The market sentiment is risk-off. Stocks are falling, while the safe-haven US dollar is edging higher. Meanwhile, oil advanced after the OPEC meeting.
Information is not investment advice
Stocks dropped at the start of the week as investors are worried over rising costs, supply-chain issues, and inflationary pressures as they can slow down the economic growth.
This week is going to be interesting for traders as some high-impact events will happen!
The oil keeps rallying as concerns of a global energy crunch strengthened. Brent has almost reached $80 a barrel – the level which has been unseen since 2018.
Commodities (iron ore, oil) and commodity-linked currencies (AUD, CAD) surged. West Texas Intermediate has reached $75 a barrel, while Brent rose to the highest mark since October 2018.
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).
That day has come, guys! The Fed will hold a meeting at 21:00 GMT+3. It can be a highly impactful event. The markets expect the bank to hint about the timing of tapering.
A selloff in stocks stopped. S&P 500 has reversed up from the 100-day moving average. It should be the perfect time to buy the index.
The FOMC, a committee within the Federal Reserve, will hold an important meeting and press conference on September 22 at 21:00 MT time (GMT+3).