Week Ahead September 23rd – 27th
EURUSD pair closed last week’s trading session higher on US Dollar selloff after FED cut interest rates by 0.5% as it was widely expected. After many days of range trading, finally the pair traded higher as markets continue to priced-in the intertest rate cut. Although it was expected the 0.5%, markets continue to priced-in the future interest rate cuts that will finally stabilize at 3.4% by end of 2025. From the European side, ECB’s president Lagarde maintained a hawkish tone, highlighting that any future interest rate cut will need to wait until more economic catalyst will be evaluated. This widen the divergence between the two central banks keeping the pair higher.
As for this week, traders and investors will mainly focus on the economic calendar with the main economic catalyst the US personal consumption expenditures. FED’s officials are due to speak during the week and they may provide more guidance on FED’s future interest rate path.
On the economic calendar we have on Monday, European Services PMI pointing at 52.9 and US Services PMI at 55.7 On Thursday, US gross domestic product expected at 3% durable goods orders -2.8% On Friday, US core personal consumption expenditure to remain unchanged at 0.2%
Technically the picture is positive after last week’s close higher and just below (0%) at 1.1163 In this week’s trading session if pair trades on the upside will test 1.1200 If trades on the downside will test 1.1058 (23.6%) Our traders are keeping open their short positions starting from 1.0870 to 1.1186 targeting profits at 1.0800 We are expecting more aggressive short positions on the way up and new long positions at 1.1000
GBPUSD pair closed last week’s trading session higher on US Dollar selloff after FED cut interest rates by 0.5% as it was widely expected. Although it was expected the 0.5%, markets continue to priced-in the future interest rate cuts that will finally stabilize at 3.4% by end of 2025. From the UK side, BOE kept interest rates unchanged as it was widely expected. BOE MPs maintained a hawkish tone, voting for no more interest rate cuts. This widen the divergence between the two central banks keeping the pair higher.
As for this week, traders and investors will mainly focus on the economic calendar with the main economic catalyst the US personal consumption expenditures. FED’s and BOE’s officials are due to speak during the week and they may provide more guidance on both central banks’ future interest rate policy.
On the economic calendar we have on Monday, UK Services PMI pointing at 52.5 and US Services PMI at 55.7 On Thursday, US gross domestic product expected at 3% durable goods orders -2.8% On Friday, US core personal consumption expenditure to remain unchanged at 0.2%
Technically the pair’s overall picture is positive after last week’s close higher just below (0%) at 1.33318 As for this week, if pair trades on the upside, will test 1.3400 Alternative, if trades on the downside, will test 1.3182 (23.6%) Our traders keeping open their short positions starting from 1.2870 to 1.3337 targeting profits at 1.2800 We are expecting more aggressive short positions on the way up and new long positions starting at 1.3182
Per un calendario economico più dettagliato, visitate il nostro calendario economico in tempo reale su:
https://tentrade.com/economic-calendar/
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