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Trends & Analysis
News

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News

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Weekly Market Preview

Week Ahead Preview:

18th of September

 

Friday, Sep 15, 2023

This week is poised to be pivotal for investors, featuring crucial economic data and significant rate decisions from major central banks. In a surprising move during its last meeting, the European Central Bank (ECB) raised interest rates by 25 basis points, catching the market off guard. However, this move didn’t result in a significant positive impact on the Euro’s price. The ECB hinted that this rate hike might mark the conclusion of the ongoing rate hikes cycle.

Simultaneously, market attention is keenly directed toward the Federal Open Market Committee (FOMC) meeting. Market expectations lean towards the Fed maintaining the current rates at 5.5%, with any potential action more likely to occur in the November meeting. During this meeting, the Fed will also release crucial data, including inflation and growth projections, accompanied by the dot plot illustrating FOMC members’ expectations for interest rates in both the short and long terms.

Furthermore, the Bank of England (BoE) is anticipated to increase rates by 25 basis points in the upcoming meeting this week. However, the nature of this hike is expected to be dovish, given hints from the BoE governor indicating that UK interest rates are nearing a peak.

While there’s a growing likelihood that some central banks may halt their rate hikes, it’s important to note that this doesn’t necessarily imply an imminent rate cut. Interest rates may remain elevated for an extended period, reinforcing the theme of “higher for longer.”

 

Economic Data Highlights

 

Monday 18th of September
  • CAD- Housing starts (Aug)
Tuesday 19th of September
  • EUR- Inflation rates (Aug)
  • USD- Housing starts (Aug)
  • CAD- Inflation rates (Aug)
Wednesday  20th of September
  • GBP- Inflation rates (Aug)
  • US Crude oil inventories
  • FOMC Interest rate decision
  • Fed Chair press conference
  • Thursday 21th of September
  • NZD – GDP (Q2)
  • SNB interest rates decision
  • BoE interest rates decision
  • USD- Home sales (Aug)
Friday 22nd of September
  • JPY- Inflation rates (Aug)
  • BoJ interest rates decision
  • GBP- Retail sales (Aug)
  • EUR- S&P Manufacturing & Services PMI (Sep)
  • GBP- S&P Manufacturing & Services PMI (Sep)
  • USD- S&P Manufacturing & Services PMI (Sep)
  • CAD- Retail Sales (Jul)

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