Date : 21st September 2021. Market Update – September 21 – Evergrande worries weigh. Market News USD (USDIndex 93.17) holds gains but down from 20 day high at 93.43. CAD recovers after Trudeau gets minority majority and 3rd term. Yields collapsed yesterday (10yr down to 1.309% from 1.37% on Friday.) Equities tanked globally, Evergrande worries persist. (USA500 -75 (-1.7%) at 4357. USA500.F ticks higher 4375. Some recovery into close was evident & Tuesday calm is following Monday’s carnage. (Tech giants down around 3% – TSLA hardest hit -3.86%). DAX worst of majors -2.3%. Nikkei down 2%. China, Taiwan & S. Korea still closed. VIX spiked to 26.80, highest since May. USOil breached under $70.00 yesterday to $69.69, since recovering to $70.50. Gold tested down to $1742, recovered $1750, trades at $1763 now. Overnight – RBA minutes – nothing new – Delta variant has “delayed, but not derailed, the recovery”, the economy will “bounce back”, “conditions for rate rise will not be met until 2024”. AUD back to 0.7275, AUDJPY up to 79.75 from test of 79.00 yesterday. European Open – December 10-yr Bund future unchanged on the day, US futures slightly lower. In Europe, Riksbank kicks off this week’s round of central bank meetings, which include Norges Bank, BoE & SNB on Thursday. There is also news from central banks in Japan, Brazil, Hungary, Indonesia, Norway, the Philippines, South Africa, Sweden, Switzerland, Taiwan & Turkey this week. However, FOMC will take centre stage & while stock markets seem to be stabilising after yesterday’s rout, volatility is likely to remain high ahead of tomorrow’s announcement DAX and FTSE 100 futures are up 0.4% and 0.6% respectively, while a 0.5% rise in the Dow Jones is leading a pick up in U.S. futures. In FX markets both EUR and pound gained ground as the dollar struggled with the strengthening of risk appetite. EURUSD is at 1.1735 and Cable at 1.3675. USDJPY dropped to 109.30 yesterday recovering to 109.56 now. Today – Riksbank rate decision, US housing starts & building permits, ECB’s de Guindos Biggest Mover @ (06:30 GMT) CADJPY (+0.85%) Trudeau result lifts CAD. From 87.00 on Friday to under 85.00 Monday and back to 86.00 now. Faster MA’s aligned higher, MACD signal line and histogram below 0 line but rallying. RSI 60 and rising. H1 ATR 0.170, Daily ATR 0.70. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.