Market Update – September 25 – Yen breached 11-month low

<p></p>
<p>Stock markets traded mixed across <strong>Asia,</strong> with China bourses underperforming as concern over the health of the property sector resurfaced. <strong><a href="https://www.reuters.com/world/china/china-evergrande-unable-meet-qualifications-issuance-new-notes-2023-09-25/">Evergrande</a> </strong>-20.91% -Sales not as expected, unable to issue new notes under its debt restructuring plan. European futures and US futures are lower. The “<em><strong>higher for longer</strong></em>” message continues to weigh on sentiment and while the US may be heading for a soft landing, Europe is clearly struggling. The rise in energy prices is not helping. The 10-year Treasury yield is currently up 2.8 bp, the 10-year Bund yield 1.0 bp. <b>EU escalates China tensions </b>with probe to ward off cheap EPS and warns China it will be more assertive on ‘fair trade’. Republicans struggle to unite around a plan to avert <strong>shutdown.</strong></p>
<p>A full, lengthy shutdown of the US government is “likely” at the end of the month and could leave the Fed reluctant to raise interest rates in November.</p>
<p><a href="https://forextraderhub.com/wp-content/uploads/2023/09/2023-09-25_09-56-39.jpg"><img decoding="async" class="aligncenter size-full wp-image-733050" src="https://forextraderhub.com/wp-content/uploads/2023/09/2023-09-25_09-56-39.jpg" alt="" srcset="/wp-content/uploads/2023/09/2023-09-25_09-56-39.jpg 1303w, /wp-content/uploads/2023/09/2023-09-25_09-56-39-300×57.jpg 300w, /wp-content/uploads/2023/09/2023-09-25_09-56-39-1024×193.jpg 1024w, /wp-content/uploads/2023/09/2023-09-25_09-56-39-768×145.jpg 768w, /wp-content/uploads/2023/09/2023-09-25_09-56-39-696×131.jpg 696w, /wp-content/uploads/2023/09/2023-09-25_09-56-39-1068×202.jpg 1068w" /></a></p>
<ul>
<li><strong>FX – USDIndex</strong> has lifted <span>105.30.</span> <strong>EURUSD </strong>and <strong>GBPUSD</strong> are <span>1.0640 <span>and</span> 1.2245<span> respectively.</span></span> The <strong>Yen</strong> sold off and <strong>USDJPY</strong> lifted again to <span>148.45.</span></li>
<li><strong>Stocks – JPN225 </strong>and <strong>ASX</strong> lifted 0.9% and 0.1%. Wall Street pared its modest early gains and closed in the red. The <strong>US30</strong> was off -0.31% to 33,964, with the <strong>US500</strong> lower by -0.23% to 4320, and the <strong>US100</strong> down -0.09% to 13,212. All were sharply lower for the week too with respective declines of -1.9%, -2.9%, and -3.6%. In fact, it was the worst week for the S&amp;P since the March 10 week that included the SVB collapse.</li>
<li><strong>Commodities – Oil</strong><span> rose this morning at </span><span><span>$90.07</span></span> as expectations of tight supply and signs of stronger economic performance in China and the US boosted prices. <strong>Russia</strong> last week banned the export of diesel and petrol, adding to supply pressures after the country joined <strong>Saudi Arabia</strong> in extending oil production cuts to the end of this year. <a href="https://finance.yahoo.com/news/oil-resumes-rally-hedge-funds-001424424.html"><strong>Hedge Funds</strong></a> join bullish bets on oil.</li>
<li><b>Gold</b> rebounded to $<span>1927.15 <span>but overall remains sideways</span></span>.</li>
</ul>
<p><strong>Today</strong>: ECB President Lagarde speech.</p>
<p><a href="https://forextraderhub.com/wp-content/uploads/2023/09/TELEGRAM-MARKET-UPDATE-14.png"><img decoding="async" class="aligncenter size-full wp-image-733065" src="https://forextraderhub.com/wp-content/uploads/2023/09/TELEGRAM-MARKET-UPDATE-14.png" alt="" srcset="/wp-content/uploads/2023/09/TELEGRAM-MARKET-UPDATE-14.png 1640w, /wp-content/uploads/2023/09/TELEGRAM-MARKET-UPDATE-14-300×169.png 300w, /wp-content/uploads/2023/09/TELEGRAM-MARKET-UPDATE-14-1024×577.png 1024w, /wp-content/uploads/2023/09/TELEGRAM-MARKET-UPDATE-14-768×433.png 768w, /wp-content/uploads/2023/09/TELEGRAM-MARKET-UPDATE-14-1536×865.png 1536w, /wp-content/uploads/2023/09/TELEGRAM-MARKET-UPDATE-14-696×392.png 696w, /wp-content/uploads/2023/09/TELEGRAM-MARKET-UPDATE-14-1068×602.png 1068w, /wp-content/uploads/2023/09/TELEGRAM-MARKET-UPDATE-14-745×420.png 745w" /></a></p>
<p><strong>Interesting Mover: BTCUSD</strong> is down for a 4th day in a row, retesting <strong>$26,000.</strong></p>
<p><strong>Click </strong><a href="https://www.hfm.com/en/trading-tools/economic-calendar.html"><strong>here</strong></a><strong> to access our Economic Calendar</strong></p>
<p><strong>Andria Pichidi<br />
</strong></p>
<p><strong>Market Analyst</strong></p>
<p><strong>Disclaimer: </strong>This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.</p>
<p><a href="https://analysis.hfm.com/733033/">Source link </a></p><p>The post <a href="https://forextraderhub.com/market-update-september-25-yen-breached-11-month-low.html">Market Update – September 25 – Yen breached 11-month low</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>