Risk-off Sentiment on Monday

Risk-off Sentiment on Monday

Latest news

  • Investors concern that the economic recovery may be hampered by the fast-spreading delta virus variant.
  • The latest China retail sales and industrial output reports revealed economic activity in China slowed more than forecasted.
  • A fall in US consumer sentiment to a record low in almost ten years added to the overall risk-off sentiment.
  • Japan’s GDP growth came out greater than analysts expected: 0.3% vs 0.1%. As a result, the JPY surged despite the extended restrictions in Japan.
  • Traders will await the Fed’s meeting minutes (the detailed record of the latest meeting) this week and a speech by Fed Chair Jerome Powell. The markets want to get more clues about when the US central bank start tapering.
  • Crude oil has been falling for the third day in a row as the resurgence of the delta variant can press down the crude oil demand. The Canadian dollar was among the worst performers, as crude oil prices edged lower.
  • Earnings season is almost over. Don’t miss the latest reports. Walmart will reveal its earnings results on August 17, Nvidia – August 18.

Technical outlook

USD/JPY is moving inside the ascending channel. The pair is getting closer to the lower trend line at 109.00, which it will struggle to cross. Thus, we might expect a reverse up from the support zone of 108.80-109.00. On the way up, the pair may meet the resistance levels at the 100- and 50- day moving averages of 109.60 and 110.00.


Let’s look at gold. It has broken through the 23.6% Fibonacci retracement level of $1770 but retraced to it. It should be just a natural sell-off after the breakout. Gold may rally up further to the 100-day moving average of $1805 and the next Fibo level of $1825.


EUR/USD has reversed down from the resistance level of 1.1800. If it drops below the late July lows of 1.1750,  the pair may fall to the low of August 11 at 1.1700. On the flip side, if the pair manages to break 1.1800, the pair may jump to the 50-day moving average of 1.1870.




US Dollar Might Get Under Pressure After These Events
US Dollar Might Get Under Pressure After These Events

Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.

Traders Should Know About These Releases
Traders Should Know About These Releases

The G20 summit and the US PPI release gave us a lot of volatility to trade on. Luckily, today’s markets may be even more volatile with new vital releases and geopolitical decisions. The daily news report will surely help you!

Latest news

Chinese workers are on strike
Chinese workers are on strike

  Good morning, dear traders! Hope you’re doing great! Let’s talk about the news that is worth following today!  Key market events: 15:30 MT, CAD GDP m/m 17:00 MT, GBP BOE Gov Bailey Speaks Oil is tensed again Oil rose as China refined its approach…

How to trade the JPY?
How to trade the JPY?

Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:

FOMC Minutes Brought Insights
FOMC Minutes Brought Insights

Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…

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