US debates deteriorated sentiment

US debates deteriorated sentiment

Yesterday Donald Trump and Joe Biden had intense debates. The market reaction was initially positive, which drove stocks higher. However, after that Trump claimed he would refuse to accept election results in case of Biden’s victory.  As a result, the overall sentiment deteriorated and pushed stocks to the downside.

S&P 500 has bounced off the key resistance of 3 350. If it manages to cross the low of September 24 at 3 200, it may dip to the 200-day moving average at 3 100. Resistance levels are 3 350 and 3 400.

S&P500Daily.png

Elsewhere, US CB Consumer Confidence came out 101.80, exceeding market expectations of 90.0. That added some tailwinds to the greenback. EUR/USD has just failed to cross the significant resistance of 1.1750. If it retests it again, the way towards Tuesday’s high of 1.1770 will be open. In the opposite scenario, the move below the low of 1.1700 will drive the price to yesterday’s low of 1.1675.

EURUSDH4.png

Chinese Manufacturing PMI was released early in the morning and was almost as planned: 51.5 vs. expected 51.3. That indicated the steady recovery in the world’s second largest economy. It wasn’t enough to drive the Chinese yuan as well as the Australian dollar upwards amid the strong US dollar. If AUD/USD jumps above the 50-day moving average at 0.7200, the way to high levels of early August at 0.7245 will be open. Support levels are 0.7000 and 0.6920.

AUDUSDDaily.png

As for the UK, Brexit talks continue. In addition, the UK GDP came out better than analysts anticipated: -19.8 vs. the forecast of -20.4. However, the British pound is loosening against the dollar. GBP/USD is unlikely to fall below the strong support at the 200-day moving average at 1.2720. The move above the 50-day moving average at 1.3000 will drive the pair to 1.3250.

GBPUSDDaily.png

Finally, let’s discuss gold. It has started recovering after the dramatic slump, but then failed to break through the key resistance of $1 900. The move below yesterday’s low of $1 880 will push the pair lower to the next support of $1 850. On the flip side, if it manages to jump above $1 900, the doors towards the 100-day moving average at $1 920 will be open.

XAUUSDH4.png

The economic calendar is full of releases today. ADP will be out at 15:15 MT time and will give some hints ahead of Friday’s NFP. Later on, Canadian and US GDP will come out. Stay tuned!

Check the economic calendar

TRADE NOW

Similar

Inflation Risks Return To The Markets
Inflation Risks Return To The Markets

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!

ECB Key Rate is in Focus
ECB Key Rate is in Focus

ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.

Latest news

Fed’s Rate Pause and UK Inflation Slows
Fed’s Rate Pause and UK Inflation Slows

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%.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

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!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera