Weekly Market Wrap: Yields and USD Continue to Rise!

New: Join our 2.5 hours live workshop with Spencer to learn the basics of trading and make your first live trade!

Thumbnail Banner Weekly Market Wrap X3

For subscribers of our “Daily Trading Signals”, we now also include a “Weekly Market Report”, where we provide a weekly deep-dive on the market, including fundamentals, technical, economics, and portfolio management:

Click here for last week’s market report (25 September 2023)
Click here to subscribe for the latest market report (02 October 2023)
Click here to see the archives of all our past market reports

Market Recap & Upcoming Week

Last week, the tech and financial sectors saw significant developments. Amazon announced an ambitious investment of up to $4 billion in Anthropic, positioning itself as a competitor to OpenAI, the developer of ChatGPT. This move is part of Amazon’s strategy to remain competitive against tech giants like Microsoft and Google’s Alphabet. Meanwhile, OpenAI itself seeks a massive valuation jump to $90 billion in its latest share sale, up from a previous $29 billion earlier this year.

China’s moves to reconsider price controls in its housing market and achieve self-reliance in the semiconductor industry underscored its shifting economic strategies, after concerns mounted over the fallout from Evergrande’s financial troubles, with the property giant’s shares plunging 25% due to delays in debt restructuring.

In the energy sector, oil prices soared to a one-year high as crude stockpiles dwindled, while mortgage rates in the U.S. spiked to a nearly 23-year high, presenting further challenges for the housing market. The specter of a U.S. government shutdown loomed as House Republicans canceled their recess, signaling a tense standoff in the days to come.

This week poses significant potential disruptions on both the political and economic fronts. Tensions in Congress are reaching a boiling point as a government shutdown looms. The deadlock stems from a lack of agreement on last-minute spending bills needed to sustain government operations past September 30th. The ramifications of such a shutdown are vast, affecting millions, from essential government personnel to beneficiaries of federal aid programs. Moreover, the economic impact is non-trivial.

Goldman Sachs analysts estimate that for each week the shutdown persists, the U.S. GDP growth could be slashed by 0.2 percentage points, though a swift recovery might be on the cards post an agreement. The larger concern arises from the potential shutdown of key economic agencies like the BEA, BLS, and U.S. Census Bureau. This lack of crucial data could impair the Federal Reserve’s monetary policy decisions, especially as they prepare for the Federal Open Market Committee (FOMC) meeting scheduled at the end of October.

On the economic data front, expect a series of reports that will provide insights into the health and trajectory of the U.S. labor market. Starting Tuesday, we’ll receive the August JOLTS report, which will be followed on Wednesday by ADP’s National Employment Report detailing private sector payroll trends for September.

The week will culminate with the much-anticipated nonfarm payrolls report on Friday. All these updates come at a time when the Federal Reserve’s recent rate hikes have started impacting the job market, albeit it still exhibits resilience with hiring rates near historic highs. It’s a pivotal week, and stakeholders from all sectors will be watching closely.

 

Trading Signals GBPUSD 270923

GBPUSD – Following up on this trade, we are up +428 pips profit, and prices are almost hitting the TP as well!

Congrats to those who took this trade! 💰🔥💪🏻

 

Trading Signals EURUSD 270923

EURUSD – Following up on this, we are up +234 pips profit, and prices are very close to hitting our TP!

Congrats to those who took this trade! 💰🔥💪🏻

 

Trading Signals WTIUSD 290923
Crude Oil (WTIUSD) – Prices have gone up almost 50% in the last few months, will this cause inflation to spike again?

 

Trading Signals AUDUSD 300923

AUDUSD – Prices finally starting to move! 🔥

 

Subscribe for real-time alerts and weekly reports:
👉🏻 https://synapsetrading.com/daily-trading-signals

 



Banner 01 Trading Foundation Workshop New to Trading? Make your first live trade today in this workshop! Meet Spencer live for 2.5 hours of hands-on training! No prior experience required! Learn all the basics of trading, and step-by-step guidance to make your first trade!

Daily Trading Signals Banner Updated If you're looking for the best trading opportunities every day across various markets, and don't want to spend hours doing the research yourself, check out our private Telegram channel!
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *