Market Summary

#MarketNews

Good Morning, dear traders! Let's check the news moving the financial markets today:

• El Salvador has implemented tax reform - income tax on foreign investments is reduced from 30% to 0%, regardless of the volume of investments.
•  Oil prices are rising as traders expect strong global demand for raw materials, including from the US, the largest consumer.
• Stock markets are experiencing a "risk reset" as indices set new records.

• In Japan, major companies, including Toyota and Nissan, agreed to significant wage increases, meeting union demands for the biggest pay hikes in decades.

• The ECB's probe into Signa highlights a significant crackdown on property loans, aiming to strengthen bank defenses against real estate market vulnerabilities.

• The Middle East is on the verge of having three wealth funds, each valued at nearly $1 trillion, propelled by significant investments and market performance, particularly from Saudi Arabia and Kuwait.

•  Surging valuations in India's equity market prompt foreign companies to sell stakes in their local units, with seven firms, including Whirlpool Corp. and British American Tobacco, reducing their holdings since June, enhancing public shareholding.

•  Global funds exhibit caution towards Japanese bank stocks, anticipating an interest rate hike by the Bank of Japan but noting market prices already reflect these expectations.

• The UK enhances its green industry collaboration by signing a trade pact with Texas, aiming for mutual benefits in green energy, aerospace, and advanced technologies.

#TradeIdea

USDCHF Outlook!

USDCHF tested the lower border of the bearish flag pattern and a 0.8770 support level. The next movement of the asset may unfold in two possible scenarios:

A rebound of 0.8770 support level will push the asset to the 0.8800 level.
Alternatively, a breach below the 0.8770 support will drop the asset to 0.8740.

XBRUSD Alert!

XBRUSD is moving sideways, and the price has once again reached the upper boundary of the range. Brent has bounced off resistance and is moving down rapidly!

Trade: Sell XBRUSD on a breakout below 83.00
 TP: 81.50