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US stocks closed lower, Dow Jones down 0.55%

At the close on the New York Stock Exchange, the Dow Jones fell 0.55% to a one-month low, the S&P 500 fell 0.41%, and the NASDAQ Composite fell 0.74%.

The leading performer among the components of the Dow Jones index today was Visa Inc Class A, which gained 0.88 points (0.45%) to close at 198.64. Boeing Co rose 0.57 points (0.38%) to close at 152.39. Johnson & Johnson rose 0.44 points or 0.27% to close at 163.18.

The losers were 3M Company, which shed 5.05 points or 4.15% to end the session at 116.60. Intel Corporation was up 2.75% or 0.86 points to close at 30.36, while Goldman Sachs Group Inc was down 1.51% or 4.99 points to close at 326. .49.

Leading gainers among the S&P 500 index components in today's trading were Rollins Inc, which rose 6.05% to 35.78, Enphase Energy Inc, which gained 4.93% to close at 292.82, and SolarEdge Technologies Inc, which rose 4.22% to end the session at 278.38.

The biggest losers were Moderna Inc, which shed 6.13% to close at 130.08. Shares of Church & Dwight Company Inc shed 4.69% to end the session at 80.23.

Leading gainers among the components of the NASDAQ Composite in today's trading were Shuttle Pharmaceuticals Inc, which rose 91.28% to hit 28.50, IVERIC bio Inc, which gained 66.31% to close at 15.70, and also shares of HyreCar Inc, which rose 58.12% to end the session at 1.27. Shares of Creatd Inc were the biggest losers, losing 48.11% to close at 0.19.

Shares of Addentax Group Corp lost 39.52% and ended the session at 5.80. Quotes of Rigetti Computing Inc decreased in price by 37.09% to 2.29.

On the New York Stock Exchange, the number of securities that fell in price (2121) exceeded the number of those that closed in positive territory (1009), while quotes of 117 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,468 companies fell in price, 1,299 rose, and 194 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 3.54% to 26.91, hitting a new monthly high.

Gold futures for December delivery lost 0.62%, or 10.75, to hit $1.00 a troy ounce. In other commodities, WTI October futures fell 0.14%, or 0.12, to $86.75 a barrel. Brent oil futures for November delivery fell 3.19%, or 3.05, to $92.69 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.24% to 0.99, while USD/JPY edged up 1.58% to hit 142.80.

Futures on the USD index rose 0.66% to 110.24.

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US stock market closes higher, Dow Jones gains 1.40%

At the close in the New York Stock Exchange, the Dow Jones rose 1.40%, the S&P 500 index rose 1.83%, the NASDAQ Composite index rose 2.14%.

The leading performer among the components of the Dow Jones index today was 3M Company, which gained 3.95 points or 3.39% to close at 120.55. Nike Inc rose 3.33 points or 3.17% to close at 108.48. Home Depot Inc rose 2.74% or 7.93 points to close at 297.47.

The biggest losers were Chevron Corp, which shed 2.01 points or 1.28% to end the session at 155.11. Verizon Communications Inc was up 0.02 points (0.05%) to close at 41.08, while Caterpillar Inc was up 0.20 points (0.11%) to close at 180. 86.

Leading gainers among the S&P 500 index components in today's trading were SolarEdge Technologies Inc, which rose 11.85% to 311.36, Enphase Energy Inc, which gained 8.02% to close at 316.31, and also shares of DexCom Inc, which rose 7.73% to end the session at 88.37.

The biggest losers were APA Corporation, which shed 3.04% to close at 36.67. Shares of Old Dominion Freight Line Inc shed 2.95% to end the session at 263.98. Quotes of Halliburton Company decreased in price by 2.85% to 28.68.

Leading gainers among the components of the NASDAQ Composite in today's trading were Imara Inc, which rose 71.79% to hit 2.01, Shuttle Pharmaceuticals Inc, which gained 27.72% to close at 36.40, and shares of Spero Therapeutics Inc, which rose 26.55% to end the session at 1.43.

The biggest losers were Cleantech Acquisition Corp, which shed 28.36% to close at 6.77. Shares of Newage Inc lost 25.20% and ended the session at 0.09. First Wave BioPharma Inc (NASDAQ:FWBI) was down 23.22% to 3.24.

On the New York Stock Exchange, the number of securities that rose in price (2,400) exceeded the number of those that closed in the red (723), while quotes of 131 shares remained virtually unchanged. On the NASDAQ stock exchange, 2715 companies rose in price, 1027 fell, and 217 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 8.44% to 24.64.

Gold futures for December delivery added 0.92%, or 15.70, to $1.00 a troy ounce. In other commodities, WTI October futures fell 5.96%, or 5.18, to $81.70 a barrel. Brent oil futures for November delivery fell 5.70%, or 5.29, to $87.54 a barrel.

Meanwhile, on the Forex market, EUR/USD rose 1.08% to hit 1.00, while USD/JPY edged up 0.72% to hit 143.82.

Futures on the USD index fell 0.62% to 109.52.

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US stocks close higher, Dow Jones gains 0.61%

At the close of the New York Stock Exchange, the Dow Jones rose 0.61%, the S&P 500 rose 0.66% and the NASDAQ Composite rose 0.60%.

Salesforce.com Inc was the leading gainer among the components of the Dow Jones index today, up 3.62 points or 2.36% to close at 156.90. JPMorgan Chase & Co rose 2.70 points or 2.33% to close at 118.60. Goldman Sachs Group Inc rose 4.82 points or 1.46% to close at 335.38.

The losers were 3M Company shares, which lost 1.28 points or 1.06% to end the session at 119.27. Apple Inc was up 1.51 points (0.97%) to close at 154.45, while Honeywell International Inc was down 1.27 points (0.67%) to close at 187. 82.

Leading gainers among the S&P 500 index components in today's trading were Regeneron Pharmaceuticals Inc, which rose 18.85% to 708.85, Freeport-McMoran Copper & Gold Inc, which gained 7.89% to close at 30 .62, as well as shares of Invesco Plc, which rose 4.77% to close the session at 17.36.

The biggest losers were McCormick & Company Incorporated, which shed 6.71% to close at 79.30. Shares of Kraft Heinz Co lost 3.38% to end the session at 36.06. Quotes Campbell Soup Company fell in price by 2.98% to 47.84.

Leading gainers among the components of the NASDAQ Composite in today's trading were ShiftPixy Inc, which rose 176.54% to 31.00, Amylyx Pharmaceuticals Inc, which gained 51.01% to close at 27.03, and shares of Rubius Therapeutics Inc, which rose 48.58% to close the session at 1.29.

The drop leaders were Troika Media Group Inc, which shed 26.83% to close at 0.48. Shares of Ensysce Biosciences Inc shed 17.71% to end the session at 0.33. Quotes of Biophytis fell in price by 17.67% to 0.91.

On the New York Stock Exchange, the number of securities that rose in price (1,743) exceeded the number of those that closed in the red (1,342), and quotes of 154 shares remained virtually unchanged. On the NASDAQ stock exchange, 2274 companies rose in price, 1485 fell, and 268 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 4.18% to 23.61.

Gold Futures for December delivery lost 0.47%, or 8.20, to hit $1.00 a troy ounce. In other commodities, WTI October futures rose 0.99%, or 0.81, to $82.75 a barrel. Brent oil futures for November delivery rose 0.59%, or 0.52, to $88.52 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained unchanged, 0.01% to 1.00, while USD/JPY was up 0.25% to hit 144.05.

