Earnings Season is In Focus
Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
Amazing Week for Traders is Ahead
Hello, and welcome to the daily news release! Will the downtrend in gold change this week? What about oil? How long will it skyrocket? We have a lot to share with you.
Economic calendar
The time zone is GMT+3. Check your time zone.
Monday:
- No impactful events
Tuesday:
- 04:30, Australian Monetary Policy Meeting Minutes
- 05:00, China Industrial Production y/y
- 09:00, UK Claimant Count Change
- 15:30, Canada CPI (four readings)
- 15:30, US Retail Sales
Wednesday:
- 05:00, RBNZ Rate Statement and Cash Rate
- 09:00, UK CPI
- 21:00, FOMC Meeting Minutes
Thursday:
- 04:30, Australian Employment Change and Unemployment Rate
- 15:30, US Unemployment Claims
Friday:
- 09:00, UK Retail Sales m/m
Critical news of the week
- USDJPY reached 145.20, the highest since November 2022. Market now expects the BOJ to step in.
- USDCNH is gaining speed, rising 750 points over the last few days.
- The market sentiment regarding tech stocks is changing. Now, investors will probably sell the rally in technology stocks (bearish) and buy corrections in the energy sector (bullish). This change happened because of the rally in energy prices.
- According to analysts’ expectations, the ECB will raise the rate by 25 basis points in September. The same is expected in Swiss.
- Ex-SEC representative expects the SEC to delay Bitcoin ETF from BlackRock, Invesco, and others. SEC will likely decide depending on the US Presidential election of 2024.
- Mark Zuckerberg says Elon Musk is not serious about fighting him, and it’s time to move on. Musk says that the fight should happen today. Meanwhile, Instagram’s Thread app lost 80% of its active user base.
Gold analysis for the week ahead
The metal continues the downtrend that already caused a 3.90% plunge. We prefer to trade with the trend, so there are two primary levels for a short entry. The more aggressive one is $1916, and the other is $1930.
XAUUSD might reach $1903 and $1895 before reversing. The trend will change if the H4 candle closes above $1930.
Have an amazing week!
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