When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
Canada Fails to Control Prices
It’s Wednesday, the froggy day for the whole internet. Here’s news that moves the market:
Most impactful events of the day
- Argentina’s Central Bank raises interest rates to 97% in an attempt to control soaring inflation.
- In the US, Texas introduces a bill to ban central bank digital currency (CBDCs) in the state. Also, Florida State Governor officially bans CBDCs.
- Elon Musk says Twitter plans to create a more efficient financial system than traditional banking.
- Tesla said to have “Two new products” to unveil. Also, the company will “try a little advertising and see how it goes.”
- Bill Ackman, one of the most famous investors, accumulated Google stocks throughout the previous quarter. Overall he now has $1.2 billion worth of stock. Keep an eye on the tech industry.
- The Australian Wage Price Index is below expectations (0.8% vs. 0.9%).
- Canada monthly CPI exceeded expectations (0.7% vs. 0.5%). AUDCAD fell 480 points.
The breakout is coming
As you can see on the chart, the price is currently in a local uptrend. To start a mid-term upward movement, USDCHF must overcome the critical resistance of 0.9000.
Therefore, watch closely after the chart. The pair already rose above the 200-period MA, and the breakout of the yellow area will surely send the pair to 0.9100.
Considering current Treasury yield spreads, the chance of a recession is now nearly 99.3% - 100%. Read the full report to learn more!
The Chinese economy is slowing down, while a risk that politicians will not be able to agree regarding the US national debt increases. Read the full statement to learn more!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
The United States has one week before default, and NVIDIA may become the next Tesla. What else drives the market?
Some progress in US debt ceiling talks is made, and the PMI data is out.