
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.
The US dollar gained after the Fed’s report, while riskier assets dropped. Let’s have a closer look.
EUR/USD has broken down the lower trendline, which has been strong support since the middle of May. However, the further falling was constrained by the low level of September 9 at 1.1755. The move above the 200-period moving average at 1.1835 will drive the price to the key psychological mark of 1.1900. Support levels are 1.1755 and 1.1700.
USD/JPY is aggressively streaming down. If it manages to cross the low of July 30 at 104.70, it will open doors towards the next support of 104.30. In the opposite scenario, the move above the high of the recent low of 105.10 will push the price higher to the next resistance of 105.50.
The S&P 500 has sharply plummeted amid the risk-off mood. If it drops below the low of September 11 at 3 330, the doors towards the next support of 3 315 will be open. On the flip side, if the market mood changes, the jump above the resistance of 3 370 will drive the price towards the high of September 16 at 3 420.
Finally, let’s discuss gold. It has failed to stabilize above the $1 970 level and slumped to $1 940. The move below this support will clear the way towards the strong support of $1 925, which it hasn’t been able to break a few times. Otherwise, if it surges above the recent high of $1 970, it will jump to the next resistance of $1 990.
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.
US stock markets started falling, while the US dollar is rising. What to expect from
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
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%.
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