Futures on the USD index fell 0.17% to 109.65.

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EUR/USD: price tug of war continues

The US and European currencies remain in the stage of confrontation, intensely competing with each other. However, the euro often loses in this race, periodically losing to the stronger dollar. Against this background, analysts expect parity in the EUR/USD pair to be maintained in the short and medium term planning horizons.

The euro jumped at the beginning of the new week, rising slightly thanks to the European Central Bank's hawkish signals. The euro reached a three-week high against the US currency, as representatives of the ECB decided to stick to an aggressive tightening of monetary policy.

Recall that following the results of the next meeting, the ECB raised its key rate to a record 75 bps. These are quite decisive actions taken after the July rate hike by 50 bps, etc. Such a move was included in the debt market quotes, so it did not come as a surprise. According to analysts, the hawkish tone of the central bank provided significant support to the single currency, although this did not save it from another fall below the parity level. The EUR/USD pair was trading at 1.0088 on Monday morning, September 12, partly recouping previous losses.

According to ECB President Christine Lagarde, "a weak euro spurs inflation." Against this background, more drastic steps in the process of raising the rate are acceptable in the near future. Representatives of the central bank also noted that its next rises are possible at the next five meetings. In addition, the next two official events will end with an increase in rates, according to the department.

Against this background, the US currency plunged slightly against the European one in anticipation of reports on the US inflation rate (CPI). On Tuesday, September 13, markets will focus on data on annual US inflation. According to preliminary forecasts, in August, the growth of consumer prices in the United States will show a slowdown for the second consecutive month (from the current 8.5% to 8.1%). At the same time, investors and traders expect that in September the Federal Reserve will raise the discount rate by another 75 bps. This opinion is held by 90% of analysts, and the remaining 10% expect a rate increase to 50 bps.

Some experts consider the deterioration of the August CPI indicators in the United States to be one of the potential risks of a decline in the greenback. According to analysts, another weak macroeconomic report casts doubt on market expectations for a third consecutive rate hike of 75 bps. However, some experts are optimistic. Wells Fargo currency strategists believe that despite the aggressive pace of tightening of the monetary policy by a number of central banks, the Fed will remain the leader in this matter. Against this background, it is quite possible to strengthen the USD until the end of 2022, analysts say.

A similar position is held by Larry Summers, a former US Treasury Secretary and current professor at Harvard University. He believes that the greenback has excellent chances for further strengthening. At the same time, the specialist takes into account a number of fundamental factors contributing to the growth of the latter. According to Summers, America has a "huge advantage": it does not depend on "extremely expensive foreign energy carriers." An additional advantage is the fact that the Fed is moving towards tightening monetary policy faster than other central banks. "This allows the dollar to remain a safe haven currency, and the United States - a Mecca for capital. As a result, all the financial resources of the world flow into USD," Summers sums up. In such a situation, many experts expect the greenback to strengthen in the medium and long term.

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US stocks closed higher, Dow Jones up 0.71%

At the close in the New York Stock Exchange, the Dow Jones rose 0.71%, the S&P 500 index rose 1.06%, the NASDAQ Composite index rose 1.27%.

The leading performer among the components of the Dow Jones index today was Apple Inc, which gained 6.06 points or 3.85% to close at 163.43. Quotes of American Express Company rose by 4.01 points (2.53%), closing the session at 162.45. Salesforce Inc rose 3.04 points or 1.87% to close at 165.63.

The biggest losers were Amgen Inc, which shed 10.07 points or 4.07% to end the session at 237.62. Home Depot Inc was up 2.23 points (0.74%) to close at 297.54, while Johnson & Johnson was down 0.07 points (0.04%) to end at 165. .64.

Leading gainers among the S&P 500 index components in today's trading were DXC Technology Co, which rose 5.98% to hit 28.36, APA Corporation, which gained 5.01% to close at 40.00, and shares of Fortinet Inc, which rose 4.20% to end the session at 55.84.

The biggest losers were The Mosaic Company, which shed 6.76% to close at 52.44. Shares of Amgen Inc lost 4.07% to end the session at 237.62. Quotes of CF Industries Holdings Inc decreased in price by 4.05% to 99.48.

Leading gainers among the components of the NASDAQ Composite in today's trading were Neurobo Pharmaceuticals Inc, which rose 101.30% to hit 0.56, InMed Pharmaceuticals Inc, which gained 70.42% to close at 18.78, and also shares of Ventyx Biosciences Inc, which rose 64.98% to end the session at 38.11.

The biggest losers were Tuesday Morning Corp, which shed 31.19% to close at 0.19. Shares of WeTrade Group Inc lost 30.19% and ended the session at 1.11. Akari Therapeutics PLC was down 27.88% to 0.75.

On the New York Stock Exchange, the number of securities that rose in price (2,360) exceeded the number of those that closed in the red (764), while quotes of 160 shares remained virtually unchanged. On the NASDAQ stock exchange, 2431 companies rose in price, 1384 fell, and 259 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 4.74% to 23.87.

Gold futures for December delivery added 0.43%, or 7.45, to $1.00 a troy ounce. In other commodities, WTI crude for October delivery rose 1.36%, or 1.18, to $87.97 a barrel. Brent oil futures for November delivery rose 1.44%, or 1.34, to $94.18 a barrel.

Meanwhile, on the Forex market, EUR/USD rose 0.81% to hit 1.01, while USD/JPY edged up 0.21% to hit 142.82.

Futures on the USD index fell 0.60% to 108.08.

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US stocks closed lower, Dow Jones down 3.94%

At the close on the New York Stock Exchange, the Dow Jones fell 3.94% to a one-month low, the S&P 500 fell 4.32%, and the NASDAQ Composite fell 5.16%.

Chevron Corp was the top gainer among the components of the Dow Jones index today, losing 3.09 points or 1.90% to close at 159.41. Quotes of The Travelers Companies Inc fell by 3.11 points (1.88%) to end trading at 162.22. Walmart Inc lost 2.85 points or 2.06% to close at 135.22.

The losers were Boeing Co shares, which lost 11.41 points or 7.19% to end the session at 147.31. Intel Corporation was up 2.27 points (7.19%) to close at 29.29, while Home Depot Inc was down 19.61 points (6.59%) to close at 277. 93.

Leading gainers among the S&P 500 index components in today's trading were Corteva Inc, which rose 0.87% to hit 62.65, Twitter Inc, which gained 0.70% to close at 41.70, and shares CF Industries Holdings Inc, which rose 0.67% to end the session at 100.15.

The biggest losers were Eastman Chemical Company, which shed 11.34% to close at 84.11. Shares of NVIDIA Corporation lost 9.47% and ended the session at 131.31. Quotes of Meta Platforms Inc decreased in price by 9.37% to 153.13.

Leading gainers among the components of the NASDAQ Composite in today's trading were Akero Therapeutics Inc, which rose 136.76% to hit 29.05, Aditx Therapeutics Inc, which gained 113.75% to close at 0.37, and also shares of Comera Life Sciences Holdings Inc, which rose 100.00% to end the session at 3.86.

The biggest losers were Cardiff Oncology Inc, which shed 41.12% to close at 1.89. Shares of Rent the Runway Inc shed 38.74% to end the session at 3.02. Quotes of InMed Pharmaceuticals Inc decreased in price by 35.73% to 12.07.

