Week Ahead September 9th – 13th
EURUSD pair closed last week’s trading session marginally higher after another attempt to break higher. The pair traded within same range as previous week on standby mode ahead of next week’s FED interest rate decision. Given recent market economic indicators investors and traders are pricing in a rate cut of 0.5% for next Wednesday’s FOMC (18th September). The lower than expected ADP employment and nonfarm payroll added downside pressure on US Dollar, that later overshadowed by better than expected hourly earnings.
As for this week, traders and investors will mainly focus on the ECB interest rate decision due to be released on Thursday. The European central bank is expected to cut interest rates by 0.25%. Failure to do so, will boost Euro and push the pair on the upside as divergence between the two central banks will be wider. An unexpected higher rate cut and dovish press conference could trigger selloff in Euro and bring the pair lower. Form the US dollar side the US CPI will be the strongest catalyst behind any US Dollar price action.
On the economic calendar we have on Tuesday, the German Harmonized index of consumer prices. Expectations is to remain unchanged at 2%. On Wednesday, US consumer price index pointing lower at 2.6% On Friday, US Michigan consumer sentiment expected higher at 68
Technically the picture is positive after last week’s close above (23.6%) at 1.1084 In this week’s trading session if pair trades on the upside will test 1.1200 If trades on the downside will test 1.0970 (38.2%) Our traders are keeping open their short positions starting from 1.0870 to 1.1066 targeting profits at 1.0800 We are expecting more aggressive short positions on the way up and new long positions at 1.0800
GBPUSD pair closed last week’s trading session unchanged after another attempt to break higher. The pair traded within same range as previous week on standby mode ahead of next week’s FED interest rate decision. Given recent market economic indicators investors and traders are pricing in a rate cut of 0.5% for next Wednesday’s FOMC (18th September). The lower than expected ADP employment and nonfarm payroll added downside pressure on US Dollar, that later overshadowed by better than expected hourly earnings.
As for this week, traders and investors will mainly focus on the BOE monetary policy report and US CPI. Pair is expected to remain within same range until next week’s FED interest rate decision.
On the economic calendar we have on Tuesday, the UK ILO Unemployment rate pointing lower at 4.1% On Wednesday, UK Manufacturing production lower at 0.2%, US consumer price index pointing lower at 2.6% On Friday, US Michigan consumer sentiment expected higher at 68
Technically the pair’s overall picture is positive after last week’s close above (23.6%) at 1.3126 As for this week, if pair trades on the upside, will test 1.3266 Alternative, if trades on the downside, will test 1.3037 (23.6%) Our traders keeping open their short positions starting from 1.2870 to 1.3230 targeting profits at 1.2800 We are expecting more aggressive short positions on the way up and new long positions starting at 1.2900
Daha ayrıntılı ekonomik takvim etkinlikleri için lütfen canlı ekonomik takvimimizi ziyaret edin:
https://tentrade.com/economic-calendar/
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