Today, the focus is on the resumption of the COVID-19 vaccine trials, the negative outlook from BP, and the expectation of hints from the Fed.
The ZEW Economic Sentiment Index in Germany for September will be published. The indicator is forecast to decrease to 69.8 points. If the real data is higher, the EUR will receive support.
Assets for trading: EUR/USD, EUR/CHF
AstraZeneca has resumed trials of the COVID-19 vaccine. Affects Johnson & Johnson
British Petroleum predicts a deterioration in the oil market. Affects Brent
Alibaba plans to invest over $3 billion in Asia’s largest logistics company Grab Holdings Inc. Affect Alibaba
The foreign exchange market is awaiting the results of the Fed meeting. Affects USD
TikTok abandons Microsoft deal. Affects Microsoft
This week, the US Federal Reserve will resume its discussion of the labor market situation, where the unemployment rate rose to 8.4% and is likely to rise to 9.8%. Recall that the target for this indicator is 6.5%. Perhaps, following the meeting, Jerome Powell will give the market at least a hint regarding plans to resolve the situation.
The analysis of the weekly timeframe suggests that there is no certainty among traders on the EUR/USD currency pair, since the Doji candlestick pattern has formed.
The asset showed several signs of a likely decline. Firstly, earlier the asset price marked a false breakout of the upper border of the triangle. Secondly, the general market trend indicates the weakness of the Australian dollar.
The currency pair began to leave the overbought zone of the RSI indicator. The activation of sales is possible.
EUR/GBP on this day in history
- Since 2000, Sept 15th has been a trading day 13 times.
- On 53% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.79%.
- The downward trend was limited to 1.25%.