On the New York Stock Exchange, the number of securities that fell in price (2827) exceeded the number of those that closed in positive territory (354), while quotes of 82 shares remained virtually unchanged. On the NASDAQ stock exchange, 3,015 stocks fell, 811 rose, and 188 remained at the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 14.24% to 27.27, hitting a new monthly high.

Gold futures for December delivery lost 1.64%, or 28.50, to hit $1.00 a troy ounce. In other commodities, WTI October futures fell 0.26%, or 0.23, to $87.55 a barrel. Brent oil futures for November delivery fell 0.67%, or 0.63, to $93.37 a barrel.

Meanwhile, on the Forex market, EUR/USD fell 1.44% to hit 1.00, while USD/JPY edged up 1.23% to hit 144.59.

Futures on the USD index rose 1.37% to 109.58.

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US stock market closes higher, Dow Jones gains 0.10%

At the close in the New York Stock Exchange, the Dow Jones rose 0.10%, the S&P 500 rose 0.34%, and the NASDAQ Composite rose 0.74%.

Chevron Corp was the top gainer among the components of the Dow Jones index today, up 3.86 points or 2.42% to close at 163.27. Quotes Johnson & Johnson rose by 3.33 points (2.06%), ending trading at 164.66. Merck & Company Inc rose 1.36 points or 1.59% to close at 86.95.

The losers were shares of Honeywell International Inc, which lost 5.01 points or 2.71% to end the session at 179.97. 3M Company was up 2.44% or 2.94 points to close at 117.53, while Dow Inc was down 1.67% or 0.80 points to close at 47.07. .

Leading gainers among the S&P 500 components in today's trading were Coterra Energy Inc, which rose 7.22% to hit 32.23, APA Corporation, which gained 6.72% to close at 41.74, and shares of Moderna Inc, which rose 6.17% to end the session at 139.40.

The biggest losers were Nucor Corp, which shed 11.31% to close at 120.71. Shares of Centene Corp lost 6.79% to end the session at 83.92. Quotes of DISH Network Corporation decreased in price by 6.27% to 17.18.

Leading gainers among the components of the NASDAQ Composite in today's trading were Avenue Therapeutics Inc, which rose 53.87% to hit 0.36, Aileron Therapeutics Inc, which gained 38.49% to close at 0.27, and also shares of Dawson Geophysical Company, which rose 41.44% to close the session at 1.57.

The biggest losers were Neurobo Pharmaceuticals Inc, which shed 43.61% to close at 16.86. Shares of Vintage Wine Estates Inc shed 40.33% to end the session at 3.30. Quotes of Aditx Therapeutics Inc decreased in price by 38.22% to 11.43.

On the New York Stock Exchange, the number of securities that rose in price (1,578) exceeded the number of those that closed in the red (1,506), while quotes of 124 shares remained virtually unchanged. On the NASDAQ stock exchange, 1,956 stocks fell, 1,770 rose, and 254 remained at the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 4.07% to 26.16.

Gold futures for December delivery lost 0.63%, or 10.90, to hit $1.00 a troy ounce. In other commodities, WTI October futures rose 1.68%, or 1.47, to $88.78 a barrel. Brent oil futures for November delivery rose 1.23%, or 1.15, to $94.32 a barrel.

Meanwhile, in the forex market, the EUR/USD pair was unchanged 0.08% to 1.00, while USD/JPY fell 0.97% to hit 143.15.

Futures on the USD index fell 0.15% to 109.36.

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US stocks closed lower, Dow Jones down 0.56%

At the close of the New York Stock Exchange, the Dow Jones fell 0.56% to a one-month low, the S&P 500 fell 1.13% and the NASDAQ Composite fell 1.43%.

UnitedHealth Group Incorporated was the top performer in the Dow Jones Index today, up 13.14 points or 2.58% to close at 522.91. JPMorgan Chase & Co rose 1.75 points or 1.51% to close at 117.87. Goldman Sachs Group Inc rose 4.36 points or 1.33% to close at 331.62.

The losers were Salesforce Inc, which shed 5.50 points or 3.43% to end the session at 154.78. Microsoft Corporation was up 2.71% or 6.84 points to close at 245.38, while Visa Inc Class A was down 2.03% or 4.04 points to close at 195. .37.

Leading gainers among the S&P 500 index components in today's trading were Humana Inc, which rose 8.37% to 497.24, Wynn Resorts Limited, which gained 7.48% to close at 65.23, and shares of Paramount Global Class B, which rose 5.16% to close the session at 23.05.

The losers were Adobe Systems Incorporated, which shed 16.79% to close at 309.13. Shares of Albemarle Corp shed 6.49% to end the session at 286.75. West Pharmaceutical Services Inc lost 5.91% to 273.63.

Leading gainers among the components of the NASDAQ Composite in today's trading were Heartbeam Inc, which rose 85.60% to hit 2.32, Neurobo Pharmaceuticals Inc, which gained 47.21% to close at 24.82, and shares of Nabriva Therapeutics AG, which rose 40.65% to end the session at 0.27.

The drop leaders were Shuttle Pharmaceuticals Inc, which shed 55.65% to close at 16.63. Shares of Eloxx Pharmaceuticals Inc lost 40.97% to end the session at 0.22. Quotes Color Star Technology Co Ltd fell in price by 39.54% to 0.07.

On the New York Stock Exchange, the number of securities that fell in price (2188) exceeded the number of those that closed in positive territory (909), and quotes of 125 shares remained virtually unchanged. On the NASDAQ stock exchange, 1991 stocks fell, 1759 rose, and 265 remained at the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 0.42% to 26.27.

Gold futures for December delivery lost 2.08%, or 35.55, to hit $1.00 a troy ounce. In other commodities, WTI October futures fell 3.84%, or 3.40, to $85.08 a barrel. Brent oil futures for November delivery fell 3.56%, or 3.35, to $90.75 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair was unchanged 0.20% to 1.00, while USD/JPY was up 0.23% to hit 143.48.

Futures on the USD index rose by 0.06% to 109.44.

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US stocks closed lower, Dow Jones down 0.45%

At the close on the New York Stock Exchange, the Dow Jones fell 0.45% to hit a monthly low, the S&P 500 index fell 0.72%, and the NASDAQ Composite index fell 0.90%.

The leading performer among the components of the Dow Jones index today was Home Depot Inc, which gained 4.43 points (1.63%) to close at 275.97. Amgen Inc rose 3.48 points or 1.53% to close at 231.14. Johnson & Johnson rose 2.52 points or 1.53% to close at 167.60.

The losers were Boeing Co shares, which fell 5.49 points or 3.67% to end the session at 144.29. Chevron Corp was up 2.60% or 4.17 points to close at 156.45, while Walt Disney Company was down 2.28% or 2.52 points to close at 108. 25.

Leading gainers among the S&P 500 index components in today's trading were Iron Mountain Incorporated, which rose 3.35% to hit 55.29, Newmont Goldcorp Corp, which gained 3.09% to close at 43.71, and also Dollar Tree Inc, which rose 2.89% to end the session at 141.92.

The biggest losers were FedEx Corporation, which shed 21.40% to close at 161.02. Shares of WestRock Co lost 11.48% to end the session at 34.15. Quotes of International Paper fell in price by 11.21% to 35.23.

Leading gainers among the components of the NASDAQ Composite in today's trading were Panbela Therapeutics Inc, which rose 53.06% to hit 0.58, Applied Opt, which gained 50.40% to close at 3.76, and shares of Axcella Health Inc, which rose 29.57% to end the session at 2.41.

