Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD is the Strongest and the AUD is the Weakest Today
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
XAU/USD: Gold struggles to move above 23.6% level. The current risk off mood does not help gold to move higher.
US Market View
The number of Americans applying for initial unemployment benefits unexpectedly increased to 898,000 last week, its highest since late August, compounding fears that the recovery in the labor market is stalling. China saw annual factory gate prices fall at a faster-than-predicted pace, while consumer prices rose at their slowest pace in 19 months, highlighting the challenges facing the nation in its economic recovery from COVID-19.
US Key Point
- ADP Canada Sept employment comes at -240.8K vs -205K prior
- Mnuchin supports that Trump determined to get a stimulus deal
- Initial jobless claims come at 898K vs. 825K than estimate
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.