In our free Elliott wave webinar you can check some of interesting analysis with important key points below.
Some important market key points:
Federal Reserve (Fed) and the USD
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The Fed is expected to maintain its current interest rate of 5.5% with no changes anticipated.
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The Fed will likely focus on economic data and forecasts rather than increasing rates.
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Even if the Fed adopts a hawkish stance, market reactions may still be influenced by the “buy the rumor, sell the news” phenomenon.
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The U.S. Dollar Index (DXY) has increased by 6% from its summer lows, partly driven by higher energy prices, which could support a hawkish Fed stance.
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Higher energy prices can lead to higher inflation, which, in turn, can drive up yields and the value of the USD.
EUR/USD and the ECB
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The European Central Bank (ECB) has raised rates to 4.5%, and CPI is at 5.3%.
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Market outlook for EUR/USD appears to be flat or ongoing an a-b-c pattern.
GBP/USD and the BOE
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The Bank of England (BoE) is expected to increase rates from 5.25% to 5.5% on September 21.
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CPI is expected to rise to 7.1% on September 20.
USD/JPY
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No significant shifts are expected from the Bank of Japan (BoJ) meeting.
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BoJ plans for a quiet exit from yield curve control and intervention if USD/JPY nears 150.
AUD/USD + USD/CNH
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The Reserve Bank of Australia (RBA) may release meeting minutes, having kept rates on hold for the last three meetings.
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China’s still with economic issues makes aussie weak.
USD/CAD
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CAD is gaining strength due to persistent inflation concerns. 2.8% was reported in July, then up to 3.3% reported in August, and now expectations are 3.8%. So inflation is still here, that’s why CAD is showing some strength I believe, for the last week or so.
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