The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
Market updates on October 17
Key events ahead
British retail sales - 11:30 MT (8:30 GMT)
EU Economic Summit – all day
Philly Fed Manufacturing Index – 15:30 MT (12:30 GMT)
Speech by the RBA Governor Philip Lowe – 23:00 MT (20:00 GMT)
- Yesterday’s reports that the Brexit deal was not reached ahead of the European summit scheduled for today pulled the British pound lower. GBP/USD slid to the support at 1.2745. If this level is broken, the next support will be placed at 1.2686. The next support levels will lie at 1.2662 and 1.2641. From the upside, the first key resistance will lie at 1.2877. After the breakout, reaching the 1.2920 and 1.2943 levels seem possible.
- AUD/USD has risen on a lower-than-expected unemployment rate and the news that China is discussing the next phase of trade talks. The pair has crossed the 200-period SMA and moved higher to the 0.6804 level. If bulls overcome this level, the next resistance levels will be placed at 0.6810 and 0.6818. In case of a reversal, pay attention to the 0.6780 level. After that, reaching the support level at 0.6773 seems possible.
- NZD/USD has been supported as the risk sentiment in the market gets better. The kiwi has tested the 200-period SMA. If this level is broken, the next resistance will lie at 0.6330. After that, the next resistance will be situated at 0.6345. From the downside, bears will pay attention to 0.6288, 0.6277 and 0.6267.
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!