Gold rose, USD/CAD and USD/JPY dropped
What's moving markets on April 22? Read the report to know!
Main market movements on September 21
Safe-haven currencies such as the US dollar and the Japanese yen have started the week on the positive footing amid rising new virus cases, pushing riskier assets to the downside.
US-China tensions continue escalating. The US President Donald Trump approved Oracle’s bid to buy TikTok’s US assets, while US curbs on WeChat have been put on hold by a judge. Besides, investors are waiting for some development over fiscal stimulus in the USA as the impasse of the stimulus package in combination with upcoming elections weighs heavily on the US dollar. All eyes on Powell’s speech this evening.
Meanwhile, new virus cases are rising in the European Union. Even fresh restrictions have been imposed in Greece and Denmark. The European Central Bank has launched a review of its pandemic bond-buying program. It will decide for how long the PEPP will take place and debate the necessity of extra asset purchases.
Watch our daily trading plan!
Let’s look at the EUR/USD chart. It has just broken the strong resistance of 1.1800. The move below the support of 1.1755 will push the pair even deeper to the level at the next round number of 1.1700. Resistance levels are 1.1800 and 1.1880.
S&P 500 has dropped to the lowest levels since August 5 as a massive sell-off of tech stocks has started. Amazon, Facebook, and Apple slumped dramatically. The move below the low of July 31 at 3 250 will drive the stock index lower to 3 200. On the flip side, if it jumps above the resistance of 3 330, it will push the price to the high of September 18 at 3 370.
Moving on to gold, it has been trading sideways. The move above the high of September 18 at $1 960 will drive the price to the next resistance of $1 970. Otherwise, if it drops below the support of $1 925, it will push the price to the next support of $1 910.
Finally, let’s talk about the British pound. It has been driven upwards by the upbeat comments of the European Commission President over Brexit. However, the fresh lockdown in the country added headwinds to the GBP. The move below the low of September 15 at 1.2830 will drive the price lower to 1.2780. Resistance levels are 1.2960 and 1.3015.
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
