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Germany's January ZEW economic sentiment index is expected at -16.0, while final readings of December consumer price index is estimated to be up 8.6% on year.

Germany's January ZEW economic sentiment index is expected at -16.0, while final readings of December consumer price index is estimated to be up 8.6% on year.| FXMAG.COM
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DAILY MARKET NEWSLETTER
January 17, 2023
 
   
 
 
 
Pre-Market Session
News Sentiment
Technical Views
 
 
 
   
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 1germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 1 Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
 
 
   
 
 
 
Price MovementAnalyst ViewsTargetPivot
 
Dax (Eurex)15,177.00
-26.00 (-0.17%)
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 2germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 2
15,110.00
15,230.00
 
 
FTSE 100 (ICE Europe)0.00
0.00 (0.00%)
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 4germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 4
7,823.00
7,864.00
 
 
S&P 500 (CME)4,007.00
-11.25 (-0.28%)
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 6germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 6
4,028.00
3,985.00
 
 
Nasdaq 100 (CME)11,552.25
-55.75 (-0.48%)
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 8germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 8
11,640.00
11,480.00
 
 
Dow Jones (CME)34,371.00
-45.00 (-0.13%)
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 10germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 10
34,490.00
34,230.00
 
 
Crude Oil (WTI)79.26
-0.60 (-0.75%)
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 12germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 12
78.50
79.75
 
 
Gold1,910.73
-5.30 (-0.28%)
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 14germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 14
1,900.00
1,919.00
 
 
 
 
   
 
 
 MARKET WRAP 
 
 
 
 
Market Wrap: Stocks, Bonds, Commodities

On Monday, the U.S. equity market was closed to observe Martin Luther King Day.

Meanwhile, European stocks were broadly higher. The DAX 40 rose 0.74%, the CAC 40 increased 0.74%, and the FTSE 100 was up 0.89%.

U.S. WTI Crude futures fell $1.05 to $78.81 a barrel.

Gold price eased $4 to $1,916 an ounce.

Market Wrap: Forex

The U.S. dollar index edged up 0.2% to 102.38.

EUR/USD slipped 10 pips to 1.0820. Germany's January ZEW economic sentiment index, due later in the day, is expected at -16.0

GBP/USD dropped 32 pips to 1.2195. Later today, the U.K. jobless rate for the three months to November is expected to be steady at 3.7%.

USD/JPY rose 68 pips to 128.55.

USD/CHF lost 4 pips to 0.9265.

Commodity-linked currencies were broadly lower against the greenback. AUD/USD fell 16 pips to 0.6952, while USD/CAD added 19 pips to 1.3415.

Bitcoin jumped 6.7% further to $21,302.

Morning Trading

In Asian trading hours, AUD/USD remained subdued at 0.6955 despite better-than-expected China's data. The Chinese government reported that fourth quarter gross domestic product grew 2.9% on year, above 1.5% expected.

Meanwhile, USD/JPY extended its rally to 129.05.

EUR/USD fell to 1.0815 and GBP/USD was down to 1.2180.

Gold dropped to $1,910.

Bitcoin eased to $21,098.

Expected Today

Germany's January ZEW economic sentiment index is expected at -16.0, while final readings of December consumer price index is estimated to be up 8.6% on year.

U.K. jobless rate for the three months to November is expected to be steady at 3.7%.

In the U.S., January Empire State manufacturing index is estimated at -5.2.
 
 
 
 
 UK MARKET NEWS 
 
 
 
 
U.K. jobless rate was steady at 3.7% for the September-November period as expected, according to the government.

Rio Tinto, a giant miner, reported that fourth quarter iron ore shipments grew 4% on year to 87.3 million tons and production was up 6% to 89.5 million tons.

Ocado, an online grocery retailer, reported that fourth quarter revenue grew 0.3% on year to 549 million pounds. The company added that it has started financial year 2023 strongly with record Christmas sales, up 15% over the five days before Christmas.

Experian, a consumer credit reporting company, posted third quarter year-on-year revenue growth of 4% and organic growth was 6%.

Diageo, an alcoholic beverage company, announced that it has agreed to acquire Don Papa Rum, a super-premium, dark rum from the Philippines, for an upfront consideration of 260 million euros with a further potential consideration of up to 178 million euros through to 2028 subject to performance.

