BingZi Forex Solutions

09 Sep 2026.......Market Updates

Canada officially implemented its 50% tariffs on US imports yesterday.

Russia started attacks on Kyiv right after the two US peace envoys left Ukraine.

Houthis initiated fresh attacks on 4 Saudi cities and oil facilities yesterday.

The middle east tension remains elevated.

Oil price and US bond yields are up.

Brent closed near $100 @ $ 99.27 while US10Y closed @ 4.79% last night.

The S&P closed a tad lower @ 7,673 (range 7,666 - 7,710) last night.

The DXY and the US10Y closed @ 98.85 (range 98.73 - 99.01) and @ 4.79% (range 4.75% 44.81%) respectively last night.

The middle-east now decided to build up its own defenses and finding alternative routes around the Hormuz Straits as it longer trust the US to ensure stability and peace in the region.

Pipeline constructions are now expanding in an attempt to route oil around the Hormuz Straits as both the US and Iran continues the confrontation.

The world is still waiting for an official Oman/Iran announcement on how they would jointly administer the Hormuz Straits without the US.

With oil prices nearing $100 again, we are now back to a US rate hike sentiment heading into next Wednesday (US Interest rates Decision).

This is a "Black Out Week" as no Fed speakers are allowed to make any comments over the newswires.

Perhaps, the FED could hike rates now and deliberately slow down the US economy before it can cut interest rates?

The XAU/USD traded below 4400.00 and closed @ 4455.00 (range 4345.02 - 4443.49) last night.

Technically, the XAU/USD is expected to be supported @ 4330.00 to resume its uptrend towards 4785.00 as a first target.

However, this is contingent on 4330.00 holding fort, as a break will see a lower BUY-ZONE of 4120.00 - 4240.00.

The USD/JPY remained very soft last night and closed @ 153.86 (range 152.89 - 154.42).

Technically, it has already started its Wave 3 decline towards 142.00 target and it is difficult to project any reasonable correction rally to SELL USD/JPY.

It was finally reported yesterday that Japan has started to unload its US Treasury holdings to support the JPY, despite the US last joint intervention. (Japan's US Treasuries fell by $ 87 billion at the end of August)

The BOJ is also expected to hike interest rates next week and next month consecutively.

The FED, BOE and BOJ will be announcing their interest rates decision from Wednesday to Friday next week.

Today's focus will be on the US ADP Employment Change and any news of an Oman/Iran joint administration of the Hormuz Straits.

Let's see.

08 Sep 2026......Market Updates

Monday was very quiet with the US out on holiday.

The US peace negotiators had touched based with Putin and Zelensky over the weekend with no clear signs of a peace deal.

Putin maintained his consistent demands that he wanted the last few pieces of land, still under Ukraine's control.

Meanwhile, Iran and Oman will be expected to reveal their joint plan to administrate the Hormuz Straits this week.

Canada will officially implement its tariffs on the US today.

Iran has issued fresh warnings that they now have more powerful precision missiles in their arsenal and have also adopted a new war doctrine.

Iran will now preempt actions ahead of perceived threats and will be pro-active and not be reactive, as before.

Market attention is starting to turn towards the US midterm elections which is just about 6 weeks away.

Trump's unpopularity is weakening the Republican chance of holding hold to its seats in the House of Representatives as the Democrats needed only 4 seats or more to reassert its influence in the Trump's government.

If Trump loses the House, the Democrats will start major investigations and probes into Trump's corruptions, with the aim of presidential impeachment.

The Republicans will also face lots of headwinds and backlash for their current implemented policies should the Democrats win the House.

The DXY and the US10Y closed last night @ 98.90 ((range 98.8399.18)and @ 4.80% (4.77% 4.80%) respectively.

The focus today, will be the US ADP Employment Change and the Consumer Inflation Expectation (Aug).

Technically, the USD/JPY had plunged below 155.00 yesterday without any central bank intervention.

The market is now quite certain that the BOJ will hike rates next week and next month.

The USD/JPY is expected to freefall towards 145.70 with very shallow correction rallies for the rest of the week.

The XAU/USD is holding well above its recent 4365.00 (0.618 Fibo) support and is expected to start moving higher towards 4650.00 (Scenario 1) for the rest of the week.

