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Abstract:The minutes from the Reserve Bank of Australia's September meeting will be made public on Tuesday. The final Consumer Price Index (CPI) will be made public by Eurostat later in the day. The US will report on Housing Starts and Building Permits, while Canada will present August inflation statistics.
The minutes from the Reserve Bank of Australia's September meeting will be made public on Tuesday. The final Consumer Price Index (CPI) will be made public by Eurostat later in the day. The US will report on Housing Starts and Building Permits, while Canada will present August inflation statistics.
WHAT YOU SHOULD BE AWARE OF ON TUESDAY, SEPTEMBER 19 IS AS FOLLOWS:
The US Dollar Index (DXY) witnessed a slight dip but still managed to hold above 105.00. After nine days of gains, it was the first day of losses. While market players expected central bank meetings, this correction took place during a slow trading period. While US Treasury yields unchanged, Wall Street equities opened the week with slight gains.
Housing data starts will be made public on Tuesday. The Federal Open Market Committee (FOMC) meeting gets underway. Although no change in interest rates, market will be paying close attention to the Fed Chair Powell's press conference and the dot plot, which depicts policymakers' predictions of future interest rates.
ANZ on the FOMC meeting:
We continue to view Fed data-dependent, patient, with officials open to if necessary. In our opinion, the Fed has completed its cycle of tightening, but there is still a chance that more rate increases may be required.
For the second day in a row, EUR/USD increased but ran into resistance around 1.0700, still gloomy, though. The final Consumer Price Index (CPI) reading for the Eurozone will be made public by Eurostat. Additionally, they will provide the July Current Account data.
The British pound could not increase above 1.2400. after experiencing new daily monthly lows. The EUR/GBP is above the 0.8600 in the mark. The Bank of England will make its judgment on Thursday on consumer inflation in the UK on Wednesday.
The USD/JPY pair traded sideways and suffered slight losses. The crucial resistance level to watch is around 148.00. The Bank of Japan will announce on Friday.
The USD/CHF pair maintained close to its September highs and fell to a low of 0.8670. Tuesday will see the release of trade data from Switzerland, and the Swiss National Bank (SNB)'s monetary policy meeting will take place on Wednesday.
The Canadian Dollar continued to outperform, allowing the USD/CAD to drop below 1.3500 and record its lowest daily close. The 200-day Simple Moving Average (SMA), which is located at 1.3460, is the next important support level to keep an eye on on the downside. The August Consumer Price Index (CPI) for Canada is scheduled to be released on Tuesday. A rise from 3.3% to 3.8%. This would suggest a second straight acceleration of the CPI.
The 20-day Simple Moving Average (SMA) at 0.6420, the AUD/USD currency pair, which continued to move sideways. The Reserve Bank of Australia (RBA) is expected to make public the minutes of its policy meeting from August, when decision-makers agreed to maintain 4.1%.
NZD/USD above 0.5990. The pair lacks a clear direction towards the downside the 20-day SMA. On Tuesday, the Westpac Q3 Consumer Survey is expected to be made public.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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