Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
NFP, Oil, and US Stocks Highlight This Week
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
The time zone is GMT+3.
USD 17:00 ISM Manufacturing PMIUSD 18:00 Fed Chairman Powell Speaks
AUD 06:30 RBA Rate Statement and Interest Rate Decision
CHF 09:30 Swiss CPI
USD 17:00 JOLTS Job Openings
NZD 04:00 RBNZ Rate Statement
USD 15:15 ADP Non-Farm Employment Change
USD 17:00 ISM Services PMI
USD 15:30 Unemployment Claims
USD 15:30 Nonfarm Payrolls
CAD 15:30 Unemployment Rate and Employment Change
News to keep you updated
- There is news for Apple lovers: the company promised to release an update to prevent overheating of its iPhone 15 devices, and there are reports that Apple is prepared to launch its search engine.
- The Bank of Japan introduced plans for additional bond buying amid surging yields at the highest level in a decade. Japanese sovereign yields have risen as speculation grows the central bank will end its negative interest rate sooner rather than later.
- S&P500 (US500) closed September with a 5% decline, marking the second negative month for the American stock market. The US stock market was declining amid the risks of the government shutdown. However, the risk passed after the US Congress finalized the last-minute funding deal on Saturday afternoon.
- A US recession is still knocking on the doors of the markets with the significant auto strike, the resumption of student-loan repayments, and avoided shutdown, which may still affect the GDP growth in the 4th quarter.
- The oil prices strengthened on Monday, fueled by rapidly growing demand that will run ahead of supply. XBRUSD has been going up since the start of the day, rising above $92.
XBRUSD technical analysis
The pair has formed a double top on the daily chart, with the resistance at the peaks at 95.00 and the support at the neckline at 91.00. The breakout of the support might be triggered by the news this week; in case of a breakout, selling from 91.00 with a target of 87.90 is preferable. If the pair reverses to the upside and breaks 95, the next resistance is at 97.80.
Have a successful trading week!
The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!