{"id":9351,"date":"2024-09-16T06:10:34","date_gmt":"2024-09-16T06:10:34","guid":{"rendered":"https:\/\/justmarkets.eu\/?p=9351"},"modified":"2024-09-16T06:10:35","modified_gmt":"2024-09-16T06:10:35","slug":"weekly-overview-2024-09-16","status":"publish","type":"post","link":"https:\/\/justmarkets.eu\/pl\/analytics\/weekly-overview-2024-09-16\/","title":{"rendered":"Week&#8217;s main events (September 16 \u2013 September 20)"},"content":{"rendered":"\r\n<div class=\"ag-base_page ag-m-format-container\">\r\n<h1 class=\"ag-base_title-page\">Week&#8217;s main events (September 16 \u2013 September 20)<\/h1>\r\n<div class=\"ag-analytics-page ag-market-overview-page\">\r\n<p class=\"ag-analytics_text\">The Forex market is in for another volatile week. This week, investors should focus on the interest rate decisions of the central banks of the United States, United Kingdom, Japan, Norway, and China. The US Federal Reserve is expected to cut interest rates this week by 0.25%, while other central banks are expected to hold rates at current levels. However, there could be surprises in Norway and China. Special attention should be paid to Jerome Powell&#8217;s remarks at Wednesday&#8217;s press conference after the interest rate announcement. There will also be many inflation reports this week, particularly in the Eurozone, Canada, the UK, and Japan.<\/p>\r\n<div class=\"ag-analytics_title\">Monday, September 16<\/div>\r\n<div class=\"ag-analytics_title-list\">Monday will be the quietest day of the week, with no major economic events. It\u2019s a bank holiday in Japan and China.<\/div>\r\n<ul class=\"ag-analytics_list\">\r\n<li>\u2013 Switzerland Producer Price Index (m\/m) at 09:30 (GMT+3);<\/li>\r\n<li>\u2013 Eurozone Trade Balance (m\/m) at 12:00 (GMT+3).<\/li>\r\n<\/ul>\r\n<div class=\"ag-analytics_title\">Tuesday, September 17<\/div>\r\n<div class=\"ag-analytics_title-list\">On Tuesday, Canada will release CPI inflation data for August. Inflationary pressures are expected to continue to decline, which will confirm the Bank of Canada&#8217;s policy vector for further rate cuts. The US retail sales data will be studied to determine how the US consumer feels during a high interest rate period. This data may affect the probability of rates cut by the FOMC on Wednesday. It\u2019s a bank holiday in China.<\/div>\r\n<div class=\"ag-analytics_title-list__strong\">Main events of the day:<\/div>\r\n<ul class=\"ag-analytics_list\">\r\n<li>\u2013 Eurozone ZEW Economic Sentiment (m\/m) at 12:00 (GMT+3).<\/li>\r\n<li>\u2013 US Retail Sales (m\/m) at 15:30 (GMT+3);<\/li>\r\n<li>\u2013 Canada Consumer Price Index (m\/m) at 15:30 (GMT+3);<\/li>\r\n<li>\u2013 US Industrial Production (m\/m) at 16:15 (GMT+3).<\/li>\r\n<\/ul>\r\n<div class=\"ag-analytics_title\">Wednesday, September 18<\/div>\r\n<div class=\"ag-analytics_title-list\">The main event on Wednesday will be the Fed Interest Rate Decision. Economists are almost certain that the Fed will cut the rate by 0.25%, but there is a 30% chance of a larger 0.5% rate cut. The investors will also focus on the FOMC forecasts and on the speeches of Fed Chairman Jerome Powell at the end of the meeting to get clues as to the Fed&#8217;s next steps. If the dot plot and Powell propose to cut rates this year by fewer basis points than the 115 currently expected by the market, the dollar index could be fuel to rise, putting pressure on risk assets. Also, on Wednesday, investors should pay attention to the UK inflation data. Inflation is expected to fall from 2.2% to 2.1% year-on-year, increasing the likelihood of a rate cut by the Bank of England in November.