​​🚀 Diversification in Forex?

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Here's our article on the topic:
➡️ https://bit.ly/3DZQd6x

​☀️Happy Friday, dear traders! The volatility returned to the markets as traders lost confidence in risky assets. Let's check the news driving today's markets!

🇨🇳The Central Bank of China intervened after the yuan hit a 16-year low against the dollar.

☢️Yesterday's BTCUSD drop coincided with the report that Elon Musk's SpaceX has reduced its share of Bitcoin assets by $373 million over the past two years. BTCUSD is down 4% today.

🇺🇸US Treasury yields are near 16-year highs as The bond market is emerging from an era of low rates. The US dollar is following the bond market. USD is up 0.06% today.

🇺🇸Initial Jobless Claims in the US were released, better than the forecast. The numbers were released at 239K vs. 240K in the forecast. Meanwhile, the US Jobless Claims 4-week average started rising again – a negative signal for the labor market.

🇬🇧Retail sales in the UK dropped to -3.2% YoY. Consumption in Great Britain is slowing down. The cable reacted negatively. GBPUSD fell by 0.24% and returned below 23.6% of the Fibonacci correction level.

🇨🇳China's largest real estate developer Evergrande has filed for bankruptcy. HK50 broke the support level and is moving toward 17 100.

➡️US dollar index analysis: https://bit.ly/3OEs8qM

​​🔥Bitcoin dropped a lot

📉 The price started falling after the FOMC meeting minutes.

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😂Head and shoulders confuses traders the most
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​​#MarketNews

🚀 Jackson Hole, ten PMI releases, and the BRICS summit. This week will be full of market movements, and we will be there to trade them. Get ready, and let’s roll!

🗓 Economic calendar:
The time zone is GMT+3. Check your time zone here.

1️⃣ Monday:
No important events
2️⃣ Tuesday:
Day 1, BRICS summit
USD 17:00, Existing Home Sales
3️⃣ Wednesday:
Day 2, BRICS summit
EUR 11:00, Europe Flash Services and Manufacturing PMI
GBP 11:30, UK Flash Services and Manufacturing PMI
USD 16:45, Flash Services and Manufacturing PMI
4️⃣ Thursday:
Day 3, BRICS summit
Day 1, Jackson Hole Symposium
USD 15:30, Unemployment Claims
USD 19:00, FOMC Member Harker Speaks
5️⃣ Friday:
Day 2, Jackson Hole Symposium
JPY 02:30, Tokio Core CPI
EUR 11:00, German ifo Business Climate
USD 17:05, Fed Chair Powell Speaks
EUR 22:00, ECB President Lagarde Speaks

🗞News you must know today
🇨🇳 Chinese 1-y Loan Prime Rate reached 3.45%, up from 3.40% in July. The 5-y Rate is at 4.20%, up from 4.05%. USDCNH is up 330 points today.

🏦 Wall Street Journal writes that China’s economic growth is over after 40 years. WSJ suggests the reason is the tensions with Western countries.

🥇 Capital inflow into gold-backed funds has been lowering for 16 weeks in a row, reaching the 2.5-year low. Gold interest is decreasing due to the US treasury yield growth.

📊 Global bond yields hit a 15-year high despite the hope for central banks’ pivot from QT to QE. The market probably doesn’t believe the economy will be robust in the following years.

🧱 There will be a lot of discussions about national currencies at the BRICS summit starting tomorrow. We expect a lot of movements in the CNH (China), BRL (Brazil), and ZAR (South Africa).

🏆 Gold analysis for the week ahead:
➡️ https://bit.ly/3qEwkPn

💚 Have an amazing week!

​​🔥Hello, guys! We are here with the new portion of the news.

🇨🇦New Housing Price Index (NHPI) in Canada dropped by 0.1%. Nevertheless, in the daily timeframe, USDCAD bounced from the upper line of the channel and started correcting. The Canadian dollar is strengthening by 0.11% and returning to its average line.

🇯🇵Japanese Core CPI was released higher than expected – at 3.3% vs. 2.9% in the forecast. USDJPY started falling. USDJPY is decreasing by 0.3% right now.

🇯🇵Ex-Bank of Japan official predicts no intervention in the yen until USDJPY rises above 150. USDJPY is now at 145.760. The probability of a further correction is high. The nearest support level is at 145 yen.

🇺🇸US government bonds continue to be sold in anticipation of the Congress at Jackson Hole. As a result, the ten-year yield has updated its 2022 highs and reached the 2007 levels of 4.34%. Well, not only do they sell ten-year bonds - but there have also been problems with liquidity in this market for a long time against the backdrop of a large deficit and an increase in the supply of government bonds.

🔈According to BBG ‘Gold ETF outflows have continued for 12 straight weeks. Interest in gold is declining amid the rising UST yield. Gold price dropped to a five-month low.'

🇺🇸Statistical analysis of the US500 performance since Fed chairs' speeches at the Jackson Hole symposium since 1999 has shown that the index is up +0.39% on average a week after the chairs' speeches. The index grew in 16 out of 24 cases.

🇿🇦In Johannesburg on Tuesday, the BRICS summit opens, which will be the largest-ever meeting of heads of state and government of the non-Western world. According to South Africa, BRICS will focus on reducing dependence on the dollar. Meanwhile, EURUSD started correcting. The pair may soon retest 1.09300 and return to its trend (resistance) line. What’s going on with EURUSD? Check it here in our review➡️https://tinyurl.com/2edkhahs

🥇XAUUSD is still below 200MA in the daily timeframe. Williams %R left its oversold zone, a positive signal for the Bulls. The price may continue to rise for a while. What do you think of Gold, guys? Are you buying or selling? 🤔

That's it for today! Don't forget to leave us 🔥if you liked our review, and we hope to see you all soon.

​​#MarketNews
🗞Be aware this day is filled with PMI releases, so the market may act quite unpredictably. Still, there’s something you should know:

🇳🇿New Zealand Retail Sales are down 1.0% vs. a decrease of 0.4%. The NZD is slightly rising against the USD.

🇫🇷 French Flash Manufacturing PMI is above expectations (46.4 vs. 45.1). French Flash Services PMI is below expectations (46.7 vs. 47.5). This divergence shows a downturn in the services industry.

🇨🇳 Chinese President Xi Jinping has arrived in South Africa for the 15th BRICS summit and urged countries to become geopolitical rival to G7 block.

📉 Bitcoin RSI reached the lowest point since covid crash in 2020. However, the crypto market is slowly down.

💸 Bitcoin mining difficulty continues to rise, breaking the ATH almost weekly.

🇮🇳 India is about to land on the south pole of the moon. It may become the first time for the country to land on the moon.

⛽️ Europe gas prices are rising because of worker strikes in Australia which accounts for 10% of the world's LNG production. Gas reached $500 per metric ton.

📈 Daily trade idea
➡️ https://bit.ly/44kIgDx

💚 Happy trading!