Scenario 2 is for a further drop towards 4330.00 before it starts resuming it's uptrend.

The market is expected to be quiet today leading to tonight's US data release.

Let's see what news we get from the newswires today, as that would be the likely trigger for any big directional move.

07 Sep 2026....Market Updates

The US NFP and Unemployment data came out very strong, reigniting the fear of a US rate hike on the 18 Sep 2027.

Fed Hammack then went over the newswires and said that the current monetary policy is not restrictive enough.

The US NFP registered a whooping 162K !(consensus 55K previous 21K).

US Unemployment remained @ 4.1% unchanged.

Wall Street tanked and the S&P closed lower @ 7,718 (range 7,706 - 7,741) while the DXY and US10Y rallied.

The DXY closed @ 999.17 (range 98.98-99.39) while the US10Y closed @ 4.78% (range 4.74% - 4.82%) respectively.

The focus will now turn to the US Inflation data scheduled for release next Thursday and Friday.

Norway (world's biggest sovereign fund) now plan to cut $ 2.3 trillion of its US Treasury holdings from 70% to 50% as the current US debt hit $40 trillion and has no clear policy to reduce their debt or interest rates.

Norway also covertly shifted it 89 tons of Gold reserve held in New York and Canada.

It sold 59 tons of Gold in New York and Buy the same amount in London while physically move the remaining 27 tons of Gold from Canada to London.

This move mirrored the recent Paris selling its gold reserve held in New York and Buying back in London.

This is a strategic move away from the US under Trump's global threats and geopolitical miss-management since 2025.

On the geopolitical front, Israel strikes Lebanon on Friday and hit 5 locations despite a truce signed by Israel and Hezbollah.

Meanwhile Witkoff and Kushner will be flying to Ukraine (6 Sep) after visiting Moscow in an attempt to discuss Ukraine ceasefire.

Canada will officially apply its 50% tariffs on the US on Tuesday (8 Sep) while the White House is busy in preparing a visit by Xi on 24 Sep.

Xi is expected to bring a large CEO delegation in an attempt to offer investment opportunities in the US ahead of the November Midterms.

The US has banned many Chinese tech firms deeming them to be a national security threat.

It will be interesting to see how Trump is able to get China's help to stop the Iran war, as Trump is currently holding off its Economic Outcast Sanctions on Iran's partners.

Some Chinese rare earth suppliers are already not shipping to the US, for fears of repercussions from Beijing.

Technically, the XAU/USD has found its baseline @ 4282.00 and is now ready to resume its move up towards 5430.00 next target (end Oct?).

USD/JPY is also starting its journey down to 146.20 and then 142.00 (end 2026) with a cap @ 157.00. (High last Friday 156.75)

Monday is a US holiday (Labour Day) and there is no data scheduled for release.

The ECB will announce its interest rates decision on Thursday and is expected to hike rates.

Let's see.

04 Sep 2026......Market Updates

The DXY and the US10Y fell last night and closed @ 99.00 (range 98.83 - 99.43) and @ 4.76% (range 4.72% - 4.78%) respectively.

The S&P rallied to close @ 7,747 (range 7,690 - 7,754) mainly on Fed's Waller suggesting that he may vote to keep interest rates unchanged as he saw promising signs of "disinflation" in the US.

These are the events last night:

1. Nvidia announced a $13 billion purchase of Hugging Face (developer platform) in a bid to develop its own chips and rely less on semiconductor giant

2. The Japanese Yen rose 2%, back to post joint intervention lows of 155.20 without any signs of central bank interventions

3. US Trade Deficits is now at its highest ($ 88.6 billion or a 24.4% change from $71.2 billion in June) since Mar 2025 when importers stocked up ahead of Trump's Liberalisation Tariffs

4. Putin cited chance of a peace deal with Ukraine

5. US Sanctions pressure on Iran is starting to show.

The USD/JPY plunged from a high of 158.96 to a low of 155.30 while the XAU/USD spike up from a low of 4382.15 to a high of 4511.27 yesterday as the Dollar and US Yields plunged in tandem.

Both Brent and WTI futures stayed elevated @ $95 and $92 unchanged as the US/Iran deadlock continues.

What is remarkable yesterday was the JPY rallying with no central bankers influence!

