Market News 25/8

Hello, traders! Today is Thursday, usually one of the most volatile days on the forex market, so let’s see what news is important to know for today!✨

🇺🇸Today is the first day of Jackson Hole Symposium!

🇪🇺Fertilizer producers in the EU have begun shutting down plants due to gas prices. It can lead to a critical shortage of products already in winter.

🇯🇵Bank of Japan Governor Kuroda will continue to maintain the ultra-soft monetary policy in recent months even if inflation rises to 3% (above the target of 2%).

🇩🇪Germany's government is concerned about possible problems with the coal supply for power plants in the autumn and winter due to low water levels on the river Rhine and the oil supply in eastern parts of the country.

⛽️On Wednesday, a spike in LNG prices in Asia sent European gas prices up to new levels. Earlier this year, Asian buyers tried not to force gas purchases on the spot, giving up free volumes to Europeans. However, they are faced with forming their gas reserves as winter approaches. Russian Gazprom believes prices could rise to $4 000 per 1 000 cubic meters in winter, setting a new absolute record. Gas prices in the United States are trading under the resistance of 9.65.

🥇XAUUSD breaks above the 50-period moving average. Closest support 1759.00, closest resistance 1769.00.

🚘Tesla shares will start trading at around $300 today, at 16:30 GMT 3 after a 1:3 split. Increased volatility is expected.

🇨🇳Beijing has announced economic stimulus measures as China's economy is hit hard by a downturn in the property sector and a zero-tolerance policy for the virus.
China's State Council and Cabinet have added $44 billion in lending support to their decision banks and government agencies used by Beijing to spur economic growth.

✨Have a fantastic trading day! ✨

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