Australia will release employment change and an unemployment rate on Thursday, October 14, at 03:30 MT (GMT+3).
Market updates on September 3
American ISM Manufacturing PMI – 17:00 MT time (14:00 GMT)
The EURUSD pair keeps struggling. On the daily chart, it has already crossed the support at 1.0965 targeting new lows. For intraday trading, we need to consider the H4 chart. The next support is at 1.0934. A break below it will cause a decline to 1.0887. If the actual release of ISM Manufacturing PMI is weaker than the forecast, there is a chance that the fall will be limited. If the pair is able to recover, previous supports will become levels of resistance.
Parliament is due to debate an emergency plan to take control of the legislation to stop a no-deal Brexit on October 31.
On the daily chart of GBPUSD, the pair hit the crucial level of 1.20. Although such indicators as MACD and Awesome Oscillator signal a reversal, the pair has been slowing down. The next support is at 1.1986. If the pair closes below it, we can anticipate a further fall. A rebound will push the pair to 1.2020.
The Australian dollar has been strengthening despite weaker actual reading of retail sales data and lack of hawkish comments by the RBA.
On the daily chart of AUDUSD, the pair rebounded from the support at 0.6689. The pair needs to break above 0.6735 to confirm the recovery. However, Moving Averages continue moving down. It signals a possible continuation of the downtrend. Thus, there are risks of the return to 0.6689.
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).