PMI reports from the EU, the UK, and the USA will be released during the day!
Market updates on September 20
Key events ahead:
Speech by the FOMC member Williams – 15:15 MT (12:15 GMT) time
Canadian core retail sales – 15:30 MT (12:30 GMT) time
Speech by the FOMC member Rosengren – 18:20 MT (15:20 GMT) time
US-China trade talks
- The British pound was supported today after the interview given by the European president Jean Claude Juncker, where he said that the Brexit deal would happen. The cable spiked above the 1.25 level and has tested the resistance at 1.2557. If this level is broken, the next resistance levels will lie at 1.2577 and 1.2598. In case of any uncertainties, bears will be looking for the fall towards the support levels at 1.2506, 1.2476 and 1.2444. On H4, we can see a bearish divergence with MACD, which may signal about a possible short-term reversal
- USD/CAD is awaiting the release of Canada’s core retail sales. On H4, the pair managed to stick above the 200-period SMA. At the moment of writing, USD/CAD has been moving upwards to the resistance at 1.3277. If the release disappoints the market, this level will be broken. The next resistance will be placed at 1.3289. In case of an alternative scenario, the pair will slide back below the 200-period SMA to the support at 1.3253. The next support will be placed at 1.3246 (100-period SMA).
- EUR/USD is consolidating between the 1.1058 resistance level and the 1.1037 support level on H4. If bulls manage to break their way to the upside, the next resistance levels will lie at 1.1068-1.1074. On the other hand, bears will pay attention to the break of the 1.1037 level. After that, the next support will lie at 1.1014.
Today traders await the European Central Bank to make a policy statement at 14:45 MT (GMT+3).
The European Central Bank will make its policy statement on July 22 at 14:45 MT (GMT+3).
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
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.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…