Articles
EUR/USD Price Analysis: Another drop to the 2022 low remains on the cards
260362 September 30, 2022 21:17 FXStreet Market News
- EUR/USD meets some selling pressure following tops near 0.9850.
- Extra weakness could open the door to the 2022 low at 0.9535.
EUR/USD partially fades the strong weekly bounce to multi-day highs near 0.9850 on Friday.
Odds for extra weakness in the European currency remain well in store so far with the immediate target at the 2022 low at 0.9535 (September 28). A deeper drop could challenge the round level at 0.9500 ahead of the weekly low at 0.9411 (June 17 2002).
In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0653.
EUR/USD daily chart
Fed’s Brainard: Fed is committed to avoiding pulling back prematurely
260361 September 30, 2022 21:17 FXStreet Market News
Federal Reserve Vice Chair Lael Brainard reiterated on Friday that the monetary policy will need to be restrictive for some time to have confidence inflation is moving back to 2%, as reported by Reuters.
Additional takeaways
“Fed is committed to avoiding pulling back prematurely.”
“Fed recognizes risks may become more two-sided at some point.”
“Proceeding deliberately and in data-dependent manner will let Fed learn how economy and inflation are adjusting to tightening and update its assessment of policy rate needed.”
“Uncertainty is currently high, there are range of estimates on peak fed funds rate.”
“Policymakers taking risk-management posture to guard against risks of longer-term inflation expectations moving above target.”
“Entire real yield curve will soon move into positive territory.”
“Will take time for tighter financial conditions to fully impact different sectors and bring inflation down.”
“As monetary policy tightens globally, important to consider how cross-border spillovers might impact financial vulnerabilities.”
“Risk of additional inflationary shocks cannot be ruled out.”
“There is risk that supply disruptions could be prolonged by Ukraine war, China’s covid lockdowns or weather disruptions.”
“Spillovers of monetary policy surprises between tightly linked advanced economies could be half the size of own-country effect on local currency bond yields.”
Market reaction
The US Dollar Index clings to strong daily gains above 112.50 following these comments.
Full Article
Chile Industrial Production (YoY) increased to -5% in August from previous -5.1%
260360 September 30, 2022 20:56 FXStreet Market News
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South Africa Trade Balance (in Rands) registered at 7.18B, below expectations (23.7B) in August
260359 September 30, 2022 20:51 FXStreet Market News
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If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Brazil Unemployment Rate meets forecasts (8.9%) in August
260358 September 30, 2022 20:51 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Personal Consumption Expenditures – Price Index (MoM) in line with forecasts (0.3%) in August
260356 September 30, 2022 20:49 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Gold Price Forecast: XAU/USD to suffer more if NFP strengthens the dollar next week – Commerzbank
260355 September 30, 2022 20:49 FXStreet Market News
Gold price has climbed to $1,670 this morning. A breather could be followed by another correction if the USD appreciation continues after the US labour market report is published, economists at Commerzbank report.
Considerable selling of gold ETFs
“If the Purchasing Managers’ Index remains fairly stable as expected, markets will probably take a breather until the new US labour market data are published on Friday. If the figures cause the US dollar to appreciate further, metals prices are likely to continue falling.”
“ETF investors are continuing to withdraw from gold ETFs, which is exerting additional pressure on the gold price. The majority of speculative financial investors are now betting on a further price slide again.
“In July, when speculators were last positioned net short, a price recovery began shortly afterward. That said, for this to happen the USD would probably have to stop appreciating for the time being, as was the case a good two months ago.”
Full Article
United States Personal Income (MoM) meets forecasts (0.3%) in August
260354 September 30, 2022 20:45 FXStreet Market News
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If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
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United States Personal Consumption Expenditures – Price Index (YoY) below expectations (6.6%) in August: Actual (6.2%)
260353 September 30, 2022 20:45 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Core Personal Consumption Expenditures – Price Index (YoY) registered at 4.9% above expectations (4.7%) in August
260352 September 30, 2022 20:40 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Personal Spending registered at 0.4% above expectations (0.2%) in August
260351 September 30, 2022 20:40 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.