register nowRegister now
EURGBP TECHS

Remains Below The Feb 26 High

GBPUSD TECHS

Consolidating And Remains Vulnerable

EQUITIES

Stocks Spiral as S&P Chews Through Support

EURUSD TECHS

Bearish Focus

FED

Powell Defends Fed Policy Stance

FOREX
FOREX: Single currency cracks
-Key support in EUR/USD at $1.1027 gave way late Friday, as the perfect storm of
Italian politics, light liquidity and month-end flow worked against the single
currency. The (very) newly proposed Italian governing coalition showed early
signs of fracture Friday after the centre-left PD stated the demands of their
Five Star counterparts were unacceptable, raising the risk of fresh elections if
tensions aren't settled. The EUR's weakness will not be pleasing the US
President, who tweeted Friday: "The Euro is dropping against the Dollar like
crazy!".
-The EUR's underperformance was the key driver for another greenback rally,
bringing the USD index into very close proximity to the early August multi-year
highs of 98.932.
-The coming week starts off slow with US Labor Day. Attention turns to ISM
Manufacturing, August global PMIs, BoC rate decision and the US&Canadian jobs
reports. The central bank speaker schedule is packed, with Fed's Powell due to
speak for the final time before the September blackout period.