This is what you need to know to trade today Friday, September 17:
Markets are looking to rebound from several days of risk aversion that benefited the safe-haven dollar. Today is the time for the expiration of options and futures on Wall Street, as investors’ minds turn to US consumer sentiment and concerns regarding the Chinese company Evergrande. Gold licks its wounds, while oil and crypto hold onto profits.
Flows: The dollar benefited from strong safe-haven demand throughout the week as investors appeared to see the glass as half empty rather than half full. Some of the pressure on stocks could be related to upcoming option expirations on Friday, known as “quadruple witching.” Oscillating trading is expected.
The oro it has been hit hard by the risk-off mood that pushed the dollar and 10-year bond yields higher. The XAU / USD is licking its wounds around $ 1,760 after dipping below $ 1,750. The precious metal had been hovering around $ 1,800 for a long time.
Early on Friday, the dollar has moved away from its highs, with the GBP/USD recapturing 1.38 and the EUR/USD going back to 1.18. The Financial Times reported that the member of the European Central Bank Phillip Lane privately noted that a rate hike is looming in the coming years. The ECB denied the information.
Optimistic data in the United States: US retail sales stood at + 0.8% in August, improving on the projected 0.7% decline and showing strength in the world’s largest economy. The underlying figures also beat estimates. The Philadelphia Fed manufacturing index also surprised to the upside, while the inflation component fell.
Buyers pulse: The preliminary index of consumer sentiment from the University of Michigan for September is forecast to show a minor increase from the 70.3 figure in August.
Michigan Consumer Sentiment Preview: Markets Will Have To Look For Positive Signals
Evergrande: China’s second-largest real estate company remains in dire financial distress. His troubles are weighing on sentiment in Asia.
The cryptocurrencies They have held on to the gains made earlier this week. Bitcoin is trading around $ 48,000, Ethereum is around $ 3,550, and Ada is holding on to $ 2.50.
WTI crude is trading around $ 72, consolidating its gains.
More: Analysis of US Data: Strong Demand, Weaker Inflation, Perfect Balance May Return to Markets
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