The market sentiment has changed totally from US Rate Hike to US Rate Hold within a day!

Technically, the USD/PY unfolded with clockwork precision for a move towards 142.00 (end 2026) and is now ready to execute a plunge towards 146.20 once 155.20 breaks.

The XAU/USD is now set to resume its uptrend towards 4785.00 (end Sep) with a strong base @ 4280.00 (low 4282.00).

It is now expected to correct lower towards 4340.00- 4370.00 for a second bite of this uptrend.

The focus today is the US NFP and Unemployment as the US labour market so far has been " stable but unexciting, as data consistently shows a drop in hiring but Unemployment also dropped due to people leaving the workforce.

The currencies are now at a point of inflection to reverse direction for a correction before resuming its trend again.

Let's see.

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BingZi Forex Solutions

03 Sep 2026......Market Updates

It was a quiet evening last night as the S&P traded sideways and closed @ 7,666 (range 7,659 - 7,681).

The DXY and the US10Y eased back slightly and closed @ 99.58 (range 99.45 - 99.85) and @ 4.78% (range 4.76% - 4.82%).

Oil prices eased off slightly but stay elevated above $90.

The US Beige Book shows modest US economic growth as prices rise.

Prices increased moderately in 6 districts, with two districts reporting modest increases , one slightly increases and one strong increases.

Fed Williams said that US Bond yields are not driven by inflation expectations but reflect a robust US economy.

He also said that inflation is not out of control and the current monetary policy is just right to achieve the 2% goal.

The US ADP registered a lower growth of 38,000 (below consensus)

The US Labour data released recently shows that US hiring remains extremely subdued, even when the US JOLTs showed job openings increased but hiring fell by 278,000.

This Friday's US NFP and Unemployment data will be monitored closely to affirm this trend.

The highlight last night was "Japanese Checking" prices in the USD/JPY which saw the sharp move down from 160.40 to 158.20.

The market is wary that the BOJ will likely hike interest rates 2 weeks from now and also think that the BOJ will continue hiking rates in Sep, Oct and Feb 2027.

This was construed after Bessent told Ueda that Japan's Abenomics policy is now clearly behind the curve, during the concluded G20 Meeting on Tuesday.

Oil prices eased off a tad as there was no follow up attacks from the US and Iran.

Canada will implement its 50% tariff on the US on 8 Sep 2026 (next Tuesday) while Xi is expected to visit Trump in Washington on 24 Sep 2026.

Technically, the XAU/USD hit a low of 4282.00 (supposed to find support @ 4320.00) and recovered to a high of 4398.00 yesterday.

Looks like it is ready to try lower to test its 4230.00 (WAVE 2) support for a move towards 5430.00 as the next shot.

However there is an interim support @ 4320.00 which may hold and flip the XAU/USD up again.

The USD/JPY's ideal 160.50-60 SELL objective is deemed to have been met (high 160.40) and started the move down to hit a low of 158.20 on "suspected intervention" last night.

It is expected to find support @ 157.80 before doing a correction rally towards 159.40 for a SELL for 142.00 (end 2026).

Will be watching these 2 closely as these 2 pairs will likely be the star performers in 2026.

The focus today will be the releases of Global Services PMI data from Japan, Australia, the UK ,EU and the US.

Let's see.

02 Sep 2026.......Market Updates

September started with a "BANG" as global bond yields spikes with Japanese yield scaling levels not breached for 30 years, while oil prices rose again.

The US launched fresh attacks on IRGC sites in southern Iran, in retaliation for new attacks on 2 oil supertankers (owned by Saudi Arabia and South Korea shipping companies), attempting to exit the Hormuz Straits on Tuesday.

Brent Futures and WTI Futures hit $94 and $90 a barrel respectively.

Meanwhile, the G20 Summit ended yesterday with Bessent telling Ueda that Japan needed to do more as the Abenomics stimulative monetary policy is too slow.

The BOJ is now expected to hike in September, December and in April 2027.

Despite calls from the G20 officials to grow their way out of the debt problem, players are increasingly skeptical this is a viable plan.

Interest rates are higher than growth rates while debt servicing is eating up more of the government budgets.

Despite rising energy prices, the world's factories are doing fine as surging AI hardware demand in Asia and Europe bounced higher.

