<p>Headlines:</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/dollar-up-against-the-apex-20220920/“>Dollar up against the apex?</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/bonds-stay-under-pressure-with-the-fed-in-focus-20220920/“>Bonds stay under pressure with the Fed in focus</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/equities-see-bright-start-fade-as-the-push-and-pull-continues-20220920/“>Equities see bright start fade as the push and pull continues</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/germany-august-producer-prices-79-vs-16-mm-expected-20220920/“>Germany August producer prices +7.9% vs +1.6% m/m expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/eurozone-july-current-account-balance-199-billion-vs-42-billion-prior-20220920/“>Eurozone July current account balance -€19.9 billion vs €4.2 billion prior</a></li></ul><p>Markets:</p><ul><li>GBP leads, NZD lags on the day</li><li>European equities lower; S&P 500 futures down 0.4%</li><li>US 10-year yields up 6.2 bps to 3.549%</li><li>Gold down 0.4% to $1,668.43</li><li>WTI crude up 0.1% to $85.80</li><li>Bitcoin down 1.7% to $19,200</li></ul><p style=““ class=“text-align-justify“>The push and pull ahead of the Fed continues as we see the dollar keep a firmer hand on the day while equities saw a decent start vanquished and bond yields continued to push higher in the run up to the central bank bonanza this week.</p><p style=““ class=“text-align-justify“>In terms of data, German producer prices saw a record monthly and yearly increase in August as surging cost pressures continue to build in Europe’s largest economy. That won’t provide much comfort with July’s current account coming in at a major deficit – the widest since the global financial crisis more than a decade ago.</p><p style=““ class=“text-align-justify“>But trading sentiment continues to revolve around the countdown to the FOMC meeting tomorrow with the greenback firming slightly as EUR/USD nudged lower from 1.0030 to 0.9995, though keeping close to parity with a host of large option expiries at the figure level in the coming days.</p><p style=““ class=“text-align-justify“>USD/JPY maintained a slight advance around 143.50-70 levels as bond yields continue to push higher across the board. Meanwhile, the pound is somewhat steady, trading little changed around 1.1430 on the day.</p><p style=““ class=“text-align-justify“>As equities retreated after a bright start, commodity currencies are also dragged lower with USD/CAD inching up towards 1.3300 and AUD/USD running into support near 0.6700 once again. The kiwi is bearing the brunt of the declines with NZD/USD sliding by nearly 1% on the day now close to 0.5900.</p><p style=““ class=“text-align-justify“>Putting it all together, it looks like markets are still unable to find a clear path as we await the Fed decision tomorrow to really provide traders and investors with much more conviction for the second-half of the week.</p>

This article was written by Justin Low at forexlive.com.

<p>Today’s S&P Technical Analysis and Trade Idea</p><p>Attempting to target a Long as price might have pierced (down) the 3900 round number and looks like is back testing a previous price range of a potential accumulation zone.</p><ul><li>1st of 4 buy orders is at 3896. See the video below for the other orders, stop loss and take profit target</li><li>Reward vs risk 1.7x. Target a 2.82% gain on the upside and risk 1.65% on the downside</li><li>Take 50% off the Long position if the target is reached, and raise the stop to the entry </li><li>Watch the S&P technical analysis video below and trade at your own risk</li></ul>

This article was written by Itai Levitan at forexlive.com.

<p style=““ class=“text-align-justify“>The early gains have evaporated and equities have tilted lower in European morning trade. S&P 500 futures are now down 12 points, or 0.3%, holding near the lows for the day while European indices have also nudged lower. The DAX is down 0.6%, CAC 40 down 0.7%, and UK FTSE down 0.1% upon returning from the long weekend.</p><p style=““ class=“text-align-justify“>This is keeping the pressure on commodity currencies with the dollar holding firmer alongside higher Treasury yields today. That said, we’re still sitting in the confines of key technical levels as mentioned <a target=“_blank“ href=“https://www.forexlive.com/news/dollar-up-against-the-apex-20220920/“ target=“_blank“>here</a>.</p>

This article was written by Justin Low at forexlive.com.

<ul><li>2-year Treasury yields +2.2 bps to 3.968%</li><li>5-year Treasury yields +1.6 bps to 3.709%</li><li>10-year Treasury yields +2.9 bps to 3.518%</li><li>30-year Treasury yields +3.8 bps to 3.543%</li></ul><p style=““ class=“text-align-justify“>It looks like the rates market is still siding with a more hawkish Fed ahead of the main event tomorrow. Yields are continuing to push higher on the week with 2-year Treasury yields hitting 3.97% – its highest since November 2007. The dollar didn’t take much cue from bonds yesterday but is looking steadier so far today with USD/JPY also up 0.3% to 143.65 at the moment.</p><p style=““ class=“text-align-justify“>The Fed remains the driving force for the next key move but with markets already inching towards 4% rates, it will take some added convincing from Powell & co. to drive another push higher surely – same might be said for the dollar as well.</p>

This article was written by Justin Low at forexlive.com.