It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
Inflation Risks Return To The Markets
Happy Friday, dear traders! The volatility returned to the markets as inflation risks returned! Let's check the news driving the markets today!
- Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices.
- China's economy is showing signs of stabilization due to policy stimulus. Retail sales in China rose 4.6% in August, beating economists' expectations of 3.0%.
- Pavel Durov announced the integration of the TON cryptocurrency into Telegram.
- Tesla has combined several innovations to make a technological breakthrough that could halve costs. Tesla stock gained 1.75% yesterday.
- Bloomberg says that core inflation in the US accelerated for the first time in six months, allowing the Fed to raise rates in November or December.
USDCAD has reached an area of around 1.3490.
- If the price declines below this support block, the downtrend toward 1.3387 may continue.
- However, if buyers break the upper border of the descending channel, the pair may recover to 1.3570.
Have a great trading session!
ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.
The Fed is going to take a decision about the interest rate. This is the crucial news for the following week. What's going on in the markets and what to expect?
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.