The EU's Manufacturing PMI data grew at its fastest rate in more than 4 years while the US Manufacturing PMI data also showed a positive number yesterday.

The S&P traded lower and closed @ 7,631 (range 7,608 - 7,663) while the DXY and US10Y spiked last night.

The DXY and the US10Y closed higher @ 99.65 (range 99.47 - 99.72) and @ 4.80% target 4.75% - 4.80%) respectively.

Technically, the DXY looks ready to punch above 100.00 as Iran is expected to retaliate to the latest US attacks.

The XAU/USD slipped and hit its lower BUY-ZONE level @ 4320.00 (low 4322.00) and hopefully this holds today.

It is expected to recover to 4620.00, before making further assessment for 4785.00.

The XAU/USD technical picture has changed slightly as it may now take longer to see 4785.00 because of the extended move to 4320.00.

The USD/JPY still has eyes on 160.60 (high 160.28) but the momentum is fast slowing and may not hit its first SELL-ZONE target @ 160.50.

Much of that depends on BO's actions as Bessent speech about Japan's slow rate hike sounded more like "we have done you that intervention favour, you are now on your own" .

Today's focus will be on the RBA Minutes, the RBNZ Interest Rate Decision (expected to hike), the US ADP Employment change, Factory Orders and the Beige Book.

News of Iran's retaliation strikes against US bases will also be monitored closely.

Expect a volatile day ahead.

Let's see.

01 Sep 2026......Market Updates

The US10Y spiked above 4.75% for the first time since January last year, part of a global bond selloff which weighed on Wall Street last night.

The S&P drifted a tad lower and closed @ 7,686 99(range 7,664 - 7,696) as the market digested the escalation of the US/Iran war and oil price hitting $90.

The US10Y traded higher and closed @ 4.76% (range 4.69% - 4.76%) as the majority of the market thinks that the Fed will hike rates on 16 Sep 2026.

The DXY traded lower and closed @ 99.42 (range 99.39 - 99.63) as players pared dollar long positions, ahead of a heavy slew of data release ahead.

Oil prices rallied on the recently announced huge oil deal between the US and Venezuela.

Venezuela's oil infrastructure is in a state of disrepair after years of mismanagement by its socialist government and will take years and heavy investments to boost oil output.

Hence, US pump prices and the US Strategic Oil Resreves will not see any relief soon.

Meanwhile, European Finance Ministers protested the presence of Russia's attendance at the G20 meeting , invitation extended by Trump, yesterday.

Trump is trying to get his allies, including Russia to help him apply sanctions on Iran.

Meanwhile, Putin and Xi held talks at the two-day Shanghai Cooperation Organization (SCO) Summit in Kyrgyzstan, celebrating its 25-year anniversary yesterday.

The SCO mission is to promote a vision of a multipolar world that can present a united front against the West.

Meanwhile, Trump's approval ratings stay stuck @ 33%, giving Democrats an edge at the Mid-Terms Elections in November.

The XAU/USD finally plunged from 4472.00 to hit a low of 4296.15, weighed down by Warsh hawkish call on US inflation last Friday.

Technically, it hit its BUYZONE (4320.00-4420.00) and rebounded to test 4460.00, as the US market closed yesterday.

Although there is a deeper BUY-ZONE support @ 4320.00, 4390.00 is expected to hold today and see a break and closing above 4480.00 tonight.

The next target is 4785.00 (eta end Sep 2026).

The USD/JPY hit a high of 160.20 (SELL-ZONE 160.50 - 162.00) before closing below 160.00 @ 159.77 (low 159.48).

The USD/JPY is still expected to test 160.50-160.60 today before it starts to lose steam for a move lower, towards 142.00 (end 2026).

The trigger is most likely a BOJ interest rate hike on 18 Sep 2026.

Today is the start of the heavy data week, with the focus on Manufacturing PMI from the EU, the UK and the US followed by the US JOLTs tonight.

Let's see.

31 Aug 2026..........Market Updates

The S&P fell while the DXY and the US10Y rallied after Warsh delivered a hawkish speech at his first Jackson Hole Symposium, extending the reversal of a downtrend in the dollar last Friday.

Warsh provided his first guidance that US inflation is running too high and needed careful monitoring.

