Main market news on September 23
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Traders await the releases for the USD
The USA will publish the level of retail sales and core retail sales on September 13, at 15:30 MT time. The indicator of retail sales represents the change in the total value of sales at the retail level. Its core level excludes automobile sales due to their high volatility. Last time the indicators outperformed the forecasts. The headline indicator increased by 0.7% (vs. the forecast of +0.3%). As for the core level, it advanced by 1% (vs. 0.4% expected). These great figures boosted the USD. Will the situation repeat itself this time?
• If the releases are higher than the forecasts, the USD will rise;
• If the releases are lower than the forecasts, the USD will fall.
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Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
Main market movements on September 22
The market sentiment remains risk-off amid rising virus cases around the world and fears over new restrictions and lockdowns.
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The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
The US weekly labor data is out!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
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