In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
The Aussie is to Lose the Game
It’s Wednesday, traders! New CPI releases, gas price updates, tech layoffs, and many more. Here’s all you need to know!
The most important news of the day
- Canada’s CPI turned out to be mixed. CPI is 0.5% vs. 0.6%; Median CPI is 0.1% above; Trimmed CPI is as expected, and Common CPI is 0.1% below. NZDCAD fell by 170 points.
- Tesla cut prices in the US for the sixth time this year.
- UK annual inflation is still double-digit. The reading is at 10.1% vs. the 9.8% expected. GBPUSD is up 500 points.
- Netflix shares lost 12% due to low revenue forecast for Q2 2023. They reversed back up very fast, though.
- Natural gas prices in the US (XNGUSD) rose 21% from their bottom and reached $2.50.
- For the first time since 1945, US stocks are trying to ignore the risk of the recession.
- Bitcoin whales started buying again. They bought 20 000 BTC over the last two days.
- Meta prepares new layoffs in Facebook, WhatsApp, and Instagram.
- Tomorrow is International DOGE Day. All the Dogecoin community is waiting for a DOGE pump.
- Gold is falling to the support of $1986. The breakout will open a road to $1978.
AUDNZD is perfect for a Sell
The pair bounced from the supply zone that we market yellow. The highest point is at 1.08730. If the movement continues, traders may aim for the closest support of 1.0800.
Furthermore, the breakout of this level would mean the uptrend is over for now. Thus, the retest of the 200-MA is possible.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
US stock markets started falling, while the US dollar is rising. What to expect from
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.