Market News 23/9
☀️ Morning, fellow traders! How are you today? I hope you’re ready to search for trading opportunities! Here’s what drew attention:
🇯🇵 USDJPY plunged by 3.8% in a single day after BOJ members said the FX interventions in the changing rate had started. However, without a rate hike, the effect will likely be limited.
🇺🇸 US Treasury Secretary Yellen: Inflation is causing a great sense of economic insecurity. Her words mean the Treasury and Fed won’t stop tightening until inflation is gone.
🇪🇺Analysts expect the energy crisis in Europe to last way more than winter because supply disruptions are likely to stay for long.
🏦Some Fed members expect the interest rate to reach 4.5-5% in this hiking cycle. In this case, the stock market may slide another 20% lower.
👨🏭 Snapchat will fire 20% of its employees because of the recession. Google also wants to “become 20% more effective” without explaining how the “effectiveness” will be achieved.
🥇 Gold still consolidates in a channel. It’s a sell in case of a $1655 breakout and retest. Otherwise, you can try to trade the consolidation. Good luck!
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