The Week Ahead: 26th – 30th September 2022

Overview for the Week Ahead

The pound falls to all-time low against US dollar amid fears over UK tax cut plans

The pound has plunged to an all-time low against the US dollar amid hammered market confidence in the Government’s economic plans after the Chancellor last week unveiled the biggest tax cuts in 50 years and signalled more were on the way.

The euro also hit a fresh 20-year low amid recession and energy security fears ahead of what is expected to be a painful winter across Europe as the war in Ukraine shows no sign of ending.

Experts warned the pound’s plunge towards parity with the dollar will send the cost of goods soaring even higher, potentially worsening the cost-of-living crisis, while it also means it will be more expensive for the Government to borrow money.

there are fears the Bank of England may even be forced to step in with an emergency interest rate hike to rein in soaring inflation fuelled by the tax cuts.

A move by the U.S. central bank to lift interest rates by 75 basis points for the third straight time on Wednesday while signalling more sizable hikes were likely renewed worries among investors that a hard landing is imminent – particularly as monetary policymakers around the globe followed suit in recent days.

This Week’s High Impact Events

The times below are GMT +3.

Monday 26th September

  • 16.00 – Europe – ECB President Lagarde Speaks

Potential instruments to Trade: EUR Crosses. 

  • 23.00 – US – FOMC Member Mester Speaks

Potential instruments to Trade: USD Crosses. 

Tuesday 27th September

  • 14.30 – US – Fed Chair Powell Speaks

Potential instruments to Trade: USD Crosses. 

  • 15.30 – US – Core Durable & Durable Goods Orders m/m

Potential instruments to Trade: USD Crosses. 

  • 16.55 – US – FOMC Member Bullard Speaks

Potential instruments to Trade: USD Crosses. 

  • 17.00 – US – CB Consumer Confidence, New Home Sales, & Richmond Manufacturing Index

Potential instruments to Trade: USD Crosses. 

Wednesday 28th September

  • 10.15 – Europe – ECB President Lagarde Speaks

Potential instruments to Trade: EUR Crosses. 

  • 17.00 – US – Pending Home Sales m/m

Potential instruments to Trade: USD Crosses. 

  • 17.15 – US – Fed Chair Powell Speaks

Potential instruments to Trade: USD Crosses. 

Thursday 29th September

  • 14.45 – Switzerland – Gov Board Member Maechler Speaks

Potential instruments to Trade: CHF Crosses. 

  • 15.30 – Canada – GDP m/m

Potential instruments to Trade: CAD Crosses. 

  • 16.30 – US – FOMC Member Bullard Speaks

Potential instruments to Trade: USD Crosses. 

  • 20.00 – US – FOMC Member Mester Speaks

Potential instruments to Trade: USD Crosses. 

Friday 30th September

  • 12.00 – Europe – CPI Flash & Core CPI Flash Estimate y/y

Potential instruments to Trade: EUR Crosses. 

  • 15.30 – US – Core PCE Price Index m/m

Potential instruments to Trade: USD Crosses. 

  • 16.00 – US – FOMC Member Brainard Speaks

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

We are Errante. Trading made personal.

Errante is the trading name used by Notely Trading Ltd, an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number [383/20]. Errante is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

To find out more about Errante, visit https://errante.eu.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.50% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read our Risk Disclosure.

Get started for free

Create Account
×

Search