September 28: Friday close and Weekend Wrap

September 28: Friday close and Weekend Wrap

Key Points:

USD stronger across the board

US stocks close higher for 2nd consecutive session

US presidential debates start Tuesday 29th September

US indices closed higher on Friday for the second consecutive day in a relatively calm session with no explosive triggers for volatility as US yields fell but the USD rose across the board and Gold settled at 1861. The Asian session saw some early USD weakness but the recent strength reappeared again during the US session with DXY back up to 94.50. AUD dipped to 0.7006 after touching as high as 0.7087 during the Asian session but managed a close around 0.7030, likewise EUR was capped at 1.1685 key resistance and fell back to 1.1617. Cable continues to find support on any dip under 1.2700 and closed the week out stronger on the crosses than a week earlier. EU/UK Brexit talks resume today with some optimism that an 11th hour agreement will be struck. GBP spiked higher on the open this am to 1.2775 but has fallen back a little since after BoE’s Tenreyo’s comments about the benefits of negative rates took a bite out of the optimism. Further verbal intervention comments out earlier today from ECB’s Visco and Cos both mentioning the strength of the EUR as a weight dampening inflation and growth prospects. EUR/USD is unchanged from its close Friday. The weekends highlights were that Trump has formerly announced Amy Coney Barrett as his nomination to the Supreme Court ahead of the election causing uproar amongst the Democrats and an outburst of opinion on social media. Also a NY Times article claims to have tax returns for Trump going back 15 years showing that he paid minimal tax, to which the President has claimed is ‘fake news’. No data to excite in the upcoming Asian session to start the week with so the focus will return to Brexit talks and US stocks to dictate price action later today. The highlight this week will be NFP on Friday but ahead of that we get the first live TV presidential debate due for Tuesday evening where the focus will be how Biden stands up and responds to Trump’s usual aggressive tactics.

Trade the global markets with a broker that has integrity, honesty and transparency at its core


Market Wrap: 24 August 2023

Stocks Rally on Tech Optimism, Fed Rate Outlook:  Lackluster US, Europe economic data opens door for rate pause Nvidia’s bullish sales outlook prompts after-hours stock

Read More »

Market Wrap: 15 August 2023

Yuan Falls on PBOC Rate Cuts; Asian Stocks Mixed:  Japan’s economy shows resilience as growth beats estimates Economic woes mount in China as post-pandemic recovery

Read More »

Market Wrap: 11 August 2023

China Tech Pulls Asian Stocks Lower; Dollar Steady:  US core CPI posts smallest back-to-back increases in two years Daly says Fed has ‘more work to

Read More »

Market Wrap: 31 July 2023

Asian Stocks Echo US Rally on Soft Landing Hopes:  Yen declines after unscheduled Bank of Japan bond buying China manufacturing PMI data shows contraction in

Read More »

Market Wrap: 27 July 2023

Stocks Rise, Dollar Slips as Rates Peak in Sight:  ECB will raise rates by another quarter-point, survey shows US data Thursday include GDP, initial jobless

Read More »

This website is owned and operated by the Ox Securities group of companies, which include:
Ox Securities Pty Ltd registered address Level 37, 1 Macquarie Place, Sydney NSW 2000 Australia. AFSL 438402 ACN 163 551 602
Ox Securities Limited (SV) registered address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St Vincent and the Grenadines
Risk Warning: The information contained on this website is general in nature and does not constitute advice or a recommendation to act upon the information or an offer. The information on this website does not take into account your personal objectives, circumstances, financial situations or needs. You are strongly recommended to seek independent professional advice before opening an account with us and/or acquiring our services/products. Ox Securities Limited (SV) do not accept applications from residents of the United States of America and Australia
Before you decide whether or not to invest any products referred to on this website, being over the counter (OTC) derivatives, it is important for you to read and consider our Financial Services Guide (FSG), Product Disclosure Statement (PDS), and Terms and Conditions (T&C), and ensure that you fully understand the risks involved. Fees, charges and commissions apply. OTC derivatives, including margin foreign exchange contracts and contract for differences, are leveraged products that carry a high level of risk to your capital. Trading is not suitable for everyone. You may incur losses that are substantially greater than your initial investment. You do not own, or have any rights to, the underlying assets which the OTC derivative is referring to. You should only trade with money you can afford to lose. There are also risks associated with online trading including, but not limited to, hardware and/or software failures, and disruptions to communication systems and internet connectivity.

Copyright © OxSecurities 2020. All rights reserved