Global stocks were mixed today as the earnings season continued and as China moved to ease fears on Wall Street as its crackdown continued. In the UK, Lloyds Bank reported strong quarterly results and resumed paying dividends. The company also said that it will spend 390 million pounds to acquire Embark, a company with more than 410,000 customers and 35 billion in assets under administration. Meanwhile, Anglo American recorded strong half-year results and promised to return $4.1 billion to shareholders. It made a pre-tax profit of more than $10.1 billion as commodity prices rose. Other global companies like Facebook, Alphabet, and Microsoft released strong results this quarter.

China moved to calm markets after its crackdown on tech intensified. The country’s securities regulator held a call with key executives from companies like Goldman Sachs, JP Morgan, Fidelity and Blackrock. The call sought to reassure these entities that the country remained open for business. This happened after the country issued a ban on the private tutoring industry and intensified its focus on key firms like DiDi, Alibaba, and Tencent. Meanwhile, according to the WSJ, DiDi is considering going private less than a month after it raised $4.4 billion in its IPO. The company is talking with investors and other advisors as it tries to placate Beijing authorities. Later today, Robinhood will start trading in New York.

The US dollar weakness continued after the Federal Reserve delivered its interest rate decision. The bank left interest rates unchanged and hinted that it will start tapering its asset purchases in 2022. Data published today revealed that the US economy did well in the second quarter as the country reopened. The economy expanded by 6.5% in the quarter helped by robust consumer spending. Elsewhere, in the Eurozone, industrial and consumer confidence retreated in July. In the UK, mortgage approvals declined to 81.34k while the total lending rose to more than 17 billion pounds.


The EURUSD pair rose to a high of 1.1875, which was the highest level since July 14. On the hourly chart, the pair managed to move above the 25-day moving average and is slightly below the upper side of the Bollinger Bands. Oscillators like the MACD and Relative Strength Index (RSI) have kept rising. Therefore, the pair will likely keep rising with the next key level to watch being 1.1950.



The USDCHF pair declined sharply after the Fed decision. The pair fell to 0.9080, which was the lowest level since June 18. On the four-hour chart, the pair moved below the 50% Fibonacci retracement level while the Relative Strength Index (RSI) dropped to 30. It also moved below the 25-day moving average and the neckline of the double-bottom at 0.9132. Therefore, the pair will likely maintain the bearish trend, with the next key level being at 0.9000.



The FTSE 100 index rose above a key resistance level after the latest earnings by companies like Anglo American and Lloyds. The index rose above £7,030, which was the highest level on July 26. On the four-hour chart, the index is trading at the 61.8% Fibonacci retracement level. It also moved above the 25-day moving average while the signal and main lines of the MACD moved above the neutral level. Therefore, the path of least resistance for the index is higher, with the next target being at £7,100.


General Risk Warning for FX & CFD Trading. FX & CFDs are leveraged products. Trading in FX & CFDs related to foreign exchange, commodities, financial indices and other underlying variables, carry a high level of risk and can result in the loss of all of your investment. As such, FX & CFDs may not be appropriate for all investors. You should not invest money that you cannot afford to lose. Before deciding to trade, you should become aware of all the risks associated with FX & CFD trading, and seek advice from an independent and suitably licensed financial advisor. Under no circumstances shall we have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to FX or CFDs or (b) any direct, indirect, special, consequential or incidental damages whatsoever.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD remains pressured after US data misses estimates

EUR/USD is trading closer to 1.1750, paring its recovery from earlier in the day as the safe-haven dollar is bid. US Consumer Sentiment missed estimates with 72 points in September. The financial woes of China's Evergrande are weighing on sentiment.


GBP/USD trades under 1.38 amid on UK data, dollar strength

GBP/USD is on the back foot, trading under 1.38 after UK Retail Sales figures disappointed with -0.9% in August, worse than expected. Brexit uncertainty and dollar demand weighed on the pair earlier. 


XAU/USD surrenders intraday gains, drops closer to $1,750 level

Gold struggled to preserve its intraday gains and dropped to the lower end of the daily trading range during the early North American session. 

Gold News

Experts say Ripple will win SEC lawsuit, which might propel XRP to new all-time highs

The latest development in the ongoing SEC vs. Ripple lawsuit is that documents are classified as privileged and blocked for public viewing. Though institutional investors are yet to take big bets on the altcoin in 2021, retail investors are actively trading in XRP.

Read more

US Michigan Consumer Sentiment Preview: Markets will have to look hard for positive signs

Consumer outlook expected to rebound to 72.2 in September. August’s 70.2 was the lowest since December 2011. Inflation and Delta variant wearing on US optimism. Markets face negative dollar risk from fading consumer optimism.

Read more