Analytics

News, Trends, & Analytics 29.09.2021

Central Banks Speak

Today the focus is on the press conferences from the US Fed Chair, Bank of England’s Governor, and the ECB’s President.

 

Calendar

15:45 UTC

The Bank of England’s Governor Bailey speaks. Hawkish tones may push GBP to the upside.

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


15:45 UTC

The US Fed Chair Jerome Powell speaks. If he confirms the plan to wrap up the accommodative monetary policy, USD may grow.

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


16:30 UTC

ECB President Christine Lagarde speaks. An upbeat economic outlook for the Eurozone may send EUR upwards.

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

 

News

Eurozone bond yields are reported to have risen to their highest during the last three months. Affects EUR


US Treasury Yields soared, causing JPY’s downslide. Affects JPY


Global investors see less threat to global economic stability from the crisis of China’s Evergrande. Affects gold


Boeing shared its prognosis for global travel to be back to pre-pandemic levels in about two years from now. Affects Boeing

 

Technical Analysis

Gold

Evergrande’s colossal debt has been a threat not only to the Chinese economy but to global economic stability too. This crisis seems to be under the control of the Chinese regulator now, and global investors are out of panic mode. Hence, gold is dropping.

Gold gave up all its September gains. The current downtrend suggests it will continue and possibly touch the support level of $1,720. If this level is crossed, $1,700 will likely follow.

Brent

Fears of the global oil market’s instability are once again driving Brent up. If bulls keep pressing, $80 may be eclipsed soon. Beware of that level retesting, which might occur after.

USD/JPY

As JPY is losing strength, USD/JPY is growing, and the nearest target is the resistance level of 111.7.

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