EUR/USD weekly special report based on 1.00 Lot Calculation:
· EVENT (U.S. NONFARM PAYROLLS - January 5, 2024 13:30 GMT): The United States is set to release its latest print for Nonfarm Payrolls for the month of December. If the print comes in lower than expected as it did for the month of October, this could weaken the dollar and as a result push the EURUSD pair higher.
· EVENT (U.S. INFLATION CPI - January 11, 2024 13:30 GMT): The United States is expected to release its CPI inflation figures for the month of December on January 11, 2024. Inflation has been steadily falling since its peak of 9.1% in July 2022 to 3.1% as of the latest reading. If the print comes in lower than expected this could weaken the dollar and push the EURUSD pair higher.
· EVENT (U.S. FEDERAL RESERVE INTEREST RATE DECISION - January 31, 2024 19:00 GMT): On January 31, 2024, the Federal Reserve will announce its decision on interest rates. Despite an 83.5% chance of no change, the Fed signaled three 0.25% interest rate cuts in 2024, but the market anticipates six cuts according to the CME FedWatch Tool, potentially reducing rates from 5.50% to 4.50%. Lower interest rates in the US typically devalue the US Dollar, suggesting a potential push in the EURUSD price.
· EVENT (EUROZONE INFLATION CPI YoY DEC - January 5, 2024 10:00 GMT): The European Central Bank is expected to release its CPI Inflation reading for the month of December on January 5, 2024. If the reading comes out higher than expected this will indicate that the ECB will need to keep interest rates higher which could potentially push the price of the EURUSD higher.
· EVENT (ECB INTEREST RATE DECISION - January 25, 2024 13:15 GMT): The European Central Bank is expected to make its decision on interest rates on January 25, 2024. Despite the Eurozone inflation falling since its peak in 2022, ECB Members like Robert Holzmann have stated that it is premature to think about rate cuts suggesting a potential push in the EURUSD price.
EURUSD, December 28, 2023
Current Price: 1.110
EUR/USD |
Weekly |
Trend direction |
|
1.150 |
|
1.135 |
|
1.124 |
|
1.098 |
|
1.095 |
|
1.090 |
EUR/USD |
||||||
Pivot Points |
||||||
Profit or loss in $ |
4,000.00 |
2,500.00 |
1,400.00 |
-1,200.00 |
-1,500.00 |
-2,000.00 |
Profit or loss in €² |
3,599.10 |
2,249.44 |
1,259.68 |
-1,079.73 |
-1,349.66 |
-1,799.55 |
Profit or loss in £² |
3,132.73 |
1,957.96 |
1,096.46 |
-939.82 |
-1,174.78 |
-1,566.37 |
Profit or loss in C$² |
5,291.44 |
3,307.15 |
1,852.00 |
-1,587.43 |
-1,984.29 |
-2,645.72 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 13:00 (GMT) 28/12/2023
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