This is what you need to know to trade today Friday, September 24:
The appetite for risk of the last American session cooled slightly in the Asian session this Friday, as the current uncertainty around the destination of the indebted Evergrande in China it put investors in limbo.
Asian markets were mixed, while S&P 500 futures fluctuated between gains and losses, virtually unchanged on the day. The US dollar appeared to be stabilizing, attempting a minor rebound after Thursday’s hit. Cautious market mood combined with higher Treasury yields bailed out dollar bulls.
The latest developments in Evergrande’s history after Thursday’s local coupon payment scared markets as they await further updates on the impending $ 83 million overseas coupon payment and the $ 47.5 million payment from the next week, both with a 30-day grace period before they could be considered in default.
Investors also digest the optimistic changes in the monetary policy stance of the Fed and the BoE amid optimism about the $ 3.5 trillion spending bill.
The price of oro seeks to extend recovery from six-week lows while recapturing $ 1,750. The WTI It is consolidating near monthly highs around $ 73.50, ignoring news that China’s NDRC is looking to solve rising commodity price issues while tapping into strategic oil reserves.
Across the currency space, the Antipodes have stalled their mode of recovery, as the AUD/USD It falls back below 0.7300 after the IMF cut Australia’s GDP growth forecast for 2021 amid concerns from the housing market. Meanwhile, the USD/JPY holding the highest ground around 110.50, benefiting from US Treasury yields, with benchmark 10-year rates hovering around two-month highs.
The EUR/USD it remains higher above 1.1700 despite firmer yields and preliminary PMI reports from Markit for the euro area. ECB President Christine Lagarde said that many of the causes of the price increase are temporary. The German IFO poll and Fed Chairman Jerome Powell’s speech will be in the spotlight. Sunday’s German elections could keep EUR investors cautious.
The GBP/USD it is trading above 1.3700, retaining most of the BoE-induced gains. The Bank of Ingalterra remained firm in its monetary policy configuration, but hinted at a possible rate hike earlier than expected.
Cryptocurrencies return to negative, with the Bitcoin weak below $ 45,000.
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