Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
The EUR and Bitcoin are in Focus Today
Hi, and welcome to the daily newsletter by FBS. The market is active, and we have plenty to share with you!
Impactful news of the day
- At their policy meeting in July, Federal Reserve officials largely remained concerned that inflation would fail to recede and that further interest-rate increases would be needed. “Most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.”
- Monthly US Industrial Production rose to 1.0% from the 0.3% forecasted increase.
- Bitcoin volatility index reached a 10-year low, a record for a coin that is only 13 years old. Every time volatility rises after a period of consolidation. However, traders are waiting for the SEC decision on the ETF approval before acting.
- The JPY reached the level where the BOJ started currency interventions last time. Keep an eye on the currency, as it may start rising soon.
- Chinese $137 billion shadow banking giant Zhongzhi, whose cash crunch has spread fears, is planning to restructure its debt.
- UBS (Switzerland investment bank) forecasts Brent oil to reach $95 by the year’s end (+15% from the current price).
The euro formed an excellent reversal pattern
EURUSD is moving inside a range. The price collected liquidity below the lower border and returned to the range. We expect the pair to go higher and reach the upper border.
Have a pleasant day!
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!