Australia will release employment change and an unemployment rate on Thursday, October 14, at 03:30 MT (GMT+3).
- The Australian dollar weakened because of the bigger-than-expected unemployment rate figure. On H4, AUD/USD has been targeting the first support at 0.69. A close below this level will provoke a further decline to 0.6870 with a test of 0.6887. RSI and Stochastic Oscillators are in the oversold area, the rise of the pair will be confirmed as soon as RSI crosses the 30 level bottom up and Stochastic oscillator crosses the signal line. In the case of the rebound, the important resistance is located at 0.6933.
- The Swiss franc rose on the Swiss National Bank statement. Although, the central bank kept the interest rate on hold and didn’t provide any hints on a soon increase, comments about the possible weakness of the euro and the USD supported the Swiss currency. As a result, USD/CHF fell. On H4, the pair reached the support at 0.9921 (50-period MA) but rebounded. The first resistance is located at 0.9956, a break above this level will signal a continuation of the upward movement. However, the resistance is strong and we may see a re-test of 0.9921. A break below this level will lift risks of the decline to 0.9888.
- Brent has risen significantly after news about oil tankers being attacked in the Gulf of Oman. Up to now, the oil benchmark has been moving to the first resistance at 63.73 with a test of 63.
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).