Today, the focus is on news around Nintendo, Tesla’s target price hike, and reasons for the strengthening of oil prices.
The Bank of England will decide on the interest rate. It is expected that the indicator will not be changed and will remain at the same level of 0.10%. The event may cause an increase in the volatility of the GBP currency pairs.
Assets for trading: GBP/USD, FTSE 100
A report on the number of initial applications for unemployment benefits in the United States will be published. Forecasted value: 850 thousand. If the totals turn out to be higher, USD may decline.
Assets for trading: EUR/USD, USD/CAD
Oil prices rose on the back of falling commodity inventories and Sally’s storm in the Gulf of Mexico. Affects Brent
Credit Suisse raised its target price for Tesla shares by 33% to $400. Affects Tesla
Nintendo has reported a sharp increase in the number of users subscribing to Switch Online. Affects Nintendo
Donald Trump says Oracle is very close to a TikTok deal. Affects Oracle
Microsoft increases Stock Dividend Yield. Affects Microsoft
The American Petroleum Institute reported a sharp decline in crude stocks by 9.5 million barrels. In addition, the storm Sally in the Gulf of Mexico caused the growth of quotations for black gold. But the decisive event will be a meeting of OPEC countries, who can agree on an additional reduction in production volumes.
The Brent price chart allows for a recovery in quotes, as the asset reversed from support level at 40.
The chart has formed a Head and Shoulders reversal pattern. The appearance of such a pattern can give a bullish signal to traders.
A falling maximum and consolidation of quotes below the resistance level of 117.500 indicate the predominance of bears.
CHF/JPY on this day in history
- Since 2000, Sept 17th has been a trading day 13 times.
- On 92% of those days, the asset finished trading with growth.
- The maximum strengthening range was 1.49%.
- The downward trend was limited to 0.07%.