This is what you need to know to trade today Monday, September 13:
Markets have started the week with minor gains after a week down. The sentiment is based on uncertainty about US inflation, technological crackdown in China, and concerns about covid and infrastructure. The dollar is gaining ground across the board. Cryptocurrencies are on the defensive.
Cautious feeling: S&P 500 futures remain little changed after stocks returned earlier gains last week. Concerns about US inflation continue to prevail in markets after relatively high IPP producer price figures on Friday and before the publication of consumer prices CPI on Tuesday.
The officials of the Federal Reserve They are now officially in their “silent” mode ahead of next week’s decision. Analysts expect the Fed to refrain from cutting its bond buying program next week, but to make a move later in the year. In addition to inflation figures, the focus is on data for retail sales and consumer sentiment.
Plans infrastructure spending Americans are up in the air as Democrats are divided on increasing corporate taxes and while conservative Democratic Senator Joe Manchin rejects the $ 3.5 trillion cap.
Pressure on technology: The Chinese authorities are reportedly considering disintegrating Alipay, one of the largest payment companies. It comes after Beijing’s other efforts to curb the power of big tech companies and dampens sentiment. News of new COVID-19 outbreaks also adds to the gloomy sentiment.
German elections: Center-left candidate Olaf Scholz consolidated his position as leader to succeed Angela Merkel after the third televised debate. He refrained from ruling out a coalition with the radical left, and that is weighing slightly on the EUR / USD, which is trading below 1.18.
Last week, the European Central Bank announced the slowdown in its bond purchase plan, but insisted it is only a “recalibration” and not a major change. The most significant changes should be made below
See: How the ECB can reduce stimulus without raising rates: Denying it
The GBP/USD It stands above 1.38 as long as UK Prime Minister Boris Johnson will announce changes to the country’s policy on covid and as cases remain high.
The oro it is trading below $ 1,800, while 10-year US Treasury yields hover around 1.33%. The Petroleum it is trading around $ 70. Goldman Sachs said the world oil market “will move up significantly”
cryptocurrencies: Bitcoin is trading below $ 44,000, Ethereum below $ 3,300 and ADA below $ 2.50. Digital assets are back on the defensive, with some citing Korean regulation as a catalyst. Cryptocurrencies suffered a “flash-crash” last week when El Salvador made Bitcoin legal tender.
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