Gold 1952,685
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EURUSD 1,1868
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DJIA 27500,50
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OIL.WTI 41,20
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DAX 13117,88
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The World Bank predicts that the economy will not recover before 2025. The forecast is not encouraging. To achieve the recovery enough measures have to be taken, but some countries are in no hurry.
USD/JPY
The US Congress is slow and unable to approve $3 billion in financial aid. Powell, in his speech, believes that the economy is recovering faster than predicted, but everything in the future will depend on the course of the COVID-19 infection. Vaccines are still being tested and drug supplies are constantly being delayed.
On Friday, the S&P500 index fell by 1% to 3317. Investors are disappointed that they have received virtually no specific information from the speech and press conference of the US Federal Reserve.
China is coming to the fore and becoming a growth driver for the world economy. Fourteen different coronavirus vaccines are already being tested in China, and the government believes that the epidemic is under full control.
Japanese Yen
For the fifth consecutive trading session, the yen is being strengthened. For the sixth time since 2018, an attempt has been made to pass level 105. The Bank of Japan will continue to ease monetary policy. It was also noted in the statement that economic activity is resuming and is gaining momentum. Investors are encouraged by the change of power in Japan and seem to share the Bank of Japan’s view on the recovery. The USD/JPY pair is strengthening and at a record pace. Taking into account all factors, further strengthening to 104 can be predicted, and the road to 100 opens up further.
Silver
It has been a long time since we paid attention to a metal such as silver. Like gold, silver has spent part of September in the side trend. Now there are some signs that growth must continue. One important growth driver will of course be the cheaper US dollar. China’s reviving economy is also having a positive impact on the price of silver. If the price can pass the $27.40-27.60 levels, it will open the way to the last highs of $29.24 and 29.92. The psychological target for silver will be a level of $30.
What awaits us today?
03.30 NBK base credit rate.
14.30 New housing price index in Canada for August
16.00 Address by US Federal Reserve Chief J. Powell
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