OPEC production data from the U.S. Energy Information Administration (EIA) only includes crude oil production data.
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Japanese households and businesses on Friday entered a three-month period of conserving electricity to prevent a power crunch amid a record-breaking heat wave, marking the first time in seven years that the government has made such a request.
Damon
Damon
The Fed began to outline their plan for moving short-term interest rates higher with hikes to the Fed Funds rate and for the cessation of long duration asset purchases and a "roll off" of bonds on their balance sheet.
Damon
Japan's confidence index of large manufacturing industries continued to decline in the second quarter, with the decline widening from the previous quarter. The Tankan index released once a quarter is an important indicator of economic sentiment in Japan. Among them, the confidence index of large man
The U.S. PCE slowed down in May, and the rise of the market's expectation of peaking inflation has weakened the attractiveness of gold, gold price breaks below further in the short term.
The recent economic rally has been driven mainly by the natural recovery after the pandemic and the release of previously pent-up demand. The strength of the subsequent recovery is yet to be observed. With the current lack of momentum and greater uncertainty over the development of the pandemic, the
Continuous USDJPY bearish divergence happens at highs in multiple timeframes. At present, a potential double tops pattern may appear near 137.0, making it bearish for the pair in the short term.
The U.S. PCE slowed down in May, and the rise of the market's expectation of peaking inflation has weakened the attractiveness of gold, gold price breaks below further in the short term.
US PCE data will be released during the day. If inflation rises further, the market will expect the Federal Reserve to raise interest rates aggressively (75 basis points), then the economic recession worries will reappear, and gold is expected to rise (whether gold is favored or not by a safe-haven
Attention should be paid to the discussions on monetary policy at the European Central Bank Forum by the central bankers of the United States (U.S.), the United Kingdom (U.K.), and Europe, which may trigger a new round of movements.
The recent US economic data has been poor, and the market has been trading "recession" expectations. The gold price is still trapped in the range and fluctuates repeatedly in the short term.
On 30 June, international oil prices were mixed. Despite the increase in US refined oil products inventory, the tight global supply and demand situation is expected to limit the decline of oil prices.
The WTI and Brent crude oil opened with a drop this week as the G7 will pledge indefinite support for Ukraine's defense and is considering imposing a cap on the price of Russian oil.
The crude oil and other major commodities fell again as fears of a global economic slowdown increased. Federal Reserve (Fed) Chair Jerome Powell warned of a possible recession in the US.
In the WTI 1h chart, %K and %D form a death cross, and the fast and slow EMAs of the MACD both indicate a bearish market. It is the time to enter the market.
US consumer spending deteriorated significantly in June, sparking market fears of a recession. For now, no matter whether or not there will be a recession, the market has started to become uneasy. The market is torn among the expectations of inflation, interest rate hike, and recession, and the tren
The PCE data will be mixed with strong market sentiment. If the PCE shows that US inflation growth has risen or remains high, it will increase the market's expectations for the Fed to raise interest rates. It means that the data itself may be bearish for the USD, but the USD will appreciate instead
Since last Friday, the market has expected "the Fed won't have to be so aggressive in raising interest rates". This expectation may be negative for the dollar in the early stage because it means that the Fed won't have to be so aggressive in raising interest rates, which is contrary to the current m
The market reassesses the prospect of an aggressive Fed rate hike, which limits the USD's gains.
Driven once again by soaring food and energy prices, the preliminary annual CPI in the Eurozone registered 8.6% in June, higher than the 8.1% recorded in May. The data reflects growing pressures on households and businesses in the 19 eurozone member states and reinforces calls for a significant inte
It is expected that the HICP will be bearish for the EUR. In addition, Lagarde said at the European Central Bank's (ECB) annual monetary policy forum on Wednesday that the era of low inflation before the pandemic is gone, and the ECB has been underestimating price increases. If this HICP confirms th
Officials of the major central banks indicated at the European Central Bank (ECB) meeting in Portugal that higher interest rates were necessary to curb soaring inflation. The EURUSD fell sharply as major central banks warned that the loose money era was coming to an end.
The U.S. PCE data will be released within the day, which could change the market's expectations for the Federal Reserve's interest rate hike in the short term, thus enabling the dollar to open a new round of trend. As the current trend of EUR / USD is based on the dollar, the trend of the Euro will
Continuous USDJPY bearish divergence happens at highs in multiple timeframes. At present, a potential double tops pattern may appear near 137.0, making it bearish for the pair in the short term.
The Bank of Japan (BoJ) has shown no sign of a shift in policy. Without direct foreign exchange intervention, the JPY will struggle to change its weakness.
The USDJPY appears to have found solid support after a slight pullback from a multi-year high of 136.70 to the 134.26 level. It then accelerated its rally, and it is confirmed that the bulls have re-dominated the market.
USDJPY is stagnating at highs after the second upward surge to 135, and the indicator RSI shows ineffectiveness at the highs. The pair may face a new directional choice this week.
Following Tuesday's fall of 0.64%, the GBPUSD continued to drop by 0.50% in the European session on Wednesday. The consecutive sessions of declines initiated the initial signals after a number of directionless sessions. Over the past week, GBPUSD has traded sideways in the 1.2150 - 1.2356 range and
Inflation and recession have increased policy pressure on the Bank of England (BoE). GBPUSD remains under pressure below 1.2400 in the short term.
The GBPUSD extended its descending trend and fell below the 1.2200 level on Friday, erasing much of the rally sparked by the Bank of England's (BoE) interest rate resolution. After two days of sharp losses, the US dollar (USD) continued to strengthen before the weekend, forcing the pair into a disad
The Bank of England raised interest rates by 25 basis points to 1.25%, a new high since January 2009, which is in line with market expectations. The interest rates had been raised five times in a row since December last year.
Market fears of recession have intensified, and risk aversion has supported the dollar rally. Meanwhile, the price of commodities including crude oil has generally lowered, making the commodity currency AUD weaker.
The AUDUSD has completely reversed its mid-June bullish trend and continues to trade in the broad descending trend slightly higher than the support level at 0.6850.
Australian retail sales in May rose by 0.9% month-on-month, higher than market expectations of a 0.4% increase. This is the fifth consecutive month of growth. Next Tuesday, the Reserve Bank of Australia (RBA) will meet again, and it is widely expected to raise interest rates. The main question now i
Australia will release its retail sales data for May on Wednesday. Retail sales are the main indicator of consumer expenditure. Following a 0.9% increase in April, the market has prepared for the weak data with expectations of 0.3%.
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Gold - Fundamental Drivers
Crude Oil - Fundamental Drivers
OPEC production data from the U.S. Energy Information Administration (EIA) only includes crude oil production data.