Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Market updates on September 12
Information is not investment advice
Key events ahead:
- ECB monetary policy statement and main refinancing rate – 14:45 MT (11:45 GMT) time
- ECB press conference – 15:30 MT (12:30 GMT) time
- US CPI and core CPI – 15:30 MT (12:30 GMT) time
- Eyes of all traders of the EUR will be on the ECB meeting later today. The European Central bank is expected to deliver a great stimulus package, which may weaken the EUR. At the moment, EUR/USD is moving up towards the resistance at 1.1037. The next key level will be placed at 1.1054. From the downside, the first support will lie at 1.1. After that, you need to pay attention to the 1.0983 level. The next support will lie at 1.0960.
- After the US President Donald Trump tweeted he'd be delaying the next tariff hike on Chinese goods for two weeks, the USD/JPY pair tested the 108.16 resistance level. After that, the pair inched to the downside to the support level at 107.78. If the Japanese yen continues to strengthen, the next support will be placed at 107.62. In case of the bullish strength, the pair will rise back to the 108.16 level. The next resistance will lie at 108.29.
- The Australian dollar was supported by the news, too. The Antipodean currency has risen to the 0.6885 level. If bulls push AUD/USD pair higher, the next resistance will lie at 0.6896. On the other hand, if the USD gets stronger, the pair will fall to the support at 0.6867. After the breakout of this level, the 0.6857 mark will be important.
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
The market sentiment remains risk-off amid rising virus cases around the world and fears over new restrictions and lockdowns.