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 18th September
No High Impact Events
Tuesday 19th 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 20th 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
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