
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Chinese stocks were pressed by the US plans to kick them off US stock exchanges. US securities want Chinese companies to comply with US auditing standards. Otherwise, if they fail to do so in three years in a row the US has all rights to de-list Chinese companies from US exchanges, according to the law signed by Donald Trump in December. Besides, firms can’t be owned or controlled by foreign governments or Chinese Communist Party officials. Some analysts believe Chinese firms won’t be able to comply with US regulations as they may risk breaking Chinese law as accounting may involve national security data.
This news is negative for Chinese stocks. It triggered a sharp sell-off of the US-listed Chinese companies. Alibaba has already plunged by 4% in pre-market hours. Do you remember, at the beginning of Biden’s presidency, most people thought the new president would be more amicable towards China, US-China relations would improve? However, the reality has turned out to be different. The US and China will continue negotiating, which will cause market volatility.
The second from the last candle is a shooting star, and the last candle is long and bearish. Therefore, we might expect the continuation of the falling. The support is placed at the recent low of $225.00. If Alibaba manages to break it, the way down to the low of December of the last year at $215.00 will be clear. In the least likely scenario, if the price crosses the recent high of $240.00, the doors will be open to the 50-day moving average of $250.00.
Trade stocks in our app FBS Trader!
Don't know how to trade stocks? Here are some simple steps.
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.