The biggest losers were Aditx Therapeutics Inc, which shed 58.52% to close at 4.31. Shares of Esports Entertainment Group Inc lost 46.15% and ended the session at 0.18. Shuttle Pharmaceuticals Inc lost 45.94% to 8.99.

On the New York Stock Exchange, the number of securities that fell in price (2294) exceeded the number of those that closed in positive territory (816), and quotes of 121 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,586 stocks fell, 1,158 rose, and 233 remained at the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 0.11% to 26.30.

Gold Futures for December delivery added 0.38%, or 6.35, to hit $1.00 a troy ounce. In other commodities, WTI October futures rose 0.29%, or 0.25, to $85.35 a barrel. Brent oil futures for November delivery rose 0.81%, or 0.74, to $91.58 a barrel.

Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.10% to 1.00, while USD/JPY fell 0.40% to hit 142.95.

Futures on the USD index fell 0.02% to 109.43.

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Wave your hand to the yen: the dollar is preparing to take off

This week, traders' nerves are stretched to the limit. Everyone is waiting for the Fed's verdict on interest rates and the next jump in the dollar. According to forecasts, it will grow the most against the yen. The divergence in the monetary policy of the US Federal Reserve and the Bank of Japan was the main reason for the weakening of the yen this year.

Due to the large difference in interest rates, the JPY has fallen by more than 20% against the dollar since January. This is the strongest annual decline in the Japanese currency in the entire history of observations.

Nevertheless, many analysts believe that the yen has not yet reached the bottom. Since everything now points to a further increase in monetary divergence, new anti-records are predicted for the yen.

According to experts, the JPY may test another 24-year low against the dollar in the coming days. Two factors will contribute to the sharp fall of the yen.

Firstly, this is the fifth increase in interest rates in America this year. And secondly, the BOJ's confirmation of its depth of strategy.

The degree of nervousness is increased by the fact that the Fed and the BOJ will announce their decisions on interest rates with a difference of only a few hours.

In light of the latest US inflation data, which turned out to be worse than forecasts, the market expects the Fed to raise the indicator by 75 or 100 bps.

Such a hawkish scenario can provide a powerful momentum for the dollar and a strong tailwind for the USD/JPY pair. And the speech of the head of the BOJ will disperse the asset even more.

Goldman Sachs analysts are confident that this week BOJ Governor Haruhiko Kuroda will again leave all the parameters of the monetary policy unchanged: yield curve control, asset purchase program and interest rate recommendations.

According to experts, the BOJ is unlikely to get off its dovish route, even despite signs of increased price pressure.

Statistics on inflation in Japan for August were released this morning. As the report showed, the core consumer price index exceeded the growth forecast on an annualized basis and reached 2.8%.

Thus, inflation in the country exceeded the BOJ's target, which is at the level of 2%, for the past five consecutive months.

This significantly increases concerns that the price pressure may last much longer than the BOJ expects. But it is not worth speculating about the possible capitulation of the BOJ yet.

The news about the acceleration of inflation on the eve of the next meeting of the Japanese central bank really puts Kuroda in a difficult position.

He will have to try hard to give a logical explanation for the need to continue monetary incentives when price growth has significantly overtaken the 2% target.

However, it is unlikely that the current inflation, which remains relatively low compared to other countries, will force the head of the BOJ to change shoes abruptly.

Earlier, Kuroda has repeatedly stated that the central bank will keep interest rates at extremely low levels until solid wage growth makes inflation more stable.

The firm determination of Japanese politicians to adhere to the dovish strategy is also evidenced by today's decision of the government.

On Tuesday, Japan's finance ministry said it would spend 3.48 trillion yen ($24 billion) from budget reserves to cope with the continued price increases.

The decision was made at a meeting of the cabinet of Prime Minister Fumio Kishida, whose approval rating has recently dropped significantly.

In order to regain the favor of the Japanese suffering from the rising cost of living, the official is ready to provide a new package of financial assistance, i.e. to eliminate the symptom, not the cause of the disease.

As you can see, Japan is not going to deploy an anti-inflationary company yet, as other countries do. However, the status of an outsider does not bode well for its national currency.

The US Fed is not the only one who is going to raise interest rates this week, but also the Bank of England and the Swiss National Bank. This will further aggravate the situation of the yen, analysts believe.

But the main beneficiary of the isolated BOJ position will still be the USD/JPY pair. According to forecasts, it will break through the key threshold of 145 if the Fed's actions turn out to be even more hawkish this time.

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US stock market closed lower, Dow Jones down 1.01%

At the close of the New York Stock Exchange, the Dow Jones fell 1.01% to a one-month low, the S&P 500 index fell 1.13%, and the NASDAQ Composite fell 0.95%. The leading performer among the components of the Dow Jones index today was Apple Inc, which gained 2.42 points (1.57%) to close at 156.90. Quotes Boeing Co rose by 1.06 points (0.73%), ending trading at 145.94. 3M Company lost 0.12 points or 0.10% to close at 116.52.

The biggest losers were Nike Inc, which shed 4.79 points or 4.47% to end the session at 102.42. Caterpillar Inc was up 2.26% or 4.12 points to close at 177.99, while Home Depot Inc was down 2.23% or 6.25 points to close at 274. 17.

Leading gainers among the components of the S&P 500 in today's trading were Wynn Resorts Limited, which rose 2.90% to hit 67.80, Valero Energy Corporation, which gained 2.63% to close at 107.42, and also shares of Expedia Inc, which rose 2.09% to end the session at 104.63.

The fallers were shares of Ford Motor Company, which fell 12.32% to close at 13.09. Shares of Iron Mountain Incorporated shed 9.84% to end the session at 50.65. Quotes of Generac Holdings Inc decreased in price by 6.99% to 183.49.

The leading gainers among the components of the NASDAQ Composite in today's trading were Sobr Safe Inc, which rose 234.98% to 3.05, Powerbridge Technologies Co Ltd, which gained 60.62% to close at 2.20. as well as Neurobo Pharmaceuticals Inc, which rose 42.40% to end the session at 20.79.

The biggest losers were Virios Therapeutics Llc, which shed 75.50% to close at 0.49. Pagaya shares shed 67.24% to end the session at 2.29. Quotes of Integrated Media Technology Ltd decreased in price by 46.07% to 1.03.

On the New York Stock Exchange, the number of securities that fell in price (2599) exceeded the number of those that closed in positive territory (546), while quotes of 129 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,705 companies fell in price, 1,091 rose, and 227 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 5.43% to 27.16.

Gold futures for December delivery shed 0.29% or 4.80 to hit $1.00 a troy ounce. In other commodities, WTI crude for November delivery fell 1.19%, or 1.02, to $84.34 a barrel. Brent oil futures for November delivery fell 1.14%, or 1.05, to $90.95 a barrel.

Meanwhile, in the Forex market, EUR/USD was flat at 0.49% at 1.00, while USD/JPY edged up 0.35% to hit 143.71.

Futures on the USD index rose 0.39% to 109.89.

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BTC quotes unexpectedly turned to growth

Bitcoin began to rise on Wednesday morning, when this article was written, its price had reached $19,123.

According to virtual asset price tracking website CoinMarketCap, over the past 24 hours, the highest value of bitcoin reached $19,548, and the lowest was $18,813.

As a result of the past 24 hours, the price of bitcoin rose by 2.8% and closed the session at about $19,000.

