The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
USD remains strong despite risk on mood
2021-02-03 • Updated
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAU/USD: Gold still struggling to move higher and remains below 23.6% retracement area.
US Market View
World shares rose on Wednesday as volatility caused by a retail trading frenzy on Wall Street subsided on expectations of tougher regulation, while optimism about U.S. fiscal stimulus also supported sentiment. The prospect of former ECB chief Mario Draghi becoming prime minister in Italy added to the cheer, along with record sales at Google parent Alphabet (NASDAQ:GOOGL) which offset a tepid reception to news that Amazon founder Jeff Bezos will step down as CEO.
Italian bonds and stocks outperformed on expectations former European Central Bank chief Draghi could become the country's next prime minister, ending weeks of political crisis. Italy's 10-year bond yield fell more than 10 basis points to around 0.55%, its lowest in almost two weeks. It was set for its biggest one-day fall since mid-January. Italian stocks rose 2.7%, lifted by banks.
Oil prices continued their upswing, supported by an unexpected draw in U.S. crude stockpiles and a producer estimate of a global oil market deficit this year.
USA Key Point
- Oil climbs to a fresh one-year high as OPEC committee meets.
- ADP US January jobs report comes at +174K vs +50K than expected.
- The NZD is the strongest and the GBP is the weakest.
- Draghi accepts mandate to form Italian government.
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy