FOCUS OF THE WEEK!
Dear traders,
Last September’s week promises to be full of significant events, among which the data on the Fed interest rate and the US GDP deserve special attention.
A significant increase in activity in the market should be expected from Wednesday, or rather from the publication of the US Federal Reserve’s decision on interest rates. From this Fed meeting it is expected interest rates raise hike by 25 b.p. to the level of 2.25%. At the same time, the market will wait for signals to another rates increase this year, and it will be the main driver of the strengthening of the US currency.
In the second half of the week the economic calendar will be saturated with data on GDP of the United States, Britain and Canada. Also the Central Bank of New Zealand meeting results will be published. But it will have a local impact on the national currencies. The US data will dictate general moods in the market.
From the corporate calendar, it is worth highlighting McCormick & Co (MKC) expecting a very optimistic report, that will be released on Friday before the market opens.
Fundamental factors continue to have a deterrent effect on the US dollar, that may cause a significant correction in the US dollar against expectations of the Fed meeting and will also increase pressure on the American dollar. (Anton Hanzenko)
Have a good trading week!
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