Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
Market updates on October 1
Key events ahead:
Canadian GDP – 15:30 MT (12:30 GMT) time
Speech by the FOMC member Clarida – 15:30 MT (12:30 GMT) time
Speech by the FOMC member Bullard – 16:15 MT (13:15 GMT) time
US ISM Manufacturing PMI – 17:00 MT (14:00 GMT) time
- Earlier today the Reserve bank of Australia cut its interest rate by 25 basis points to a record low 0.75%. Also, the RBA statement hinted on further easing amid the worsening economic outlook. The meeting weakened the AUD and pulled AUD/USD towards the support at 0.6689. If the Australian dollar strengthens, it will rise towards the resistance at 0.6735. The next key level will lie at 0.6748. RSI is moving within the oversold zone.
- GBP/USD is consolidating as the market is awaiting a new Brexit plan by the British Prime Minister Boris Johnson today. The pair has been trading close to the 200-period SMA on H4. If the new plans provide a solution to the backstop, the British pound will break the resistance at 1.2306. The next key level will be placed at 1.2329. In case of an alternative scenario, we will see a slide below the 1.2281 level. In this case, bears will target the next support at 1.2233.
- Will the euro slide below the 1.0890 level? The answer depends on today’s events for the USD. If they support the USD, EUR/USD will fall below the support at 1.0890. In this case, the next support will lie at 1.0858. If the USD is weak, the pair will rise to the 1.0912 level. The next resistance will be placed at 1.0947.
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
PMI reports from the EU, the UK, and the USA will be released during the day!
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!