The DXY and the US10Y spiked up and closed @ 99.67 (range 99.1199.72) and @ 44.72% (range 4.65% - 4.73%) respectively.

The S&P tanked and closed @ 7,711 (range 7,700 - 7,770) in reaction to the hawkish speech.

Bessent jointly intervened the USD/JPY with Japan, which fell from 163.50 to 155.20 (830 pips drop) recently.

The USD/JPY recovered almost 60% of the drop to hit a high of 160.20 (low 159.29) last Friday.

Japan spent about US$ 96.5 billion while the US spent between US$ 5-10 billion in interventions!

Technically, Far East will take it up to 160.50 on Monday for a SHORT USD/JPY towards 142.00 (end 2026).

The technical USD/JPY SELL-ZONE is between 160.50-162.00.

The XAU/USD finally closed below 4500.00 @ 4450.00 (range 4445.20 - 4633.04) last Friday.

We are getting nearer to our first BUY level @ 4410.00 (BUY-ZONE 4330.00-4410.00) for a move towards 4880.00 (end Sep 2026).

The Far East will likely fill the above SELL levels as it is expected to follow through on last Friday's move, on Monday.

Meanwhile, on the geopolitical front, Trump's D-Day (Desperate-Day?) sanctions may see some "TACO sauce" as global leaders are not responding to his call to ostracize Iran.

Iran has now joined BRICs as a full-fledged member and now have a direct supply line and trade settlement facilities with Russia and China, basically operating outside the "US Dollar" system and sanctions.

Iran meanwhile said that it has full control over the Hormuz Straits for 30 days, as a full and final deal is currently being assembled between Oman and Iran, to jointly administer the Hormuz Straits.

According to Goldman Sachs, oil is currently flowing at 2/3 of pre-war levels, rising to 15-16 million barrels a day (7-8 million barrels below pre-conflict levels).

Oil prices have eased off since then, back to the $85 a barrel level.

We have come to the end of August and the first week of September is expected to be busy with focus on the US labour market.

US JOLTs, ADP Employment Change and the US NFP and Unemployment plus S&P Global Services + Manufacturing PMI will be scheduled for release throughout the week.

The RBNZ is expected to announce its interest rates decision on Wednesday (expected to hike).

Let's see.

28 Aug 2026.............Market Updates

It was a quiet evening as the market waited for tonight's Warsh speech at his first Jackson Hole Symposium.

The S&P drifted sideways and closed @ 7,330 (range 7,689 - 7,740) after the release of the US Jobless Claims and the US Current Account.

Both registered strong positive numbers.

The DXY managed to close above 99.00 for a second day but seems to be losing upside momentum below 99.20 and closed @ 99.13 (range 99.08 - 99.25).

The US10Y closed @ 4.67% (range 4.64% -- 4.68%), trying to get back above 4.70%.

Everything is quiet on the geopolitical front as news of a "near deal" to reopen the Hormuz Straits via a jointly administered protocol between Iran and Oman hits the market.

Iran said that it is a done deal but Oman said that there are still more details to be worked out.

Trump said that he will bomb the hell out of Oman should Oman join forces with Iran to reopen the Hormuz Straits.

Meanwhile Qatar was in Iran yesterday to mediate a ceasefire between the US and Iran.

Iran's message is clear :

They do not trust Trump and any talks must be predicated with the removal of US Naval Blockade in the gulf, removal of all sanctions and compensation paid for the war.

Technically, the XAU/USD and the USD/JPY are both in limbo today as the direction bias will be determined by Warsh address tonight at the Jackson Hole.

The XAU/USD have an interim support @ 4540.00 before 4410.00 (low was 4564.23) and it rallied and closed @ 4608.00 (range 4564.23 - 4643.50) last night.

It is possible that the XAU/USD has seen its support (low 4564.23) and start its rally towards 4785.00 target from here or still correct lower towards 4100.00 before resuming its uptrend.

The USD/JPY is facing a similar dilemma as it closed @ 159.37 (range 159.11-159.52).

It still has 160.50-162.00 SELL-ZONE in its sight but the loss of upside momentum is holding it back.

There are no data scheduled for release today so let's wait for the Jackson Hole speech by Warsh tonight.