<\/div>\r\n<div class=\"ag-analytics_title-list__strong\">Main events of the day:<\/div>\r\n<ul class=\"ag-analytics_list\">\r\n<li>\u2013 Japan Trade Balance (m\/m) at 02:50 (GMT+3);<\/li>\r\n<li>\u2013 UK Consumer Price Index (m\/m) at 09:00 (GMT+3);<\/li>\r\n<li>\u2013 UK Producer Price Index (m\/m) at 09:00 (GMT+3);<\/li>\r\n<li>\u2013 Eurozone Consumer Price Index (m\/m) at 12:00 (GMT+3);<\/li>\r\n<li>\u2013 US Building Permits (m\/m) at 15:30 (GMT+3);<\/li>\r\n<li>\u2013 US Crude Oil Reserves (w\/w) at 17:30 (GMT+3);<\/li>\r\n<li>\u2013 US Fed Interest Rate Decision at 21:00 (GMT+3);<\/li>\r\n<li>\u2013 US FOMC Statement at 21:00 (GMT+3);<\/li>\r\n<li>\u2013 US FOMC Economic Projections at 21:00 (GMT+3)<\/li>\r\n<li>\u2013 US FOMC Press Conference at 21:30 (GMT+3).<\/li>\r\n<\/ul>\r\n<div class=\"ag-analytics_title\">Thursday, September 19<\/div>\r\n<div class=\"ag-analytics_title-list\">The Bank of England will make an Interest Rate Decision on Thursday, where no change is expected as services inflation remains at the same high level. At the last meeting, the Bank of England signaled that it would be cautious about future rate cuts. However, volatility in currency pairs with the British pound will increase sharply. Also, on this day, there will be a meeting by the Norwegian Central Bank. Analysts expect Norges Bank to keep the rate unchanged as well. There is a small probability that the Norwegians will start a cycle of rate cuts. Special attention should be paid to New Zealand GDP data. This data is published once a quarter. Weak growth of 0.1% is forecast, but if the data comes out worse than expected, it could hit NZD as it increases the likelihood of a rate cut from the RBNZ.<\/div>\r\n<div class=\"ag-analytics_title-list__strong\">Main events of the day:<\/div>\r\n<ul class=\"ag-analytics_list\">\r\n<li>\u2013 New Zealand GDP (q\/q) at 01:45 (GMT+3);<\/li>\r\n<li>\u2013 Australia Unemployment Rate (m\/m) at 04:30 (GMT+3);<\/li>\r\n<li>\u2013 Norwegian Interest Rate Decision at 11:30 (GMT+3);<\/li>\r\n<li>\u2013 UK BoE Interest Rate Decision at 14:00 (GMT+3);<\/li>\r\n<li>\u2013 UK BoE MPC Meeting Minutes at 14:00 (GMT+3);<\/li>\r\n<li>\u2013 US Initial Jobless Claims (w\/w) at 15:30 (GMT+3);<\/li>\r\n<li>\u2013 US Philadelphia Fed Manufacturing Index (m\/m) at 15:30 (GMT+3);<\/li>\r\n<li>\u2013 US Existing Home Sales (m\/m) at 17:00 (GMT+3);<\/li>\r\n<li>\u2013 US Natural Gas Storage (w\/w) at 17:30 (GMT+3).<\/li>\r\n<\/ul>\r\n<div class=\"ag-analytics_title\">Friday, September 20<\/div>\r\n<div class=\"ag-analytics_title-list\">On Friday, traders should be directed to the Bank of Japan&#8217;s monetary policy meeting. No changes are expected, but bank officials may give a clear message about the rate hike at the next meeting, which was repeated by Japanese officials last week. This could give fuel to the Yen to strengthen further. In China, the central bank will also hold a policy meeting. Economists do not expect any changes, but the Bank may spring a surprise with a rate cut, as it has done several times before. Also worth watching on Friday is retail sales data in the UK and Canada. This report is a good indication of consumers&#8217; purchasing power. The better the indicator is, the better it is for the national currency, and vice versa.