - 13.30pm
Forecast: 1.1%
Thursday 23rd February
Forecast: 2.9%
Actual: 2.7% - worse than expected
XAU/USD
Gold fell whipsawed sharply below the 1825 support and closed back above. Later in the NY session morning gold continued its bearish trend and slowly fell, filling most of the news wick
Key Points
US economy grew less than expected in final 3 months of 2022
Could be a sign of the impact of the FED interest rates increase
Friday 26th May
USD Core PCE Price Index - 13.30pm
Forecast:0.3%
Friday 28th April
Forecast: 0.3%
Actual: 0.3%
XAU/USD
Indecision candle on news release, price came out as expected. Candle did drop down to H4 support + daily rejection area before pushing back up
Key Points
FED preferred measure of underlying inflation - target is 2% reading
Employment cost rose 1.2% at the same time
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