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Market-Chatter|Libertex

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Logo of telegram channel marketchatterlibertex — Market-Chatter|Libertex
Channel address: @marketchatterlibertex
Categories: Economics
Language: English
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83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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The latest Messages

2021-09-29 12:19:23
Gold gains a bit more traction but caution remains

Gold has lifted back above $1740 an ounce this morning. The modest rebound comes as the Yen makes some progress (as noted in previous updates) and the US 10 Year Treasury yield hovers just above 1.50%. To be honest, given those driving influences, it is a little surprising that gold is not making a little more progress than it has thus far. It is probably fair to say that the metal remains cautious after yesterday and not taking the moves in the Yen and bonds for granted. That does rather make sense, as we know how quickly those two markets can turn around and it is likely that any gold buyers are wary of getting caught long again for that reason. Nevertheless, it has made a little progress this morning, but from a technical perspective, the move back above 1740 is not of any special consequence. Gold is just now trading at 1742.50

GOLD - To view the chart, please click here
36 viewsDagmar Libertex, 09:19
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2021-09-29 12:11:38 European stocks extend opening gains this morning

Well, it has been quite a solid rebound for the equity markets so far today. The FTSE 100 has snapped what looked like a lower opening today and turned that around quite impressively. The main reason for that, as noted a little earlier looks to rest partly with the pound in terms of any dynamic correlation, but of course individual stocks are not by any means subject to that wider influence. The move higher in the FTSE 100 has also come as both the CAC and the DAX make further headway. The DAX has reclaimed levels above 15,400 today and the CAC has risen back above 6,575 and all three are matching each other approximately in percentage term gains. The European markets are also being assisted by the gains in the US futures which are still being maintained. Of course this could change again as the session unfolds and one is reminded that tomorrow is the month and quarter end. One thing to note though; is that yesterday was of course a Tuesday. So, was that just another in a long line of counter trend sessions that often occur on such days? Well, it is rather too early to make a judgement on that- more to follow as and when
41 viewsDagmar Libertex, 09:11
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2021-09-29 11:49:15 Ether still holding its wider range

The second largest cryptocurrency, Ethereum (ETHUSD) has managed to rebound from an earlier low today, at 2790. It had been trading at 2,863 around the time of the wider US close last night. The rebound today has taken it to as high as 2,931. Now in recent updates here the price has been noted as holding a wider 2700-3300 range and to explain why that is the case one just has to look at a longer term chart of the coin. You can see its 50 and 100 day moving averages have been covering the price action for quite a while now. Those are currently in place today at 2,765 (100 day) and 3,288 (50 day). So there you have it; an explanation of why that wider range has been commented on and referred to here many times recently. Within that range the configuration of the chart continues for the time being to evidence a downside bias. ETHUSD is currently trading at 2,910
53 viewsDagmar Libertex, edited  08:49
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2021-09-29 11:35:35
Pound the most volatile currency within G10 again today

Already today we have seen some quite sharp moves in the pound. Those moves are mostly focused on the GBP/USD and the EUR/GBP. However, that is not to forget the GBP/JPY too, because that has had some big swings over the past 24 hours as well. Since basing out last week at just below 149, the price had recaptured the 152.50 level this time yesterday morning, only to give it up rapidly as the GBP/USD slumped. Even the move to above 111.65 in the USD/JPY was not enough to compensate for that. Consequently, the GBP/JPY is falling back closer to the 150 handle again today, as the pound more generally remains under pressure. The GBP/USD just about held onto the noted 1.35 handle and that did deliver a sharp move back to 1.3550. However, the rebound has not held much traction so far and the threat of a move below 1.35 still looms. The GBP/JPY is currently trading at 150.35

GBPJPY - To view the chart, please click here
60 viewsDagmar Libertex, 08:35
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2021-09-29 11:25:49 USD/JPY slips back from new 2021 high as US yields fall

