The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Antipodeans jump on the Fed Chair comments about the rate cut
Oh, what a rise! Antipodeans jump on the Fed Chair comments about the rate cut.
- The bullish candlesticks on H4 of both NZD/USD and AUD/USD look impressive and give us a fear of missing out. That's not a surprise, as the Fed chair Jerome Powell signaled openness to rate cut due to trade uncertainties and weaker economic outlook. His remarks weakened the USD and pushed other currencies higher against it.
- NZD/USD jumped by 48 pips to the resistance at 0.6652. The next key resistance will lie at 0.6666. From the downside, the support levels are 0.6634, 0.6626 and 0.6619.
- AUD/USD tested the resistance at 0.6960 (100-period SMA). The next resistance will lie at 0.6968. In the case of the fall, the first support will lie at 0.6949 (200-period SMA). After the breakout, expect the further fall to the 0.6930 level.
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.