forex Sterling 1/20

Sterling could appreciate if it turns out that markets have been overly pessimistic about the impact of Brexit, HSBC says. That would reduce inflation even though consumer demand might "hold up better," HSBC economist Simon Wells says. However, U.K. consumers may be "in for a rude awakening" as the country faces a "protracted period" of slow potential economic growth and reduced employment, he says. "If they need to save more and spend less, this could weigh on confidence and push demand growth even lower than the weak expected growth effective supply."

forex

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forex EUR/USD chart 1/17

The following assumptions that have been made: - At least 20 pip forecast - The key level and chart pattern were at most 5 candles apart at time of identification

	Symbol : EURUSD

Direction : Identified time : 2020-01-17 13:01 GMT Breakout price : 1.11096 Forecast price : 1.10828 Forecast pips : 27 Probability : 68.46 %

Pattern : Channel Up Interval : 240 Min Pattern : Support Interval : 240 Min

US dollar

US dollar strengthens slightly against the euro and the yen as Philadelphia Fed's January business outlook survey indicated a rebound of manufacturing activity in the Mid-Atlantic region and December retail sales showed a solid end to the holiday sales season. Weekly jobless claims also declined from historically low levels. The WSJ dollar index rises 0.05% to 90.25, stuck in the middle of it's 52-week range.

Oil prices 1/16

Oil prices have done nothing exciting over the last few sessions despite a bearish EIA crude oil inventory report that showed production hit a new record high and as demand weakens. Last week’s oil bloodbath that saw the major de-escalation with the US-Iran conflict erased all the gains from the OPEC + alliance bigger than expected production cut pledge.  Yesterday’s inventory numbers saw huge builds with both gasoline and distillate inventories.  Since West Texas Intermediate crude did not collapse despite a majority of the market seeming to turn bearish, we may have seen a bottom put in place.  The next big move for crude may need to come an improving global outlook that may require further stimulus from Europe.  WTI could remain a choppy trade this week, but we could see the path be easier towards $60 than to the mid-$50s region.   

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