Over the past seven days, bitcoin has fallen in price by 16%. The main reason for the confident decline of the first cryptocurrency in recent days, experts call a protracted fall in key US stock indices, as well as fresh data from the US Department of Labor, according to which the August inflation rate in the country decreased to only 8.3% from 8.5% in July.

The results of the September meeting of the US Federal Reserve on the next increase in the key interest rate will be made public on Wednesday. During this meeting, the central bank carefully assessed the final inflation rate. Analysts are sure that amid a slight decrease in the consumer price index, the US central bank will not refuse another rate hike by 75 basis points. So, last week, Fed Chairman Jerome Powell announced the central bank's readiness to "act decisively" in order to combat record levels of consumer prices in the country.

To date, approximately 82% of the market is confident that the Fed will increase the base interest rate by 75 basis points. At the same time, 18% is set aside for a possible rate increase of 100 basis points. As a result, the central bank's interest rate could rise to 300-325 bps or 325-350 bps, respectively.

Recall that in March 2022, the US central bank already raised its key rate by 25 basis points, in May - by 50, and in June - by 75.

By the way, recently experts from the analytical company Kaiko reported that the volatility of BTC significantly depends on the results of the meetings of the Fed.

According to analysts from Kaiko, a high correlation of bitcoin with the decisions of the Fed was recorded in the summer of 2021, which indicates that the cryptocurrency market has long been influenced by key macroeconomic indicators.

So, when in May 2022 the Fed increased the rate range to 0.75-1% per annum, the cost of the first cryptocurrency sharply overcame the level of $40,000, but on the same day it fell below $36,000, starting the process of a protracted correction.

In June this year, when the US central bank raised its key rate to 1.5-1.75%, bitcoin immediately reacted with spectacular growth.

Experts are confident that in the coming months, the digital asset market will respond even more strongly to the speeches of world central banks, because often, an increase in the interest rate dramatically reduces the ability of investors to invest in risky assets such as virtual currency.

The weak results of the last trading session on the US stock market also became an important factor in pressure on the BTC on Wednesday. So, on Tuesday, the Dow Jones Industrial Average fell 1.01%, the S&P 500 plunged 1.13%, and the NASDAQ Composite fell 0.95%.

Since the beginning of 2022, analysts have increasingly begun to emphasize the high level of correlation between the US securities market and virtual assets amid intense anticipation by both of the consequences of the geopolitical conflict in Eastern Europe and further steps by the Fed.

Earlier, experts from the investment company Arcane Research have already stated that the correlation of BTC and technology securities has reached its peak since July 2020.

The current situation looks rather ironic, because since the advent of cryptocurrency, it has been positioned as the main tool for protecting against inflation and price volatility in traditional markets. However, in recent months, digital assets have been increasingly correlated with stock markets, which casts doubt on the success of virtual coins.

Altcoin Market

Ethereum, the main competitor of bitcoin, also started the trading session on Wednesday with a rise and by the time of this writing it has reached $1,343.

Over the past seven days, the value of the altcoin has fallen by 17%. At the same time, the key reason for such a sharp drop in ETH was the most long-awaited event of the current year for cryptocurrency fans.

So, on the morning of September 15, the Ethereum network successfully migrated from the Proof-of-Work (PoW) algorithm to Proof-of-Stake (PoS), which does not require mining. The migration happened as part of a major update to The Merge.

At first, the quotes of bitcoin's main competitor reacted to positive news with growth, but later fell sharply by 8.2%.

As for cryptocurrencies from the top 10 by capitalization, within the past 24 hours, the best results were recorded by XRP (+8.05%), and the worst by BTC (-2.8%).

According to the results of the past week, in the top ten of the strongest digital assets, the fall list was headed by the Ethereum cryptocurrency (-15.60%), and the highest results were recorded by XRP (+22.06%).

According to CoinGecko, the world's largest virtual asset data aggregator, Cosmos (-9.87%) took the first place in the drop list among the top 100 most capitalized digital assets over the past 24 hours (-9.87%).

According to the results of the past week, the digital asset Ravencoin (-39.14%) showed the worst results among the top hundred strongest digital assets.

In the past 24 hours, the total market capitalization of cryptocurrencies has dropped to $920 billion, according to CoinGecko.

Since last November, when this figure exceeded the $3 trillion mark, it has more than tripled.

Crypto Expert Predictions

The unpredictable behavior of the digital coin market forces analysts to make the most unexpected predictions about its future. The CEO of Dogifox Nicholas Merten said that BTC is waiting for a collapse to $14,000.

The crypto expert came to this conclusion due to technical and macroeconomic factors. So, Merten is sure, the recent exchange rate movement of digital gold may signal the end of a 10-year bullish cycle, after which the coin will cease to be a key asset compared to other commodities and stocks.

An important macroeconomic incentive to reduce the cost of the first cryptocurrency, the crypto expert believes, may also be the Fed's decision. Despite the potential dangers for the global economy, the US central bank is likely to continue raising interest rates until the record inflation is completely defeated.

The combination of all the above technical and macroeconomic factors, the Dogifox CEO believes, will soon push bitcoin to the price bottom at $14,000. If the coin collapses to these values, its correction will be 80% of the historical record of $69,000.

As for the near future of bitcoin's main competitor, the altcoin Ethereum, Merten suggests that the cryptocurrency will retest the $800-$1,000 range, and in the worst case, quotes will fall even lower.

However, there are those who hold more positive views regarding the future of key players in the cryptocurrency market. So, recently the former top manager of the financial conglomerate Goldman Sachs, and now the CEO of Real Vision, Raoul Pal, said that digital assets will grow steadily in the coming year.

The analyst explains his optimism about the cryptocurrency market in the long term by the global economic crisis and the merger of Ethereum.

So, Pal is sure that against the background of ETH migration to the Proof-of-Stake algorithm, miners who sell altcoins every day will leave the market. As a result, there will be a decrease in the volume of offers and $6 billion in Ethereum will disappear from monthly sales. In this case, the main competitor of bitcoin will be less prone to inflation.

In addition, the CEO of Real Vision believes that, thanks to the constantly growing demand, the decrease in the supply of ETH and the environmental problems of BTC, 2023 can be very successful for Ethereum.

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US stocks closed lower, Dow Jones down 0.35%

At the close of the New York Stock Exchange, the Dow Jones fell 0.35% to a 3-month low, the S&P 500 fell 0.84%, and the NASDAQ Composite fell 1.37%.

Merck & Company Inc was the top performer among the components of the Dow Jones in today's trading, up 2.98 points or 3.53% to close at 87.51. Quotes Johnson & Johnson rose by 2.90 points (1.78%), ending trading at 166.18. Salesforce Inc rose 2.52 points or 1.71% to close at 150.15.

Shares of American Express Company were the leaders of the fall, the price of which fell by 5.68 points (3.82%), ending the session at 143.03. Boeing Co was up 3.20% or 4.58 points to close at 138.71, while Goldman Sachs Group Inc was down 2.43% or 7.79 points to close at 312. .92.

Among the S&P 500 index components gainers today were Eli Lilly and Company, which rose 4.85% to 310.87, Merck & Company Inc, which gained 3.53% to close at 87.51. , as well as shares of Bristol-Myers Squibb Company, which rose 2.63% to end the session at 71.29.

The biggest losers were Caesars Entertainment Corporation, which shed 9.44% to close at 37.62. Shares of Ball Corporation lost 8.66% to end the session at 49.23. FactSet Research Systems Inc dropped 8.29% to 394.75.

