How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
Market updates on September 30
- During the Asian trading session, ANZ business confidence for New Zealand fell to the lowest levels since 2008. As a result, NZD/USD tested the lows below the 0.6254 level. If the 0.6254 level is broken, the next support will lie at 0.6235. Bulls will be looking for a short-term recovery towards the 0.6276 level. RSI will be especially helpful in this situation, as its line is moving close to the oversold zone. In case of a breakout of the 0.6276 resistance level, the next key level will be placed at 0.6297, close to the 50-period SMA.
- The cable has been trading above the 200-period SMA on H4, as the GBP traders anticipate the Brexit updates. In case of the news about the extension of the Brexit deadline, bulls may break the 1.2329 level and push GBP/USD higher towards the 1.2363 level. If the pair weakens, we may see the slide below the 1.2281 level. The next support will be placed at 1.2233.
- Gold has retested the lows of September 13 at $1,485. If it continues to weaken, it may provoke a further fall towards the $1,479.4 level. From the upside, pay attention to the resistance lines at $1,494 and $1,500. RSI has entered the oversold zone. If it leaves this zone, it may provide a buying opportunity.
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.