Stocks are mostly lower today, with the real action in the markets again happening in the USD. The U.S. currency extended losses at the start of the new month to trade at its lowest since May 2018.
Daily Market Analysis
Markets gear up for Tesla and Apple whose stocks will split on Monday, but investors still keep their eye on COVID-19 developments. Here's a technical analysis of AUD/USD, USD/CAD and USD/JPY.
Fed's chair will make the monetary policy statement. Investors will mainly focus on the Fed’s new average inflation targeting regime and economic guidelines.
GBP/USD tested the key resistance level at 1.33191.
GBP/USD comes to challenge the 2-year resistance. Will it cross it?
GBP/USD is now testing the key resistance at 1.32605.
Initial US jobless claims totaled just over 1 million for the week ending Aug. 22 down from 1.104 million in the previous week.
The risk-on mood in the US equity market continues, however there was a mixed picture in Asian equity markets this morning. All eyes on Powell's speech.
The USD/JPY pair is about to exit the Kumo. If that happens, a new bullish sentiment is in force.
NZD/JPY pair is trading Tenkan Sen and Kijun Sen level. An upward wave would lead the pair into higher ground, confirming the bullish scenario.
EUR/USD has tested the hurdle at 1.18431 in today's session
EUR/USD is gyrating the pivot point at 1.18078