Today the focus is on Crypto payments, oil’s slip, & Japans increased exports.
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
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
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
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.
Prices continue to test the support zone while facing pressure from a downward sloping resistance line.
The chart has shown Three Black Crows fitting under the downward resistance line as prices approach the support level.