US Evades Default This Time

US Evades Default This Time

Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!

Events of the week GMT+3. Check your timezone here


  • Bank holiday: Swiss, UK, France, Germany, US. Expect lower liquidity in Forex pairs.


  • 10:00, Swiss GDP
  • 17:00, US CB Consumer Confidence


  • All Day, German Prelim CPI
  • 02:00, RBA Gov Lowe Speaks
  • 04:30, Australian CPI
  • 17:00, US JOLTS Job Openings


  • 15:15, ADP Non-Farm Employment Change
  • 15:30, US Unemployment Claims
  • 17:00, ISM Manufacturing PMI


  • 15:30, US Average Hourly Earnings, NFP, Unemployment Rate

News that moves the market

The US had finally reached the debt agreement. Default won’t happen anytime soon. According to the last information, the US increases the limit by $2-4 trillion and cuts spendings by $50 billion. However, military spendings won’t be decreased and will most likely rise by $80 billion.

Bitcoin rises ahead of debt limit increase, breaking through the resistance of $27 500. The next critical resistance lies at $29 500.

HK50 falls 6% over the last days.

Saudi Arabia is willing to join the China-based “BRICS bank.” This moves the country further from the US, it’s previous “fellow.”

Turkey elections round two resulted in the re-election of Tayyip Erdogan. USDTRY continues to rise, breaking the level of 20.00.

Japan’s NIKKEI 225 (JP225) rises to 33-year high, the highest level since 1990.

Gold is trading under support levels

The metal fell under the critical demand zone of $1950-1965 and was about to continue sliding. The support of $1935 is what we will look for. The breakout will send the metal in a freefall to the level of $1885.

However, a rise above the yellow resistance area would mean a possible recovery of the metal. In this case, expect a surge towards $1995.


Have an amazing day!



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