Leading gainers among the components of the NASDAQ Composite in today's trading were Spero Therapeutics Inc, which rose 167.74% to hit 2.20, Avenue Therapeutics Inc, which gained 105.90% to close at 0.44, and also shares of Panbela Therapeutics Inc, which rose 46.39% to end the session at 0.35.

Top Ships Inc. was the biggest loser, shedding 44.06% to close at 0.12. Shares of Ecmoho Ltd lost 42.72% and ended the session at 0.10. Quotes of Pintec Technology Holdings Ltd decreased in price by 28.80% to 0.42.

On the New York Stock Exchange, the number of securities that fell in price (2596) exceeded the number of those that closed in positive territory (546), while quotes of 120 shares remained virtually unchanged. On the NASDAQ stock exchange, 3,011 stocks fell, 765 rose, and 257 remained at the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 2.29% to 27.35.

Gold futures for December delivery added 0.24%, or 4.00, to $1.00 a troy ounce. In other commodities, WTI crude for November delivery rose 0.54%, or 0.45, to $83.39 a barrel. Brent oil futures for November delivery rose 0.50%, or 0.45, to $90.28 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.04% to 0.98, while USD/JPY fell 1.14% to hit 142.40.

Futures on the USD index rose by 0.65% to 111.07.

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GBP/USD. The pound is on the path of a great crisis. Will there be parity?

How low can the exchange rate fall? Will the Bank of England take measures to support the pound? At the end of last week, bearish positions on the British pound sharply intensified. Traders seem to have tried to resist such a powerful downward movement until the last moment, but it did not work out. Events are developing in such a way that the pound in the future can not only update distant historical lows, but also risks setting a new anti-record. The BoE's decision on the rate and the announcement of the interim budget, to put it mildly, did not impress the markets. The central bank raised the rate by only 50 bps, accumulating a backlog from the Federal Reserve. The new economic plan failed to allay investors' concerns about the approaching recession in the country. The collapsed economic indicators were also another reason for short positions. The GfK consumer confidence indicator plunged to -49 from -41, updating the historical record. The last time such figures could be seen was in 1974. The CBI retail activity indicator fell to -20 in September from 37 in August. Preliminary PMI estimates could not act as a kind of reassurance for the market. The composite index fell to 48.4 from 49.6 due to the deterioration in the service sector, where the corresponding indicator fell to 49.2 from 50.9. At first, the GBP/USD pair fell to the area of 1.1020, which is the low since 1985. Then shorts intensified and the quote easily broke down the 1.0900 mark.

Since the beginning of the year, GBP/USD has lost approximately 20%. Given inflation of 10%, nervousness should be not only among market players, but primarily among the government and the BoE. If officials do step up their efforts to maintain the pound, volatility in the foreign exchange market risks being prohibitive or getting out of control.

What's Wrong with Government Measures?

The pound was mostly brought down by new government measures. The authorities have announced significant tax cuts since 1972 in an attempt to push the country's economic growth to 2.5%.

At least some, but actions and in theory, and even according to the government's plan, it was supposed to support the mood. However, investors have their own vision of the situation and they did not believe that the British authorities, led by Liz Truss, would be able to finance these measures without hindrance.

Radical changes to the tax code imply a reduction in the basic income tax rate from 20p to 19p from April 2023. The highest income tax rate has been reduced from 45p to 40p, while the increase in national insurance contributions this year will be canceled in November.

In addition, the planned increase in corporate tax has been postponed indefinitely. At the same time, Brits buying housing for the first time will be able to see a noticeable weakening of the state fee. The cost of all the announced tax cuts, according to the authorities, is 45 billion pounds.

At the same time, the government's decision to limit electricity bills will cost much more, approximately 130 billion pounds.

In general, this means that the British government will need to borrow more, increasing the supply of gold on the market.

What will Happen to the Pound?

The panic selling of the pound made many think about the future prospects of the British currency. What is it: a temporary turbidity and an excessively strong and completely unreasonable reaction of worried investors, or is the pound really on the path of a great crisis? Will there be parity with the dollar for the first time in history?

Indeed, the pound is now under the strongest pressure, including due to the incessant advance of the dollar. The fall of the pound coincides with the time when there was a significant sell-off on world markets. Even in normal times, this creates obstacles for the national currency of Britain.

Parity with the dollar is considered by analysts as an extreme measure, which is still far from reality. At the same time, new record lows are quite possible.

It is unlikely that government measures will lead to a collapse of the pound or create problems when selling gold coins.

"Given that the economy is flirting with recession, tax cuts supporting demand are not necessarily a bad idea. But this tax cut should be permanent, not temporary," Oxford Economics believes.

The pound is expected to continue to decline to about 1.0500 against the dollar in the short term. Meanwhile, the BoE will have no choice but to raise the size of the rate hike. At the November meeting, the central bank should increase the rate by 75 bps. Thus, the markets will raise the forecast for the maximum bank rate from 3% to 4%.

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US stocks closed lower, Dow Jones down 1.11%

At the close in the New York Stock Exchange, the Dow Jones fell 1.11% to hit a 52-week low, the S&P 500 fell 1.03%, and the NASDAQ Composite fell 0.60%.

Walmart Inc was the top gainer among the components of the Dow Jones index today, up 1.25 points (0.96%) to close at 131.31. Apple Inc rose 0.34 points (0.23%) to close at 150.77. Procter & Gamble Company rose 0.13 points or 0.10% to close at 135.71.

The biggest losers were The Travelers Companies Inc, which shed 4.88 points or 3.14% to end the session at 150.60. Boeing Co was up 2.99% or 3.92 points to close at 127.34, while Chevron Corp was down 2.63% or 3.81 points to close at 140.96. .

Leading gainers among the components of the S&P 500 in today's trading were Wynn Resorts Limited, which rose 11.99% to 66.80, Las Vegas Sands Corp, which gained 11.81% to close at 39.66. as well as Costco Wholesale Corp, which rose 2.98% to end the session at 480.30.

The losers were DISH Network Corporation, which shed 6.12% to close at 14.27. Shares of The AES Corporation shed 5.48% to end the session at 22.96. Quotes of Halliburton Company decreased in price by 5.17% to 23.31.

Leading gainers among the components of the NASDAQ Composite in today's trading were LAVA Therapeutics NV, which rose 97.50% to 4.74, DIRTT Environmental Solutions Ltd, which gained 42.87% to close at 0.45. as well as shares of Panbela Therapeutics Inc, which rose 25.96% to close the session at 0.34.

The biggest losers were Powerbridge Technologies Co Ltd, which shed 68.57% to close at 0.50. Shares of Scienjoy Holding Corp lost 43.77% to end the session at 1.67. Quotes of Snow Lake Resources Ltd fell in price by 40.88% to 1.88.

On the New York Stock Exchange, the number of securities that fell in price (2652) exceeded the number of those that closed in positive territory (536), while quotes of 132 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,592 stocks fell, 1,248 rose, and 275 remained at the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 7.82% to 32.26, hitting a new 3-month high.

Gold futures for December delivery lost 1.56%, or 25.90, to hit $1.00 a troy ounce. In other commodities, WTI crude for November delivery fell 2.82%, or 2.22, to $76.52 a barrel. Futures for Brent crude for December delivery fell 2.81%, or 2.39, to $82.64 a barrel.

Meanwhile, in the Forex market, EUR/USD fell 0.84% to hit 0.96, while USD/JPY edged up 0.94% to hit 144.66.

