The Week Ahead: 18th – 22nd September 2023

Overview for the Week Ahead

Wednesday is the big day on Wall Street with the Fed decision. The central bank is widely expected to hold rates steady at this meeting. But investors are pricing in at least one more rate hike this year. The decision will be announced at 21.00 GMT+3, and we will be live to bring you analysis in the news conference from Fed Chair Jerome Powell.

It will be a busy week for the housing sector. A slew of data is expected from homebuilder sentiment, to housing stats, and existing home sales.

The Bank of England is set to announce its decision on Thursday, following the release of UK consumer inflation data on Wednesday. Market expectations point to a 25-basis point rate hike. However, earlier expectations of a larger hike have softened due to recent UK data and the economic outlook, causing GBP/USD to tumble below 1.2400 to its lowest level since early June.

The Euro also declined after the European Central Bank (ECB) signalled that its recent rate hike may be its last, leading financial markets to interpret the message as dovish. The key report next week will be the European preliminary September PMIs.

And Russia’s invasion of Ukraine is expected to be the major focus of the UN General Assembly, kicking off on Monday. President Biden will be attending, but he is expected to be the only permanent member of the Security Council attending on Wednesday. He is set to hold a meeting on the sidelines with Israeli Prime Minister Benjamin Netanyahu.

Have your trading charts ready this week!

This Week’s High Impact Events

The times below are GMT +3.

Monday 18^th September

No High Impact Events

Tuesday 19^th September

04.30 – Australia – Monetary Policy Meeting Minutes

Potential instruments to Trade: AUD Crosses.

15.30 – Canada – CPI m/m, Core CPI m/m

Potential instruments to Trade: CAD Crosses.

15.30 – US – Building Permits

Potential instruments to Trade: USD Crosses.

Wednesday 20^th September

04.15 – China – 1-Year Loan Prime Rate, 5-Year Prime Rate

Potential instruments to Trade: GBP Crosses.

09.00 – UK – CPI y/y

Potential instruments to Trade: GBP Crosses.

21.00 – US – Federal Funds Rate, FOMC Economic Projection, FOMC Statement

Potential instruments to Trade: USD Crosses.

21.30 – US – FOMC Press Conference

Potential instruments to Trade: USD Crosses.

Thursday 21^st September

01.45 – New Zealand – GDP q/q

Potential instruments to Trade: NZD Crosses.

10.30 – Switzerland – SNB Monetary Policy Assessment, SNB Policy Rate, SNB Press Conference

Potential instruments to Trade: CHF Crosses.

14.00 – UK – Monetary Policy Summary, MPC Official Bank Rate Votes, Official Bank Rate

Potential instruments to Trade: GBP Crosses.

15.30 – US – Unemployment Claims

Potential instruments to Trade: USD Crosses.

Friday 22^nd September

Tentative – Japan – Monetary Policy Statement, BoJ Policy Rate, BoJ Press Conference

Potential instruments to Trade: JPY Crosses.

09.00 – UK – Retail Sales m/m

Potential instruments to Trade: GBP Crosses.

From 10.15 – Europe – Flash Manufacturing & Flash Services PMI

Potential instruments to Trade: USD Crosses.

11.30 – UK – Flash Manufacturing PMI, Flash Services PMI

Potential instruments to Trade: GBP Crosses.

15.30 – Canada – Core Retail Sales m/m, Retail Sales m/m

Potential instruments to Trade: CAD Crosses.

16.45 – US – Flash Manufacturing PMI, Flash Services PMI

Potential instruments to Trade: USD Crosses.

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