Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
Inflation Is Rising In The Eurozone. Key Moment For XAUUSD
Happy Wednesday, dear traders! GBPUSD is skyrocketing due to the higher-than-expected UK CPI release. Let's check more news moving the markets today!
- Asian stocks are trading flat as tensions in the Middle East offset optimism about China's GDP, hitting 4.9% year-to-year versus the 4.4% expected.
- Yesterday, NVIDIA shares fell 7% on news of a ban on chip exports to China.
- JPMorgan and Citibank expect the EURUSD to reach 1.00 in the middle term.
- Analysts say the market's main expectations for earnings growth this US earnings season are again associated with BigTech. The five tech giants are expected to show profit growth of an average of 34%.
- At its next meeting, OPEC+ will discuss a possible increase in oil production in early 2024 if the global oil shortage worsens.
- Eurozone monthly inflations hit 0.3% versus -0.5% a month ago. EURUSD is rising.
XAUUSD technical analysis
As we discussed earlier in our Telegram channel, XAUUSD reached the 1948.00 resistance level. Now, it is the key moment for the price:
- If buyers push XAUUSD above this area, the target would be at 1982.00.
- However, if the price bounces off 1948.00, a slight correction toward 1930.00 and even 1907.00 may happen.
Have a great trading session!
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!