The direction of major currency pairs like USD/JPY, GBP/USD, and EUR/USD will be heavily influenced by central bank meetings and key economic data.
Key Events:
- Feb 1: Federal Reserve meeting (FOMC)
- Feb 1: Bank of England meeting (BoE)
- Feb 1: US ISM Manufacturing PMI
- Feb 1: Eurozone inflation data
- Feb 2: US Nonfarm Payrolls
USD/JPY:
- Downward trend likely if USD strengthens from FOMC and positive PMI.
- Target levels: 144.64, 143.90, 143.02, 142.25.
- Watch for US labor market data and Fed meeting outcome.
GBP/USD:
- Current Price: 1.2670
- Trend: Sideways
- Recent News: Fed meeting suggests hawkish stance, supporting GBP upside.
- BoE Meeting: Key event. If hawkish, expect GBP to rise towards 1.2876.
- Technical Analysis: 4-hour chart shows bullish signals.
EUR/USD:
- Current Price: 1.0800
- Trend: Downward
- Recent News: Fed meeting slightly dovish, ADP data weakens US jobs outlook.
- Tomorrow’s News: US unemployment data could impact EUR direction.
- Technical Analysis: 4-hour chart shows bearish signals.
Gold:
- Bullish trend ongoing, potential to reach 2,055 or even 2,062.
- Strong resistance at 2,050, support at 2,037.
- Watch for gold’s reaction to Fed meeting and Powell’s speech.
Categories: Market News
