Financial News
The Crypto Daily – Movers and Shakers -23/09/19
The crypto bears drag the majors into the red at the start of the week. Bitcoin would need to make a move to support the broader market.
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Economic News
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US Equity Indexes: Short-Term Volatility Expected Due to Rate Cut Uncertainty
While some wait for a recession, others are watching for a potential jump in inflation that could derail any thoughts of future rate cuts by the Fed.
Forex News
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Private Sector PMIs, Brexit and Trade in Focus
Geopolitics will continue to drive the majors on the day, with private sector PMIs to also provide the EUR and USD with direction.
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Cryptocurrencies News
ALL CRYPTOCURRENCIES NEWSThe Crypto Daily – Movers and Shakers -23/09/19
The crypto bears drag the majors into the red at the start of the week. Bitcoin would need to make a move to support the broader market.
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ICO News
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Tokenbox Partners with Indacoin to Provide Safe Bank Card Depositing
Tokenbox is a Fintech company developing an open platform that unites investors and cryptocurrency funds under the control of professional portfolio managers and traders.
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Commodities News
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Crude Called $5 to $10 Higher After Drones Attack Saudi Crude Facilities
Saudi Arabia has yet to comment on the extent of damage on its oil production but industry sources have said some 5-6 million barrels per day (bpd) or 5-6% of global supply have been affected.
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![Metals such as gold and silver were trading negative on Friday on a mix of improving market sentiment and a profit booking movement ahead of the weekend. However, both metals reacted to the upside following the weaker than expected nonfarm payrolls data published today. The same story happened with palladium and platinum that are now recovering positions. Copper is extending its already daily gain. U.S. job market extends its weak note The United States created 130K new jobs in August, well below the 158K expected by market and the previous data of 159K. The last month was revised 5K down from 164K. On the other hand, the wages growth rose 3.2% in August, above the 3.1% expected by the market. However, the number is a slowdown from July's revised 3.3% data. The unemployment rate remained at 3.7% another month, while the participation rate of the labor force rose to 63.2% in August from 63.0% in the previous month. Gold recovers almost all losses after NFP [caption id="attachment_598622" align="alignnone" width="1713"] XAUUSD 1-hour chart Gold September 6[/caption] Gold reacted positively after the weak nonfarm payrolls data in the U.S. and it is recovering almost all its daily losses. Early in the day, the metal broke below the 1,520 area and fell to test the 1,500 critical level, but after the employment report, it jumped to be traded at 1,517. Currently, the unit is trading 0.16% negative on the day at 1,516. On the week, the metal is ready to close its second negative week in a row as the unit has not been able to break above the 1,550 area. XAU/USD needs a run above the 1,527 to close positive on the period. Meanwhile, it is posting a 0.30% weekly decline. Silver turns positive after NFP [caption id="attachment_598623" align="alignnone" width="1713"] XAGUSD 1-hour chart Silver September 6[/caption] Silver just exploded after the nonfarm payrolls data on Friday and recovered all its previous daily losses to turn positive on the day at 18.65. Previously in the day, silver was trading down amid improved risk sentiment and profit-taking ahead of the weekend. XAG/USD fell from the 18.60 area to trade at 18.00, its lowest level since August 27. However, the U.S. employment report ignited the pair and sent it back to 18.70, where it is trading right now with a 0.35% daily gain. On the week, silver is ready to close its fifth positive week in a row, thought the unit is trading well below weekly highs at 19.50. Copper negative after testing the 2.6400 are [caption id="attachment_598624" align="alignnone" width="1713"] XCUUSD 1-hour chart Copper September 6[/caption] Copper is trading negative on Friday as investors are closing positions around the 2.6400 area before the weekend. After testing the 2.6420 level, its highest price in over a month, XCU/USD is currently moving 0.25% at 2.6180. XCU/USD is ready to close its second positive week. The base metal is posting a 3.10% weekly gain right now. It would be its best week in over six months.](http://responsive.fxempire.com/cover/1845x1230/n/_fxempire_/2019/09/Gold-And-Silver.jpg)
Opinions
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Euro Rebounds as ECB Underwhelms; Draghi Faced Opposition to QE
Draghi was also hurt by a headline from Bloomberg that said he faced opposition from several key ECB governors in his ultimately successful bid to restart quantitative easing, according to officials with knowledge of the matter.
Technical Recession: What it is and How the Trumpian Era Driving The Economy to a Potential Recession.
The term “technical recession” has been all over the past month, as many analysts see the risk of a technical recession in the Eurozone’s largest economy piling up.
This is What Winning Trade Wars Looks Like
Amongst the many Trump campaign promises, the promise that the American people will “Have so much winning if I get elected that you may get bored with winning” stands out, however it doesn’t appear like it will become boring anytime soon.
Central Banks: The Market’s Life Buoy
The traditionally slow month of August has been very tough for traders so far this year.
Jobs Report Will Lift Uncertainty Off Fed, Move it to ECB
In my opinion, after the jobs data is released on Friday and traders make their position adjustments, the uncertainty over the Fed’s July 31 monetary and interest rate decisions will be lifted and the uncertainty will shift to the European Central Bank. This should lead to further pressure on the
Can New ECB Head Christine Lagarde Help the EUR?
The EU surprised the market by appointing Christine Lagarde, the head of the IMF, to take the place of Mario Draghi when he retires as President of the ECB in November.
Brokers News
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Forex Race Demo Trading Contest – September 2019 edition is now open for registration.
Participate in Forex Race Demo Trading Contest and win amazing prizes delivered in Amazon.co.uk Gift Cards*.
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