Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
BTC Volatility and Strong Gold
Good Tuesday, everyone! Today is exciting for traders of major pairs and the Canadian dollar because we await the Canadian inflation and the US Retail Sales releases. What is the other news we need to follow today? Let’s have a look.
- The earnings season has started on a positive note. After 32 companies have reported earnings, the companies in the index beat Wall Street’s expectations by an average of 9% per share. Today, we await Goldman Sachs, Bank of America, and Johnson & Johnson before the market opens (around 14:30 GMT+3.)
- Yesterday, Philadelphia Fed President Patrick Harker said the Federal Reserve would stop raising interest rates because small businesses struggle with access to capital.
- US President Joe Biden plans to visit Israel on Wednesday to prevent the conflict from spreading. Meanwhile, the House Foreign Affairs Committee Chair Michael Mccaul is drafting legislation to authorize US military force to participate in the war if it broadens into a wider proxy war with Iran.
- Yesterday, Bitcoin gained by more than 12% but then dipped down. The jump happened because of the fake news about the spot Bitcoin-ETF approval.
- The data leaked from Microsoft provides insight into how much the company pays new hires by level, with ranges for base pay, hiring bonuses, and annual stock awards.
Technical analysis of XAUUSD
The gold price has broken the symmetrical triangle's upper border. The next target for bulls lies at 1930. If this level is broken, the next resistance will be placed at 1937. On the downside, the support zone is located at 1907-1912.
The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!
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!