
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
After the RBA statement, the Australian dollar reversed from the resistance at 0.6990 and slumped. It will meet the next support at 0.6935. If it breaks it down, it may fall deeper to the 50-day moving average at 0.6910. Resistance levels are at 0.6990 and 0.7015.
Let’s move on to gold. It caught the overall risk-off mood and gained on it. XAU/USD has just crossed the strong resistance at $1 780. It basically means it may reach soon $1 800 – the level that analysts widely expect. Support levels will be at $1 770 and $1 760.
EUR/USD has just bounced back from the strong resistance at 1.330, that it has touched already once. Thus, it has formed a double top pattern, which is an extremely bearish signal. It will meet soon the support at 1.1300. If it manages to cross it, it will open doors towards the next support at the low of July 2 at 1.1265.
Finally, let’s have a look what’s happening with the S&P 500. It has been trading in a range between 3 000 and 3 225 for over a month. However, this range is narrowing, and we could easily draw a triangle. The stock index may fall to the support at 3 110 today. If it breaks it down, it may fall even deeper to the 200-day moving average at 3 025 and continue its zig-zag movement.
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.
The Fed is going to take a decision about the interest rate. This is the crucial news for the following week. What's going on in the markets and what to expect?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
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.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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