Here are the Top Market Analysis for the 8th of September, 2023.

Currencies (Forex – FX)

• EUR/USD: The euro is trading lower today, after a strong run in the previous few sessions. The pair is currently trading around 1.0750, and is facing support at the 1.0700 level. If the euro can break through support, it could move lower towards the 1.0650 level. However, if the euro fails to break through support, it could move higher towards the 1.0800 level.
• USD/JPY: The dollar is trading higher against the yen today, after the release of strong US economic data. The pair is currently trading around 146.80, and is facing resistance at the 147.00 level. If the dollar can break through resistance, it could move higher towards the 147.50 level. However, if the dollar fails to break through resistance, it could move lower towards the 146.50 level.
• GBP/USD: The pound is trading lower against the dollar today, after the release of mixed UK economic data. The pair is currently trading around 1.1850, and is facing support at the 1.1800 level. If the pound can break through support, it could move lower towards the 1.1750 level. However, if the pound fails to break through support, it could move higher towards the 1.1900 level.
• AUD/USD: The Australian dollar is trading lower against the dollar today, after the release of weaker-than-expected Australian employment data. The pair is currently trading around 0.7100, and is facing support at the 0.7050 level. If the Australian dollar can break through support, it could move lower towards the 0.7000 level. However, if the Australian dollar fails to break through support, it could move higher towards the 0.7150 level.
• NZD/USD: The New Zealand dollar is trading lower against the dollar today, after the release of weaker-than-expected New Zealand inflation data. The pair is currently trading around 0.6700, and is facing support at the 0.6650 level. If the New Zealand dollar can break through support, it could move lower towards the 0.6600 level. However, if the New Zealand dollar fails to break through support, it could move higher towards the 0.6750 level.

Metals

• Gold: Gold is trading lower today, after a strong run in the previous few sessions. The metal is currently trading around $1,930 per ounce, and is facing support at the $1,920 level. If gold can break through support, it could move lower towards the $1,910 level. However, if gold fails to break through support, it could move higher towards the $1,950 level.
• Silver: Silver is trading lower today, after a strong run in the previous few sessions. The metal is currently trading around $23.80 per ounce, and is facing support at the $23.60 level. If silver can break through support, it could move lower towards the $23.40 level. However, if silver fails to break through support, it could move higher towards the $24.20 level.
• Platinum: Platinum is trading lower today, after a strong run in the previous few sessions. The metal is currently trading around $935 per ounce, and is facing support at the $930 level. If platinum can break through support, it could move lower towards the $925 level. However, if platinum fails to break through support, it could move higher towards the $945 level.
• Palladium: Palladium is trading lower today, after a strong run in the previous few sessions. The metal is currently trading around $1,235 per ounce, and is facing support at the $1,230 level. If palladium can break through support, it could move lower towards the $1,225 level. However, if palladium fails to break through support, it could move higher towards the $1,250 level.

Commodities

• Crude oil: Crude oil is trading lower today, after a sharp sell-off in the previous session. The oil is currently trading around $95 per barrel, and is facing support at the $94 level. If crude oil can break through support, it could move lower towards the $93 level. However, if crude oil fails to break through support, it could move higher towards the $97 level.
• Natural gas: Natural gas is trading higher today, after a sharp sell-off in the previous few sessions. The gas is currently trading around $6.10 per MMBtu, and is facing resistance at the $6.20 level. If natural gas can break through resistance, it could move higher towards the $6.30 level. However, if natural gas fails to break through resistance, it could move lower towards the $6.00 level.
• Wheat: Wheat is trading lower today, after a sharp sell-off in the previous session. The grain is currently trading around $7.70 per bushel, and is facing support at the $7.60 level. If wheat can break through support, it could move lower towards the $7.50 level. However, if wheat fails to break through support, it could move higher towards the $7.90 level.
• Corn: Corn is trading higher today, after a sharp sell-off in the previous few sessions. The grain is currently trading around $6.30 per bushel, and is facing resistance at the $6.40 level. If corn can break through resistance, it could move higher towards the $6.50 level. However, if corn fails to break through resistance, it could move lower towards the $6.20 level.
• Coffee: Coffee is trading higher today, after a sharp sell-off in the previous session. The bean is currently trading around $2.25 per pound, and is facing resistance at the $2.30 level. If coffee can break through resistance, it could move higher towards the $2.35 level. However, if coffee fails to break through resistance, it could move lower towards the $2.20 level.
• Gold, Silver, Copper: Please check Metals category

Indices

• Dow Jones Industrial Average (DJIA): The DJIA is trading lower today, down 0.17% at 34,500.73. The index is being weighed down by weakness in the financial and energy sectors.
• S&P 500 Index: The S&P 500 is also trading lower today, down 0.32% at 4,451.14. The index is being weighed down by weakness in the technology and consumer discretionary sectors.
• NASDAQ Composite Index: The NASDAQ Composite is trading lower today, down 0.89% at 13,748.83. The index is being weighed down by weakness in the technology and communication services sectors.
• FTSE 100 Index: The FTSE 100 is trading higher today, up 0.21% at 7,441.72. The index is being supported by strength in the mining and energy sectors.
• DAX Index: The DAX is trading lower today, down 0.14% at 15,718.66. The index is being weighed down by weakness in the financial and technology sectors.
• NIKKEI 225: The Nikkei 225 is trading lower today, down 0.75% at 32,991.08. The Japanese stock market is being weighed down by weakness in export-oriented stocks.

Cryptocurrencies

• Bitcoin: Bitcoin is trading at $26,000, up 0.5% in the last 24 hours. The cryptocurrency is still trading below the $30,000 level, which is a key resistance level.
• Ethereum: Ethereum is trading at $1,500, up 1% in the last 24 hours. The cryptocurrency is also trading below the $2,000 level, which is a key resistance level.
• Tether: Tether is trading at $1, which is its peg to the US dollar. The stablecoin has been relatively stable in recent months.
• USD Coin: USD Coin is trading at $1, which is its peg to the US dollar. The stablecoin has also been relatively stable in recent months.
• Solana: Solana is trading at $40, up 3% in the past 24 hours. The fourth-largest cryptocurrency is also consolidating after a recent rally, but it is still trading below its all-time high of $260.

Current Factors Affecting the Makets and Events to Watch Out For

• The release of US inflation data.
• The release of UK employment data.
• The release of US manufacturing PMI data. The outcome of the Federal Reserve meeting.
• The outcome of the European Central Bank meeting.
• The outcome of the Bank of Japan meeting.
• Geopolitical developments, such as the Russia-Ukraine war
• Central bank monetary policy decisions
• The weather
• Changes in investor sentiment
• The adoption of cryptocurrencies by businesses and individuals is growing, but it is still in its early stages.