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.
Market updates on September 27
Key events ahead:
US core durable goods orders – 15:30 MT (12:30 GMT)
US personal spending – 15:30 MT (12:30 GMT)
Speech by the FOMC member Quarles – 15:30 MT (12:30 GMT)
- At the moment of writing, EUR/USD has been trading near the resistance at 1.0921. If bulls manage to break this level or the anticipated releases for the USD disappoint the market, the next resistance level will be situated at 1.0937. After that, the possibility of reaching the 1.0964 level will increase. From the downside, the fall towards the 1.0890 level seems likely if the USD strengthens. The next key support will lie at 1.0854.
- GBP/USD slid lower on the comment by the BOE member Saunders. He said that if the deal is not reached, the next move by the Bank of England may be a cut. The pair has tested the support zone at 1.2272-1.2281, where the 200-period SMA is moving. If the pair overcomes these levels, the next support will be placed at 1.2233. If the pair reverses, bulls will need to break the 1.2297 level to confirm their strength. The next resistance will lie at 1.2373. RSI is moving within the oversold zone.
- Gold moved lower on the improved market sentiment. The price of the yellow metal has tested the support at $1,496. Further supports in bears' focus will lie at $1,490 and $1,486. In case of risk-off sentiment, the reversal towards the $1,507 level will be possible. The next resistance will be placed at $1,512.
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
Today traders await the US inflation data to be out at 15:30 MT. Jump in to get fresh trade ideas for today!