Was suspending parliament for the sake of Brexit legal?, U.S. homebuilding is up, & Saudi Arabia will be back to full production capacity soon.
French policymakers are growing anxious as their German counterparts dither over how to pull Europe’s biggest economy back from the brink of recession. Affects EUR
Boris Johnson’s decision to suspend parliament is a political issue and not a matter for judges, a lawyer for the prime minister said on Wednesday as he sought to persuade the British Supreme Court that the five-week shutdown was lawful. Affect GBP
Saudi Arabia said on Wednesday a weekend attack on Saudi Aramco had no impact on government revenues and authorities were gearing up to list the state oil giant, signaling the kingdom’s resilience following the crippling strike on its oil industry. Affects Brent
Huawei Technologies expects the roll-out of next-generation 5G wireless networks to start contributing to the firm’s revenue from next year when China launches services, the company’s deputy chairman said on Wednesday. Affects the S&P 500
U.S. homebuilding surged to more than a 12-year high in August as both single- and multi-family housing construction increased, suggesting that lower mortgage rates were finally providing a boost to the struggling housing market. Affects USD
British Retail Sales (MoM) for August will be released. Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending. Affects GBP.
The Bank of England Interest Rate Decision for September will be announced. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation. Affects GBP.
The Philadelphia Fed Manufacturing Index for September will be published. The Philadelphia Federal Reserve Manufacturing Index rates the relative level of general business conditions in Philadelphia. Affects USD.
U.S. Existing Home Sales for August will be provided. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength. Affects USD.
After the bombing of Suadi Arabia’s Aramco facility, the nation has sworn to return to production standards by the end of the month, while currently maintaining supply. Fear launched the price of oil and now it seeks a new channel.
The 4H TF has shown a Bullish Inverted Hammer which could signal a trend reversal.
This pair’s 1H TF has shown a Three White Knights pattern indicating a strong uptrend toward its local resistance level around 0.843.
The metal’s 4H TF has shown a Three Outside Up, combined with central bank panic spells a strong uptrend.