<\/div>\r\n<div class=\"ag-analytics_title-list__strong\">Main events of the day:<\/div>\r\n<ul class=\"ag-analytics_list\">\r\n<li>\u2013 Japan National Core Consumer Price Index (m\/m) at 02:30 (GMT+3);<\/li>\r\n<li>\u2013 China PBoC Loan Prime Rate (m\/m) at 04:15 (GMT+3);<\/li>\r\n<li>\u2013 Japan BoJ Outlook Report at 07:00 (GMT+3);<\/li>\r\n<li>\u2013 Japan BoJ Interest Rate Decision at 07:00 (GMT+3);<\/li>\r\n<li>\u2013 UK Retail Sales (m\/m) at 09:00 (GMT+3);<\/li>\r\n<li>\u2013 Canada Retail Sales (m\/m) at 15:30 (GMT+3);<\/li>\r\n<li>\u2013 Eurozone ECB President Lagarde Speaks (m\/m) at 18:00 (GMT+3);<\/li>\r\n<li>\u2013 Switzerland Trade Balance (m\/m) at 09:00 (GMT+3);<\/li>\r\n<li>\u2013 German Producer Price Index (m\/m) at 09:00 (GMT+3);<\/li>\r\n<li>\u2013 Switzerland SNB Monetary Policy Statement at 10:30 (GMT+3);<\/li>\r\n<li>\u2013 Switzerland SNB Interest Rate Decision at 10:30 (GMT+3);<\/li>\r\n<li>\u2013 Switzerland SNB Press Conference at 11:00 (GMT+3);<\/li>\r\n<li>\u2013 US Manufacturing PMI (m\/m) at 16:45 (GMT+3);<\/li>\r\n<li>\u2013 US Services PMI (m\/m) at 16:45 (GMT+3);<\/li>\r\n<li>\u2013 New Zealand Trade Balance (m\/m) at 01:45 (GMT+3);<\/li>\r\n<li>\u2013 Australia Manufacturing PMI (m\/m) at 02:00 (GMT+3);<\/li>\r\n<li>\u2013 Australia Services PMI (m\/m) at 02:00 (GMT+3);<\/li>\r\n<li>\u2013 Singapore Consumer Price Index (m\/m) at 08:00 (GMT+3);<\/li>\r\n<li>\u2013 Eurozone German Manufacturing PMI (m\/m) at 10:30 (GMT+3);<\/li>\r\n<li>\u2013 Eurozone German Services PMI (m\/m) at 10:30 (GMT+3);<\/li>\r\n<li>\u2013 Eurozone Manufacturing PMI (m\/m) at 11:00 (GMT+3);<\/li>\r\n<li>\u2013 Eurozone Services PMI (m\/m) at 11:00 (GMT+3);<\/li>\r\n<li>\u2013 UK Manufacturing PMI (m\/m) at 11:30 (GMT+3);<\/li>\r\n<li>\u2013 UK Services PMI (m\/m) at 11:30 (GMT+3).<\/li>\r\n<\/ul>\r\n<p class=\"ag-analytics_text\">by <span class=\"author vcard\"><span class=\"fn\">JustMarkets<\/span><\/span>, <span class=\"updated\">2024.09.16<\/span><\/p>\r\n<!--a href=\"\/analytics\/daily-forecast\" class=\"ag-analytics_link\">\r\nWe advise you to get acquainted with the daily forecasts for the major currency pairs.\r\n<\/a--> <a class=\"ag-base-btn\" href=\"https:\/\/secure.justmarkets.eu\/pl\/register\/?sl=1\">Open Account<\/a><\/div>\r\n<\/div>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Week&#8217;s main events (September 16 \u2013 September 20) The Forex market is in for another volatile week. This week, investors should focus on the interest rate decisions of the central banks of the United States, United Kingdom, Japan, Norway, and China. The US Federal Reserve is expected to cut interest &#8230;<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[193,330,338],"tags":[],"class_list":["post-9351","post","type-post","status-publish","format-standard","hentry","category-analytics","category-market-overview","category-weekly-overview"],"featured_image_src":"","blog_images":{"medium":"","large":""},"acf":[],"aioseo_notices":[],"ams_acf":[{"key":"icon","label":"Icon","value":false}],"_links":{"self":[{"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/posts\/9351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/comments?post=9351"}],"version-history":[{"count":2,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/posts\/9351\/revisions"}],"predecessor-version":[{"id":9363,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/posts\/9351\/revisions\/9363"}],"wp:attachment":[{"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/media?parent=9351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/categories?post=9351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/tags?post=9351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}