Futures on the USD index rose by 0.98% to 114.07.

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US stock market closed mixed, Dow Jones down 0.43%

At the close of the New York Stock Exchange, the Dow Jones fell 0.43% to hit a 52-week low, the S&P 500 index fell 0.21%, and the NASDAQ Composite index rose 0.25%.

The leading performer among the Dow Jones index components today was Salesforce Inc, which gained 2.57 points or 1.76% to close at 148.89. Quotes Dow Inc rose by 0.40 points (0.92%), ending trading at 43.79. Home Depot Inc rose 0.79% or 2.11 points to close at 268.69.

The losers were shares of McDonald's Corporation, which lost 7.06 points or 2.90% to end the session at 236.70. Procter & Gamble Company was up 2.75% or 3.73 points to close at 131.98 while Coca-Cola Co was down 2.57% or 1.49 points to close at mark 56.38.

Leading gainers among the S&P 500 index components in today's trading were CF Industries Holdings Inc, which rose 6.10% to hit 95.87, Mosaic Company, which gained 4.15% to close at 48.44, and also shares of Royal Caribbean Cruises Ltd, which rose 3.88% to end the session at 45.75.

The biggest losers were Digital Realty Trust Inc, which shed 3.98% to close at 97.73. Shares of Organon & Co shed 3.54% to end the session at 24.26. Quotes of Global Payments Inc decreased in price by 3.39% to 108.02.

Leading gainers among the components of the NASDAQ Composite in today's trading were Avenue Therapeutics Inc, which rose 106.25% to hit 7.26, Scienjoy Holding Corp, which gained 47.90% to close at 2.47, and also shares of X4 Pharmaceuticals Inc, which rose 40.18% to close the session at 1.25.

The drop leaders were NLS Pharmaceutics AG, which shed 25.07% to close at 0.72. Shares of Midatech Pharma PLC ADR lost 20.77% and ended the session at 2.06. Quotes of Fednat Holding Co decreased in price by 18.22% to 0.18.

On the New York Stock Exchange, the number of securities that fell in price (1634) exceeded the number of those that closed in positive territory (1527), while quotes of 136 shares remained virtually unchanged. On the NASDAQ stock exchange, 2048 companies rose in price, 1751 fell, and 295 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 1.05% to 32.60, hitting a new 3-month high.

Gold Futures for December delivery added 0.18%, or 2.95, to $1.00 a troy ounce. In other commodities, WTI crude for November delivery rose 2.29%, or 1.76, to $78.47 a barrel. Futures for Brent crude for December delivery rose 2.35%, or 1.95, to $84.81 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.14% to 0.96, while USD/JPY rose 0.06% to hit 144.84.

Futures on the USD index rose by 0.09% to 114.12.

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USD/JPY: When will Groundhog Day end?

The USD/JPY pair continues to tread in the 144-145 range, in which it has been stuck since the beginning of the week. Consolidation is pretty boring for both bulls and bears, but there is no trigger on the horizon yet.

This year, the Japanese currency has fallen in price relative to its American counterpart by more than 20%. The reason for the weakening of the yen was the strong monetary divergence between the US and Japan.

Last week, the dollar-yen pair set another high-profile record. After the Federal Reserve raised rates again, and the Bank of Japan left the indicator unchanged, the quote jumped to a new 24-year high at 145.90.

The sharp fall of the yen forced the Japanese government to intervene in support of its national currency for the first time since 1998. As a result of the intervention, the USD/JPY pair went into a steep peak. However, the asset did not stay as a loser for long. It only took a couple of days for it to get back on track leading to the main goal for today – level 145.

Since the beginning of this week, the dollar-yen pair has already come close to the cherished mark several times, but each time it rolled back.

According to analysts, the main deterrent for dollar bulls at the moment is the risk of repeated currency intervention.

Given the huge number of warnings from the Japanese authorities, traders still prefer not to get into trouble. However, the situation may change dramatically if a particularly powerful trump card in favor of the dollar appears on the market.

You may ask: isn't it here now? Indeed, the dollar received strong support from the Fed last week. The US central bank not only raised rates, but also made it clear that it intends to tighten its monetary policy in the future.

This week, American politicians have further intensified hawkish rhetoric, which contributed to the explosive growth of the dollar. The greenback has reached a new 20-year high, showing impressive dynamics in almost all directions, but not paired with the yen.

The psychologically important 145 barrier still remains impregnable for the USD/JPY asset. This suggests that the market has already taken into account the further growth of discrepancies in the monetary policy of the Fed and the BOJ.

Now traders need specifics: how big the gap in US and Japanese interest rates can become.

If in the near future American officials again talk about raising the indicator by 100 bps, perhaps this will be the very impetus for the dollar, which will move it from the dead point.

– Of course, the Japanese Ministry of Finance is aware of the current vulnerability of the yen. Probably, the authorities will continue to intimidate traders with interventions to deter speculators, Rabobank analysts warn. – Nevertheless, we are still guided in our 3-month forecast for the USD/JPY pair to the level of 147.

As for the short-term dynamics of the asset, do not expect miracles in the coming days. Most experts believe that the dollar-yen pair will remain in the zone of broad consolidation.

The technical picture for the USD/JPY

200-day exponential moving average at 141.20 scales higher. This indicates that the long-term trend is still stable.

At the same time, the relative strength index (RSI) fluctuates in the range of 40.00-60.00, which indicates that the movement continues within the current range.

For a decisive bearish reversal, the asset needs to fall below the previous week's low at around 140.35.

Dollar bulls may push the pair higher after overcoming the previous week's high at 145.90.

This may lead the quote to the August 1998 high at 147.67. And its breakthrough will send the dollar even further upward – to psychological resistance in the area of 150.00.

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US stock market closed lower, Dow Jones down 1.54%

At the close in the New York Stock Exchange, the Dow Jones fell 1.54%, the S&P 500 fell 2.11% and the NASDAQ Composite fell 2.84%.

The leading gainers among the components of the Dow Jones index today were The Travelers Companies Inc, which gained 1.76 points (1.15%) to close at 154.68. Visa Inc Class A rose 0.88 points or 0.49% to close at 180.06. Merck & Company Inc shed 0.14 points or 0.16% to close at 86.64.

The losers were Boeing Co shares, which lost 8.11 points or 6.08% to end the session at 125.33. Walgreens Boots Alliance Inc was up 4.97% or 1.65 points to close at 31.55 while Apple Inc was down 4.91% or 7.36 points to end at 142. .48.

Among the S&P 500 index components gainers in today's trading were Everest Re Group Ltd, which rose 3.07% to 267.41, STERIS plc, which gained 2.76% to close at 167.29, and also shares of W. R. Berkley Corp, which rose 2.73% to end the session at 65.18.

The biggest losers were CarMax Inc, which shed 24.60% to close at 65.16. Shares of SolarEdge Technologies Inc lost 8.27% to end the session at 235.56. Quotes of Royal Caribbean Cruises Ltd decreased in price by 7.91% to 43.64.

Leading gainers among the components of the NASDAQ Composite in today's trading were Senti Biosciences Inc, which rose 50.71% to hit 2.11, Avalon Globocare Corp, which gained 25.85% to close at 0.70, and also shares of TuanChe ADR, which rose 25.31% to close the session at 3.07.

The biggest losers were Atlis Motor Vehicles Inc, which shed 54.82% to close at 33.95. Shares of Lion Group Holding Ltd lost 49.25% and ended the session at 1.01. Quotes of Twin Vee Powercats Co decreased in price by 29.01% to 2.52.

