September 23 on Friday, US stock indexes closed lower, as the fall in oil prices significantly spoiled the mood of investors. After information appeared that Saudi Arabia was considering a planned meeting of members of the Organization of Petroleum Exporting Countries and other leading oil producers in Algeria, just as a consultation and not expecting to sign specific contracts, oil futures quotes went down. The decline in oil prices has led to a significant decrease in the shares of the energy sector and the stock market as a whole. In addition, the speeches of representatives of the Fed, added chances for a speedy increase in rates in the US. So, Boston Fed President Eric Rosengren said Friday that short-term interest rates should be raised now, and warned that reducing unemployment below its long-term sustainable level could undermine economic recovery.
The Dow Jones Industrial Average closed down by -131.01 points, or -0.71%, to 18.261.45. The S & P 500 closed down -12.49 points, or -0.57%, at 2,164.69. The Nasdaq Composite Index fell -33.78 points, or -0.63%, to close at 5,305.75.
September 26, Asian stock indexes fell, amid low oil prices and investor anxiety, rising likelihood, rising interest rates in the United States, before the end of this year. The Japanese Nikkei index dropped to -209.46 points, or -1.25%, ending the session at 16,544.56. At the same time, the Australian market remained almost unchanged, as the S & P / ASX 200 added 0.12 points, or 0.00%, to close at 5.431.42. The Chinese market has also suffered from lower oil prices, so shares of Chinese oil giant Sinopec fell by -1.6%. During today’s session, the Shanghai Composite Index fell by -53.47 points, or -1.76%, to the level of 2,980.43. In Hong Kong, the Hang Seng index also trades down, losing -378.09 points, or -1.60%.
In the FOREX currency market today, the USD / JPY currency pair quotes, after a rebound from the key resistance level of 101.01, began to decline, while breaking through the low of yesterday’s daily candle. Moving averages point to a continuation of the downward trend, which makes it possible to expect the continuation of the downward movement, towards a key support level of 98.98. Alternative option. In the case of renewed growth, breakdown and consolidation of the USD / JPY currency pair quotes, above the key resistance level of 101.01, we can expect the bullish dynamics to continue, in the direction of the key resistance level of 103.52.
After the candlestick pattern of a bearish takeover formed on Friday on the daily chart of the AUD / USD currency pair and a further decline during today’s trading, there is a chance that the bearish movement will continue to the south, towards the key support level of 0.7490.
On Friday, the quotes of the NZD / USD currency pair were able to break through and gain a foothold below the lower boundary of the upward channel. Today, quotes continued to decline towards a key support level of 0.7053.
Today, gold quotes resumed their decline, after a high reversal candle was formed on Friday on the daily chart. After that, there is a possibility that the downward correction will continue, to test the key support level of 1329.62, the breakdown of which will give the bears the opportunity to continue the downward movement in the direction of the key support level of 1304.32.
The review was prepared by Fort Financial Services analytical department. Follow our publications!