Gold rose, USD/CAD and USD/JPY dropped
What's moving markets on April 22? Read the report to know!
Main market movements on August 13
The market sentiment switched to risk-on. The US dollar is dipping down, while riskier assets are rising, especially the Australian dollar after the positive employment data. All eyes on US unemployment claims.
Fundamentals
- 114 700 people have found jobs in Australia, while analysts expected only 30 000. In addition, the unemployment rate increased by 7.5%, that was less than the forecast of 7.8%. As a result, the Australian dollar surged. We’ll discuss technical levels below.
- The US consumer price index came out better than expected yesterday. It was 0.6%, while the forecast was 0.3%.
- Democrats and Republicans stay far apart on the next fiscal stimulus package. The longer talks continue, the more it weighs on the US economy.
- Crude oil inventories contracted by 4.5 million barrels, while analysts foresaw the 3.4-million drop.
Watch our daily forex trading plan!
Technical tips
AUD/USD
The Australian dollar surged, but then bounced off the resistance at the high of August 11 at 0.7185. If It manages to cross this level, it will open doors towards the next resistance at the high of August 7 at 0.7215. Support levels are 0.7145 and 0.7115.
EUR/USD
EUR/USD has just broken out the 61.8% Fibonacci level. It may have a short pullback back to this level, but then it should surge higher to the key psychological mark at 1.1900. Support levels are 1.1820 and 1.1800.
S&P 500
S&P 500 is edging higher. It almost reached the all-time high at 3 390, but then slightly contracted. Vaccine hopes and declining infections should support the current risk-on sentiment and drive the stock index higher. Watch out the key resistance at 3 390. The move above will push the price to 3 400. Support levels are at the low of August 11 at 3 315 and at 3 270.
XAU/USD
Finally, let’s look at the gold chart. It has just crossed the resistance at $1 930. Therefore, it should reach the next one at $1 950. Support levels at $1 910 and $1 880.
Follow news:
- The US unemployment claims will be released at 15:30 MT time!
Similar
JPMorgan finances Super League, Apple unveils new devices
Read the daily report to get the full market wrap!
Tesla killed two people, USD is at one-month low, and other news
Read the daily news and get the fresh tech analysis of EUR/USD, USD/JPY, and gold!
Latest news
Stocks that make news this week
Check our story about the stocks that have the potential to go either up or down big time! In this article, we'll tell you about Nvidia, Apple, Philip Morris, and Coinbase.
The pack of PMIs to boost the euro
Once in a month, the euro has a very special day of increased volatility at the start of the European trading session.
USD/TRY: testing all-time highs
The relationship between the US and Turkey is not going well. Neither do things for the Turkish lira.
Deposit with your local payment systems