On the New York Stock Exchange, the number of securities that fell in price (2631) exceeded the number of those that closed in positive territory (530), while quotes of 112 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,842 stocks fell, 956 rose, and 224 remained at the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 5.50% to 31.84.

Gold futures for December delivery lost 0.07%, or 1.20, to hit $1.00 a troy ounce. In other commodities, WTI crude for November delivery fell 0.55%, or 0.45, to $81.70 a barrel. Futures for Brent crude for December delivery fell 0.55%, or 0.48, to $87.57 a barrel.

Meanwhile, in the Forex market, EUR/USD rose 0.70% to hit 0.98, while USD/JPY edged up 0.21% to hit 144.46.

Futures on the USD index fell 0.36% to 112.11.

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US stocks closed lower, Dow Jones down 1.71%

At the close of the New York Stock Exchange, the Dow Jones fell 1.71% to hit a 52-week low, the S&P 500 fell 1.51% and the NASDAQ Composite fell 1.51%.

Shares of UnitedHealth Group Incorporated were among the leaders of gains among the components of the Dow Jones index today, which lost 3.79 points (0.74%) to close at 505.04. Walgreens Boots Alliance Inc fell 0.15 points or 0.48% to close at 31.40. Dow Inc shed 0.23 points or 0.52% to close at 43.93.

The drop leaders were Nike Inc shares, which lost 12.21 points or 12.81% to end the session at 83.12. Boeing Co was up 3.39% or 4.25 points to close at 121.08, while Walt Disney Company was down 3.20% or 3.12 points to close at 94. 33.

Leading gainers among the S&P 500 index components in today's trading were Charles River Laboratories, which rose 3.57% to hit 196.80, Weyerhaeuser Company, which gained 2.92% to close at 28.56, and shares of Twitter Inc, which rose 2.74% to end the session at 43.91.

The losers were shares of Carnival Corporation, which fell 23.31% to close at 7.03. Shares of Norwegian Cruise Line Holdings Ltd lost 18.11% to end the session at 11.35. Quotes of Royal Caribbean Cruises Ltd decreased in price by 13.14% to 37.91.

Leading gainers among the components of the NASDAQ Composite in today's trading were FingerMotion Inc, which rose 82.16% to hit 3.37, SAITECH Global Corp, which gained 43.36% to close at 3.24, and shares of Avenue Therapeutics Inc, which rose 39.03% to end the session at 10.08.

The biggest losers were Atlis Motor Vehicles Inc, which shed 39.91% to close at 20.40. Shares of Aterian Inc lost 37.06% and ended the session at 1.24. Quotes of Edesa Biotech Inc decreased in price by 34.66% to 0.92.

On the New York Stock Exchange, the number of securities that fell in price (1,758) exceeded the number of those that closed in positive territory (1,354), while quotations of 117 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,139 companies fell in price, 1,583 rose, and 228 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.69% to 31.62.

Gold futures for December delivery added 0.11%, or 1.80, to $1.00 a troy ounce. In other commodities, WTI crude for November delivery fell 1.87%, or 1.52, to $79.71 a barrel. Futures for Brent crude for December delivery fell 2.13%, or 1.86, to $85.32 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.08% to 0.98, while USD/JPY advanced 0.23% to hit 144.77.

Futures on the USD index fell 0.09% to 112.10.

News are provided by InstaForex

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USD/JPY: May the force be with you!

Yesterday, bulls again pushed the USD/JPY pair above the key 145 mark, but failed to gain a foothold there. The yen turned out to be a tough nut to crack, which is still too tough for the dollar bulls.

For a penny of ammunition, for a fragment of ambition

Trampling the USD/JPY pair, which lasted all last week, unexpectedly gave way to a decisive upward movement on Monday morning.

Lacking a new fundamental catalyst, the dollar miraculously managed to hit the 145 peak it tested in September again.

Recall that the last time this barrier was captured turned out to be a disaster for the greenback. In response to the strong fall of the yen, the Japanese authorities carried out the first intervention in 24 years to support their national currency.

Having touched a potentially dangerous line, this time the greenback was more cautious and without intervening in the market, it bounced back as if scalded.

This served as yet another confirmation that USD/JPY bulls are still wary of intervention and do not want to draw fire on themselves.

Of course, the dollar still has a strong amulet in its pocket that will almost save it from a steep plunge. We are talking about the growing monetary divergence between the US and Japan.

But the market is well aware that this is no longer enough for the USD to rise. With the Japanese government continuing to threaten to intervene again, the dollar needs a big boost in the form of strong economic data.

A strong US economy will definitely allow the Federal Reserve to satisfy all its hawkish ambitions, and weak macroeconomic statistics, on the contrary, will prevent this.

Recall that at the September meeting, the US central bank raised interest rates by 75 bps and reaffirmed its willingness to raise the rate more aggressively if inflation continues to be high.

Nevertheless, many analysts believe that the 75 bps step is the ceiling for the Fed. The US central bank is unlikely to decide on anything more, given the uneven economic data.

This opinion was supported by the latest index of business activity in the US manufacturing sector. The ISM reported a reading of 50.9 in September, lower than its forecast of 52.2.

After the release of pessimistic statistics, the yield on 10-year US bonds fell by 14 basis points to 3.66%, and the dollar significantly fell.

Flat may drag on

Today's portion of US economic data is also unlikely to please the USD/JPY bulls. Tuesday's key report will be the release of the index of business activity in the services sector from ISM.

Economists forecast a decline in September to 56 compared to the previous value of 56.9.

The data on the index of new orders for the last month may also turn out to be weak. The indicator is expected to fall to 58.9 against 61.8 recorded in August.

Preliminary estimates are putting significant pressure on the dollar-yen this morning as it struggles to break out of the consolidation phase to try again to break through the defenses at the psychologically important 145 mark.

At the time of release, the quote jumped almost 0.2% and traded around 144.80.

The trigger for the asset was a dovish statement by Japanese Prime Minister Fumio Kishida. The day before, the official said that the government will continue to stimulate the economy, while trying to make the most of the weak yen.

The geopolitical factor also provided significant support to the dollar - the escalation of tension between Japan and North Korea.

At the beginning of the day, it was reported that Pyongyang, which had already tested an unprecedented number of missiles this year, had fired another short-range ballistic projectile.

This time, the target of the North Korean military appeared to be the Hokkaido area, which is considered the second largest Japanese island.

In response to the missile launch over Japan, the Hokkaido authorities issued an air raid alert and urged the people of the region to take shelter.

Meanwhile, Japanese Defense Minister Yasukazu Hamada has signaled that Tokyo is considering all options for strengthening its defenses, including a counterattack.

If the conflict between the countries continues to escalate, the Japanese yen may weaken even more. In this case, bulls on the USD/JPY pair will finally have a real chance to settle above the 145 level.

However, we recommend that traders do not force things yet and be patient, especially since most forecasts for the USD/JPY pair point to further movement in the flat.

Most likely, in the coming days, the dollar and the yen will continue to pull the price rope in the 144-145 range.

Technical picture for the USD/JPY pair

The short-term trend is neutral, but has a tendency to the downside. As the quote fell below the 20-, 50- and 100-EMAs yesterday, this could spell further losses.

If the bears manage to take the asset below 144, this will open a fast route to 143.90.

News are provided by InstaForex

Read More https://ifxpr.com/3ycdb7O
 
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