
US stock markets started falling, while the US dollar is rising. What to expect from
Welcome to Friday! Let’s review the main events happening in the market at the end of the week.
17:00 GMT+2 - Existing Home Sales
Alibaba posted a mixed earnings report yesterday. While the adjusted earnings of the e-commerce firm came out at $1.82 per US share vs. analysts’ expectations of $1.7 per share, the results revealed another quarter of weak revenue performance, with $29.12 billion posted vs. $29.6 billion expected.
Despite the mixed data, Alibaba's stock reacted positively to this news, rising by more than 11% within a day. It helped Alibaba's stock to break the upper border of the descending trading channel and rise higher toward the next resistance at $88.00 (100-day SMA). If this level is broken, the buyers' next target will be $95.00 (200-day SMA). The support level lies at $71.30. Keep in mind that positive developments in China's economy (reduction of Covid restrictions, support of real estate developers) have resulted in the upside momentum of Chinese stocks.
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US stock markets started falling, while the US dollar is rising. What to expect from
Key market players expect China to start decreasing the rate and giving liquidity to the markets. China is actively pushing to switch to the stimulative monetary policy. What's going on right now? Read it in our new review.
The week was overfilled with events, especially from the BRICS summit and Jackson Hole meeting. Altogether, the market gained some fantastic opportunities. Here’s what we have for today’s session:
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!