Youtrading UK
Português Español русский
Register Login
  • Markets
  • Charts
  • Economic Calendar
  • World
  • Economy
  • Insights
  • About Us
No Result
View All Result
Youtrading UK
  • Markets
  • Charts
  • Economic Calendar
  • World
  • Economy
  • Insights
  • About Us
No Result
View All Result
Youtrading UK
No Result
View All Result

Midday Brief – The dollar wobbles ahead of Fed Chair Powell’s Speech

by Nathan Batchelor
28 September 2022
in Markets
0
Midday Brief – The dollar wobbles ahead of Fed Chair Powell’s Speech
404
SHARES
15.4k
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

The markets remained cautious as risk aversion heightens amid rising geopolitical tensions and growing fears over a global economic slowdown. The Dollar outperformed foreign currencies as US CB consumer confidence and new home sales delivered more-than-expected on Tuesday. In the New York session, the US economic calendar will feature a line-up of Fed members’ speeches, Goods Trade Balance, retail inventories and Pending Home Sales.

USDCAD rallied by +0.40% early Wednesday morning ahead of Fed Chair Powell’s speech. The CB consumer confidence rose to 108.0 from a surveyed 104.5 reinforcing a bullish USD sentiment. The August New Home sales were at 685K against 500K estimated. The Canadian dollar lagged as API weekly crude stock indicated slowing demand. The pair made a fresh 16-month high at the 1.3930 level before giving up gains to the 1.3770 level. A near-term correction could be realized towards 1.3700 psychological support.

EURJPY tanked by -0.41% as Gfk German Consumer Climate dropped. The Consumer Climate data dropped to -42.5 from an estimated -39.0 on Wednesday. The Japanese Yen strengthened on safe-haven bids despite a futile intervention by the BoJ. ECB President Lagarde and ECB Elderson will address inflation concerns in Europe and markets remain cautious to see if they will lift the Euro. The EURJPY bears slid below the 139.00 level and the next critical levels to watch out for are 137.50 and 136.00 psychological levels.

GBPAUD plunged by -0.86% on strong Australian Retail Sales Data. Australia’s August retail sales data beat estimates at 0.6% against 0.4% surveyed. The pair trimmed earlier gains as the Pound failed to recover under the risk-off sentiment. Bulls retracted from the 1.6900 psychological level to 1.6500 support. A break below that level could reinforce selling pressure towards 1.60000, a 9-year low.

European stocks slumped early in the European session as geopolitical tensions over energy supplies continue. DAX dropped by -0.33% breaking below the 12200 near-term support, making a new low at the 11870 level as recession worries loom. CAC40 lost -0.35% making a fresh 18-months low at 5650 and near-term resistance is at the 5750 level. A break above that high could invalidate the bearish outlook. FTSE100 edged lower by -0.84% towards a 6750 low, an 18-months low and bulls are capped by a 6975-resistance level.

US stock futures extended losses as the dollar finds foot ahead of Fed Chair Powell’s address. S&P500 futures edged lower by -0.49% as bears dominate the trend below the 3650 near-term support and the next critical targets are 3600 and 3500 psychological levels. Nasdaq100 futures dropped by -1.02% to 11080 as 11500 resistance continue to hold. Downside targets are at the 10800 level. DJIA index sank by -0.33% and critical levels to watch are the 29800 resistance and 27800 support levels.

Gold remains vulnerable amid surging bond yields. The yellow metal plunged by -0.33% and bears could target the 1600 psychological level if the 1620 level fails to hold. A break above the 1650 level could trigger a market correction towards the 1680 level in the near term.

Bitcoin remains under pressure as bulls fail to hold gains above the 20000 psychological level. Bears may target a 16000 psychological level if the 17750 level is breached.

Tags: EURJPYFedGBPAUDGeopolitical tensionsGOLDStocksUS DollarUSDCAD
Previous Post

Silver Technical Analysis – $16.00 price target not reached

Next Post

Market Wrap – BoE announce bond program

Next Post
Midday Brief – BoE policy meeting in focus

Market Wrap - BoE announce bond program

CALL US

Categories
  • Commodities
  • Economy
  • Forex
  • Index
  • Insights
  • Markets
  • Opening of the Week
  • Sem categoria
  • Stocks
  • World

Site Map

  • Home
  • Markets
  • Charts
  • Economic Calendar
  • World
  • Economy
  • Insights
  • About Us
Português Español русский

A comprehensive website for traders, both experienced and new! Checkout our content and learn how to invest and speculate in the markets using margin traded products. Our team of educators has extensive experience and is here to help. Enjoy!

Follow us on social media

Risk Warning

All financial products traded on margin carry a high degree of risk to your capital. They are not suited to all investors, please ensure that you fully understand the risks involved, and seek independent advice if necessary.

All Rights Reserved - YouTrading UK 2020

Privacy Policy and Terms and Conditions
  • Home
  • My Academy
    • Register Now
    • Login
  • Markets
    • Opening of the Week
    • Stocks
    • Commodities
    • Forex
    • Index
  • Charts
  • Economic Calendar
  • Economy
  • World
  • Insights
  • About Us
No Result
View All Result

© 2020 YouTrading UK - Leaders in Trader Training.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
__cfduid1 monthThe cookie is used by cdn services like CloudFare to identify individual clients behind a shared IP address and apply security settings on a per-client basis. It does not correspond to any user ID in the web application and does not store any personally identifiable information.
_wpfuuid11 yearsThis cookie is used by the WPForms WordPress plugin. The cookie is used to allows the paid version of the plugin to connect entries by the same user and is used for some additional features like the Form Abandonment addon.
cf_use_obThis cookie is set by the provider Cloudflare content delivery network. This cookie is used for determining whether it should continue serving "Always Online" until the cookie expires.
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-advertisement1 yearThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Advertisement".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
CookieDurationDescription
YSCsessionThis cookies is set by Youtube and is used to track the views of embedded videos.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
CookieDurationDescription
_ga2 yearsThis cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors.
_gid1 dayThis cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
CookieDurationDescription
_fbp3 monthsThis cookie is set by Facebook to deliver advertisement when they are on Facebook or a digital platform powered by Facebook advertising after visiting this website.
fr3 monthsThe cookie is set by Facebook to show relevant advertisments to the users and measure and improve the advertisements. The cookie also tracks the behavior of the user across the web on sites that have Facebook pixel or Facebook social plugin.
IDE1 year 24 daysUsed by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile.
test_cookie15 minutesThis cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE5 months 27 daysThis cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
CookieDurationDescription
_gat_UA-42160853-21 minuteNo description
cf_ob_infoNo description
CONSENT16 years 8 months 3 days 6 hours 2 minutesNo description
SAVE & ACCEPT
Powered by CookieYes Logo