Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
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 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!