Canada will release the employment change and the unemployment rate on October 9, at 15:30 MT time.
Market updates on June 25
Information is not investment advice
Key events ahead
US CB consumer confidence – 17:00 MT.
According to the forecasts, the indicator will decline to 132 points. Higher figures will be good for the USD.
Speech by Fed Chair Jerome Powell – 20:00 MT.
· EUR/USD has reached the resistance at 1.1411 on H4 and made a small correction towards the 1.1388 level. If the USD is supported today, the 1.1388 level will be broken and the next support levels will lie at 1.1366 and 1.1344. From the upside, the break of 1.1411 will resume the uptrend for the pair and push it to the next key levels at 1.1440 and 1.1465. RSI and Stochastic oscillators just left the overbought zone.
· USD/JPY tested the support at 106.86 on H4. If the Fed Chair Jerome Powell confirms the dovish tone of the Fed today, the next support for the pair will be placed at 106.67. If it is broken, bears will pull the pair lower to the support at 106.43. From the upside, pay attention to the 107.15, 107.42 and 107.79 levels. Here, RSI has been testing the border of the oversold zone, while stochastic indicator is moving within this zone.
· Gold has been strengthening amid the tensions between the US and Iran and the weak USD. At the moment it is testing the resistance at $1,433. The next key level will lie at $1,473. From the downside, the levels are: $1,423, $1,404 and $1,387. RSI is moving within the overbought zone.
The Reserve Bank of Australia will post a rate statement, which contains an update on the interest rate on October 6, at 6:30 MT time.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Find out the reasons!
The market sentiment deteriorated because of the election uncertainty and worries about rising virus cases all over the world. Let's make some analysis!
The focus of traders’ attention shifted from Brexit and the US stimulus to the coronavirus . The WHO claimed that Europe become the new Covid-19 epicenter.