Banks, health care and technology shares gained most in London on Friday.

From a technical point of view, Diageo (+0.6% to 3701.5p) crossed above its 50-day moving average.
 
 
 
 
 ECONOMIC CALENDAR   
 
 
 
TimeEventForecastImportance
 
02:00
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 16germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 16
Employment Change (Oct)
15k
HIGH
 
 
02:00
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 17germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 17
Claimant Count Change (Dec)
16k
HIGH
 
 
02:00
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 18germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 18
Unemployment Rate (Nov)
3.7%
HIGH
 
 
02:00
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 19germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 19
Average Earnings incl. Bonus (3Mo/Yr) (Nov)
6.1%
MEDIUM
 
 
02:00
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 20germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 20
Average Earnings excl. Bonus (3Mo/Yr) (Nov)
6.2%
LOW
 
 
02:00
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 21germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 21
HMRC Payrolls Change (Dec)
129k
LOW
 
 
05:00
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 22germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 22
3-Year Treasury Gilt Auction
 
LOW
 
 
08:30
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 23germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 23
NY Empire State Manufacturing Index (Jan)
-5.2
MEDIUM
 
 
11:30
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 24germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 24
3-Month Bill Auction
 
LOW
 
 
11:30
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 25germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 25
6-Month Bill Auction
 
LOW
 
 
 
 
   
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 26
 
 
 
   
 
 
 NEWS SENTIMENT 
 
 
 
 
Rio Tinto PLC
6,096.00 GBp
 
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 27germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 27
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 28germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 28germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 29germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 29
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 30germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 30germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 31germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 31
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 32germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 32germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 33germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 33
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capita PLC
27.78 GBp
 
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 34germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 34
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 35germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 35germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 36germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 36
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 37germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 37germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 38germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 38
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 39germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 39germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 40germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Siemens AG
142.32 EUR
 
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 41germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 41
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 42germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 42germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 43germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 43
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 44germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 44germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 45germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 45
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 46germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 46germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 47germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 47
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Volkswagen AG
161.95 EUR
 
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 48germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 48
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 49germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 49germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 50germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 50
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 51germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 51germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 52germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 52
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 53germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 53germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 54germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 54
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Eqs Group AG
22.00 EUR
 
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 55germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 55
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 56germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 56germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 57germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 57
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 58germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 58germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 59germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 59
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 60germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 60germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 61germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 61
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BP PLC
481.00 GBp
 
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 62germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 62
 
 
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 63germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 63germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 64germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 64
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 65germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 65germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 66germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 66
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 67germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 67germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 68germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 68
 
 
 
 
 
 
 
 
 
 
 
 TECHNICAL VIEWS 
 
 

 
 
EUR/USD Intraday: key resistance at 1.0845.
 
Pivot:
1.0845
 
Our preference:
Short positions below 1.0845 with targets at 1.0800 & 1.0780 in extension.
 
Alternative scenario:
Above 1.0845 look for further upside with 1.0860 & 1.0875 as targets.
 
Comment:
As long as the resistance at 1.0845 is not surpassed, the risk of the break below 1.0800 remains high.
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 69germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 69
 
 
 
 
 
 
 

 
 
Euro Stoxx 50 (Eurex)‎ (H3)‎ Intraday: consolidation in place.
 
Pivot:
4178.00
 
Our preference:
Short positions below 4178.00 with targets at 4141.00 & 4124.00 in extension.
 
Alternative scenario:
Above 4178.00 look for further upside with 4190.00 & 4201.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 70germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 70
 
 
 
 
 
 
 

 
 
Brent (ICE)‎ (H3)‎ Intraday: key resistance at 85.10.
 
Pivot:
85.10
 
Our preference:
Short positions below 85.10 with targets at 84.00 & 83.50 in extension.
 
Alternative scenario:
Above 85.10 look for further upside with 85.60 & 86.40 as targets.
 
Comment:
As long as 85.10 is resistance, look for choppy price action with a bearish bias.
 
germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 71germany s january zew economic sentiment index is expected at 16 0 while final readings of december consumer price index is estimated to be up 8 6 on year grafika numer 71
 
 
 

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