💫Happy Tuesday, dear traders! Are you ready to beat the market today?💥 Let's look through the main news for now:
🇯🇵JPY continues to fall. The Central Bank of Japan keeps rates in the negative zone, which weakens the country's currency. USDJPY is now trading above 141.00.
🇺🇸Morgan Stanley believes that this time, the stock decline will be mainly due to a drop in company revenues, in contrast to previous drops, when stocks fell against the backdrop of Fed policies.
🇦🇺Australia increase the rate to 2.35% (forecast 2.35% / previous 1.85%).
Central Bank stated a further tightening of monetary policy is appropriate.
🛢Oil gained 4% after OPEC decided to cut production by 100 000 barrels per day.
🥇XAUUSD is trading under the 50-period moving average. The breakout of this resistance might open the way to 1740.00.
⛽️ Fuel in the US continues to be getting cheaper. Gas may fall to $3 per gallon. US gas prices have fallen for the 11th week in a row. This dynamic contributes to the fight against inflation as the cost of fuel is one of the main factors affecting the CPI in the states.
What to watch today?
🇺🇸USA - Composite/Services PMI (Aug) - 15:30 MT
🇺🇸USA - ISM Non-Manufacturing PMI (Aug) -17:00 MT
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