Top Forex Brokers – Forex Weekly news and analysis For September 23 – 29, 2024
Weekly Wrap-Up
- US retail sales edged up 0.1% MoM in Aug 2024, following 1.1% surge in July.
- Federal Reserve cut fed funds rate by 50bps to 4.75%-5% in Sep 2024.
- Bank of England kept Bank Rate at 5% in Sep 2024, following Aug cut.
- Japan’s annual inflation rose to 3.0% in Aug 2024, highest since Oct 2023.
- BoJ kept short-term rate at 0.25% in Sep, highest since 2008.
- UK retail sales jumped 1% mom in Aug 2024, up from 0.7% in July.
This Week’s Highlights
This week’s key economic releases are scheduled as follows:
- US Flash Services PMI (Monday)
- UK Flash Services PMI (Monday)
- Australian Cash Rate (Tuesday)
- Swiss National Bank Policy Rate (Thursday)
- US Final GDP q/q (Thursday)
- US Core PCE Price Index m/m (Friday)
Pair of the Week
AUD/USD
This week, expect high volatility in the AUD/USD pair due to the Reserve Bank of Australia rate decision and various economic events in the US.
Resistance: 0.6895; 0.6987
Support: 0.6729; 0.6629
USD/CHF
This week, expect high volatility in the USD/CHF pair due to the Swiss National Bank rate decisions and various economic events in the US.
Resistance: 0.8613; 0.8727
Support: 0.8406; 0.8303
