In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
Four Banks Fight Against Inflation
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
The time zone is GMT+3. Check your time zone here.
- Holiday for the Bank of Japan
- AUD 04:30, Monetary Policy Meeting Minutes
- CAD 15:30, CPI, Medium, Trimmed, and Common CPI m/m
- GBP 09:00, CPI y/y
- USD 21:00, Federal Funds Rate, FOMC Statement
- USD 21:30, FOMC Press Conference
- NZD 01:45, GDP q/q
- CHF 10:30, SNB Policy Rate
- GBP 14:00, Official Bank Rate and Monetary Policy Summary
- USD 15:30, Unemployment Claims
- JPY (No exact time), BOJ Press Conference and Policy Rate
- EUR 10:30, German Flash Manufacturing and Services PMI
- GBP 11:30, UK Flash Manufacturing and Services PMI
- USD 16:45, US Flash Manufacturing and Services PMI
News to keep you updated
- European gas storage facilities are 94% full, not a record high for this time of year but a decent level in the face of another winter.
- Risk appetite for the treasury market is at historical highs. Moreover, risk-on sentiment is near the highest point for the stock market. It indicates bulls are in control of the US market.
- Chinese stock index HK50 is down 2.3% since Friday. Bloomberg says the reason is another drop in property shares.
- As the US strategic oil reserves are on historical lows and oil price is moving closer to $100, we may expect a short-squeeze in the XTI (WTI) and XBR charts.
- Rumor has it that the current SEC CEO (Garry Gensler) wants to approve several crypto ETFs to get a job in one of these funds after he retires.
Gold analysis for the week ahead:
The metal made an astonishing 2500-point upside move at the end of the last week. The resistance of $1931 seems like a sweet spot for the price.
We would like to see a correction near $1920 and then look for Buy trades with targets at resistances above.
Have a profitable week!
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