Daily Review

News, Trends, & Analytics 17.09.2021

Japanese Exports Soar

Today the focus is on Crypto payments, oil’s slip, & Japans increased exports.

 

Calendar

6:00 UTC

The British Retail Sales (MoM) data for August will be released. Forecast: 0.5%. If the data is lower than predicted the GBP could receive negative pressure.

Assets to trade: GBP/USD, EUR/GBP, GBP/CHF


9:00 UTC

The EU CPI (YoY) for August will be released. Forecast: 3.0%. If the result is lower than expected the EUR may see a negative push.

Assets to trade: EUR/USD, EUR/JPY, EUR/AUD

 

News

US retail sales unexpectedly increased in August, likely boosted by back-to-school shopping and child tax credit payments from the government, which could temper expectations for a sharp slowdown in economic growth in the third quarter. Affects USD


AMC Entertainment Holdings Inc boss Adam Aron said the theater chain would accept ether, bitcoin cash, and litecoin alongside bitcoin for ticket purchases, as cryptocurrencies gain acceptance among mainstream investors and companies. Affects Bitcoin


Japan’s exports extended double-digit gains in August, led by strong shipments of chip manufacturing equipment, although the pace of growth weakened as COVID-19 hit key Asian supply chains and slowed factory production. Affects JPY


Oil slipped to about $75 a barrel on Thursday, falling from a multi-week high a day earlier, as the threat to US Gulf production from Hurricane Nicholas receded. Affects Brent


British businesses have reported a sharp rise in recruitment difficulties within the space of just a few weeks – partly as a result of a continued lack of European Union workers, official figures showed on Thursday. Affects GBP

 

Technical Analysis

CHF/JPY

The Japanese yen has been clawing back against several currencies as the economy has rallied spearheaded by the growth in exports.

The pair has shown a Three Black Crows pattern after a Bearish Engulfing signal indicating the strength of this downtrend.

Dow Jones

Prices continue to test the support zone while facing pressure from a downward sloping resistance line.

MasterCard

The chart has shown Three Black Crows fitting under the downward resistance line as prices approach the support level.

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