US Federal Judge stopped TikTok's ban

US Federal Judge stopped TikTok's ban


  • The market sentiment has improved because of the progress in US fiscal stimulus talks and China’s steady industrial recovery. Profits of Chinese industrial companies grew for the fourth month in a row. However, Chinese firms are still under pressure amid simmering US-China tensions.
  • The most debated topic today is Trump’s ban on TikTok. The US Federal Judge temporarily stopped the Chinese app’s prohibition, which was scheduled for today’s midnight. TikTok’s owner, ByteDance, claimed that they would further fight for the company’s rights. By the way, 100 million Americans have already downloaded TikTok.
  • Among other developments, US officials agreed to resume talks over US fiscal stimulus on late Friday. That added some optimism to the market and stocks especially.
  • The British pound gained on the recent progress in Brexit talks. UK officials are quite optimistic about the soon agreement.
  • The Euro is dipping amid rising virus infections in the Euro area and the ECB’s interest in the lower currency. All attention to the speech of ECB’s President Christine Lagarde at 16:45 MT time.
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Technical tips


EUR/USD has reached low levels of late July, but then reversed to the upside. If it jumps above the high of September 25 at 1.1675, the way towards the key psychological mark of 1.1700 will be open. In the opposite scenario, the move below 1.1615 will drive the price to the next round number at 1.1600. The RSI indicator points that the pair isn’t oversold yet, therefore the further falling remains intact. The ECB’s statement will add fresh volatility this evening.


S&P 500

S&P 500 has been edging higher for the third day in a row. The stock index may be constrained by the 50-day moving average at 3 350. However, if it manages to break it, the way towards the high of September 15 at 3 400 will be open. Support levels are 3 250 and 3 200.



XAU/USD has failed to cross the support of $1 860 so far. If it manages to do it, it may fall to $1 840. Otherwise, the move above the key psychological mark of $1 900 will drive the pair upwards to the 50-day moving average at $1 940.



The British pound has started the week on the positive footing. GBP/USD has bounced off the key support on the intersection of 100- and 200-day moving averages at 1.2720. It approaches the significant resistance of 1.2800. If it manages to cross it, the way towards the 50-day moving average at 1.3000 will be clear.


Follow the ECB meeting at 16:45 MT time!



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.

What Will the Fed Decide?
What Will the Fed Decide?

The Fed is going to take a decision about the interest rate. This is the crucial news for the following week. What's going on in the markets and what to expect?

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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%.

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