Inflation Risks Return To The Markets

Happy Friday, dear traders! The volatility returned to the markets as inflation risks returned! Let's check the news driving the markets today!

Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices.
China's economy is showing signs of stabilization due to policy stimulus. Retail sales in China rose 4.6% in August, beating economists' expectations of 3.0%.
Pavel Durov announced the integration of the TON cryptocurrency into Telegram.
Tesla has combined several innovations to make a technological breakthrough that could halve costs. Tesla stock gained 1.75% yesterday.
Bloomberg says that core inflation in the US accelerated for the first time in six months, allowing the Fed to raise rates in November or December.

USDCAD outlook

USDCAD has reached an area of around 1.3490.

If the price declines below this support block, the downtrend toward 1.3387 may continue.
However, if buyers break the upper border of the descending channel, the pair may recover to 1.3570.

Have a great trading session!

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Author: FBS Analyst Team

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