Market News 29/9
☀️ Morning, traders! How are you feeling today? The world is filling us with the news you need to know, so here they are:
🇨🇦 Canadian GDP will be released today at 15:30 GMT 3. The market expects the economy to shrink by 0.1% MoM. Volatility may come in CADJPY and USDCAD.
🏦 Fed member Evans expects the interest rate to the top in March 2023, with a decline starting after.
🇨🇳 Chinese Yuan is at its lowest since 2008 against the USD (CNHUSD). Verbal interventions from the Bank of China are not working so well.
🇬🇧 The Bank of England is urgently buying bonds to stabilize debt markets and stop the GBP from crashing. The bank stated it’d buy as many bonds as needed, a measure that can boost fast-growing prices even more.
⛽️ The North Stream pipeline is so severely damaged it may need years to repair, especially if salty water gets inside and cause corrosion. Moreover, the fourth leak was found recently, making the problem worse.
🥇 Gold made a retest of the last low and may slide to $1620 again.
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