Top Forex Brokers – Forex Weekly news and analysis For September 30 – October 6, 2024

Top Forex Brokers – Forex Weekly news and analysis For September 30 – October 6, 2024

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Weekly Wrap-Up

  • RBA kept cash rate at 4.35% in Sep 2024, unchanged for 7th straight meeting. 
  • Australia’s annual CPI rose 2.7% in Aug 2024, down from 3.5% in July. 
  • US durable goods orders unchanged MoM in Aug 2024, following 9.8% surge in July. 
  • US GDP grew 3% annualized in Q2 2024, unchanged from second estimate. 
  • US core PCE price index rose 0.1% MoM in Aug 2024, slowing from 0.2% in July. 
  • SNB cut policy rate by 25bps to 1% in Sep 2024, lowest since early 2023.

This Week’s Highlights

This week’s key economic releases are scheduled as follows:

  • Eurozone Core CPI Flash Estimate y/y (Tuesday) 
  • US ISM Manufacturing PMI (Tuesday) 
  • US JOLTS Job Openings (Tuesday) 
  • US ADP Non-Farm Employment Change (Wednesday) 
  • US ISM Services PMI (Thursday) 
  • US Non-Farm Employment Change (Friday) 
  • US Unemployment Rate (Friday) 
  • US Average Hourly Earnings m/m (Friday)

Pair of the Week 

XAU/USD

This week, expect high volatility in the XAU/USD pair due to US labor data such as non-farm employment change and unemployment figures. 

Resistance: $2,685.16; $2,711.84 

Support: $2,642.91; $2,611.79

USD/JPY

This week, expect high volatility in the USD/JPY pair due to US labor data such as non-farm employment change and unemployment figures. 

Resistance: 144.44; 146.47 

Support: 141.67; 139.58

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