The yield on the US 10 Year bond rose to as high as 1.56% yesterday afternoon. That helped to support the USD/JPY throughout the whole session yesterday. The yield did edge lower into the US close, but earlier today it was back at 1.56% again and that helped to push the USD/JPY to as high as 111.68. In reaching that level it just surpassed the previous 2021 high at 111.65. The move higher in the dollar came even as the Nikkei 225 took a hit, following the lower US closes of yesterday, with a fall of 639 points on the session. So, in terms of the more usual dynamic, it was quite a departure to see the USD/JPY set new yearly highs. No matter though, because that dynamic is not vogue at the moment, it is the level of the US bonds that is counting most. So, as that yield now drops back below 1.51% this morning, one can see quite clearly why the USD/JPY has not followed through on new high. It has in fact dropped back towards 111.00. It is currently at, or near session lows, now at 111.23
65 viewsDagmar Libertex, 08:25
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2021-09-29 10:31:58 Nasdaq 100 futures on the rebound so far today

The Nasdaq 100 took a beating yesterday. It was the worst performing major US stock market in percentage terms. The index fell by 2.86%, or 434 points, as the tech sector stocks ran for cover. The index was led lower by the shear numbers of losing stocks outgunning the small number of winners, so it was a widespread drop. Names of the biggest losers that do stand out were ASML, Applied Materials and Moderna. However, the more positive start to European trading, and gains elsewhere in the US futures so far today has helped to lift the Nasdaq 100 future. The index closed yesterday at 14,770 and the current price in the future is suggesting a reopening at around 14,915

NASDAQ - To view the chart, please click here
82 viewsDagmar Libertex, 07:31
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2021-09-29 10:16:26 EUR/USD sets new 2021 low

The EUR/USD has finally succumbed to mounting selling pressure as the dollar extends its gains in terms of the USD index (USDX). That has now delivered a move lower in the EUR/USD as it takes out the previous 2021 low at 1.1664. The move came as the GBP/USD slid towards 1.35 and despite a rise in the EUR/GBP at the same time, the EUR/USD was unable to avoid a drop to fresh lows. The move has not extended very far yet, but as noted here yesterday; a breakdown below 1.1664 does potentially open a route to test the November 2020 low at 1.1603. The EUR/USD is just now trading at 1.1660 after dropping to as low as 1.1657 a short while ago

EURUSD - To view the chart, please click here
84 viewsDagmar Libertex, 07:16
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2021-09-29 10:11:38 Pound takes another hit

The pound has just set a new interim low. The GBP/USD has now fallen closer to 1.35. It closed yesterday at 1.3537 after what had been an almost 200 pip drop from high to low on the session. The price has now fallen again as the EUR/GBP lifts off session lows and rises back towards the noted technical resistance level at 0.8648. The further drop in the GBP/USD has probably helped to lift the FTSE100, where that was not priced to do so ahead of the opening. The GBP/USD is currently testing at 1.35 level and it remains to be seen if it can garner any support at that important level. The low so far has been set at 1.3504. It is currently trading at 1.3506 as the EUR/USD finally takes out the previous 2021 low at 1.1664

GBPUSD - To view the chart, please click here
77 viewsDagmar Libertex, 07:11
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2021-09-29 10:11:01 TOP NEWS 29.09.2021

Important:
USA oil - EIA reserves - 16:30 CET

Economy:
Switzerland - ZEW Expectations (sept) - 10:00 CET
EU - Consumer Confidence (sept) - 11:00 CET
Canada - Industrial inflation IPPI (aug) - 14:30 CET
Switzerland - quarterly bulletin of the Central Bank - 15:00 CET
USA - Pending Home Sales (aug) - 16:00 CET

Check our economic calendar:
libertex.com/economcalendar#/
75 viewsEmil Libertex, 07:11
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2021-09-29 10:05:41
Oil prices come off the boil so far today

The rise in oil prices yesterday saw the price of Brent and WTI reclaim some important levels. Brent rose above $80 a barrel for the near end contracts, but not quite so for the December contract (as quoted on the Libertex platform). The high there was set at $79.95 as was noted here in updates later on in the day. The drop back in oil prices later in the session saw Brent drop back below $78 and that fall has been extended further so far today as the price of December Brent falls below $77. This move has almost certainly played a part in helping the European stock market futures to rebound into the opening today. As to whether that is maintained could also depend on what happens to oil prices again today. At the time of writing this update, the price of Brent crude oil (BRN) on the platform is trading at $76.95

BRENT - To view the chart, please click here
67 viewsDagmar Libertex, 07:05
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