That day has come, guys! The Fed will hold a meeting at 21:00 GMT+3. It can be a highly impactful event. The markets expect the bank to hint about the timing of tapering.
Japan’s Nikkei 225 hit 30,000
- Japan’s Nikkei 225 hit 30,000 for the first time since April. Investors believe that the ruling Liberal Democratic party can easily win the current election after the current Prime Minister quit and implement the extra stimulus package.
- Hong Kong’s HK 50 climbed, driven by a continuing upturn in tech stocks and encouraging trade data.
- Global shares are near record highs as concerns that the delta strain may slow down the economic reopening waned.
- The Australian dollar has become volatile after the country’s central bank claimed it will stick to its plan to taper bond purchases. The Australian central bank, however, decided to extend the purchase period from November 2021 to February 2022.
- Oil retreated amid Saudi Arabia’s price cut for Asian b+uyers and demand threats from the outbreak of the delta variant.
- Bitcoin topped $52,000. El Salvador bought 400 coins, which are worth nearly $21 million at current trading levels, ahead of adopting the cryptocurrency as legal tender on Tuesday.
EUR/USD has reversed down from the 38.2% Fibonacci retracement level of 1.1900. Longtails of the last candles signal that the pair is likely to fall further. If it manages to break below the recent low of 1.1865, it may drop to 1.1850. Resistance levels are 1.1900 and the late June highs of 1.1950.
It’s an interesting situation in the gold chart. XAU/USD has failed to cross the 61.8% Fibonacci level of $1830, but there is no room to fall as there are many obstacles: the 100- and 200-day moving averages at $1815 and $1810. Besides, the lower trend line should constrain the metal from further falling.
Bitcoin has reversed down from $52,500. It is edging lower to the psychological mark of $50,000, which can stop the crypto from further falling.
A selloff in stocks stopped. S&P 500 has reversed up from the 100-day moving average. It should be the perfect time to buy the index.
The FOMC, a committee within the Federal Reserve, will hold an important meeting and press conference on September 22 at 21:00 MT time (GMT+3).
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).