Key Economic Events and Market Drivers for September 16-20, 2024: FOMC, Inflation, and Crude Oil Reports
As we enter the week of September 16-20, traders should keep an eye on several key economic releases and events across the globe. Central bank decisions, inflation data, and oil inventories will be some of the main drivers of market volatility. All times listed below are in GMT (Coordinated Universal Time, GMT+0).
Monday, September 16:
- Japan: Respect for the Aged Day (Holiday)
- China: Mid-Autumn Festival (Holiday)
Market activity will be limited due to public holidays in Japan and China, which may affect JPY and CNY pairs. Expect lower trading volumes.
Tuesday, September 17:
- China: Mid-Autumn Festival (Holiday)
- 12:30 – USD: Core Retail Sales (MoM) (Aug)
- 12:30 – USD: Retail Sales (MoM) (Aug)
Retail sales figures from the U.S. will give important insights into consumer spending, impacting USD-based currency pairs such as EUR/USD and GBP/USD, as well as U.S. stock index CFDs.
Wednesday, September 18:
- Hong Kong: Mid-Autumn Festival (Holiday)
- 06:00 – GBP: CPI (YoY) (Aug)
- 09:00 – EUR: CPI (YoY) (Aug)
- 14:30 – USD: Crude Oil Inventories
- 18:00 – USD: FOMC Economic Projections
- 18:00 – USD: FOMC Statement
- 18:00 – USD: Fed Interest Rate Decision
- 18:30 – USD: FOMC Press Conference
The U.K. and Eurozone inflation reports will shape expectations for future monetary policy, affecting GBP and EUR pairs. The U.S. crude oil inventories may influence oil CFDs. However, the focus will be on the Federal Reserve’s key announcements: the FOMC statement, economic projections, and interest rate decision, which are expected to create volatility in USD-based assets. The subsequent press conference may provide further insights into the Fed’s outlook, impacting U.S. stock indices, USD currency pairs, and commodities such as gold.
Thursday, September 19:
- 11:00 – GBP: BoE Interest Rate Decision(Sep)
- 12:30 – USD: Initial Jobless Claims
- 12:30 – USD: Philadelphia Fed Manufacturing Index (Sep)
- 14:00 – USD: Existing Home Sales (Aug)
The Bank of England’s rate decision will likely create volatility in GBP/USD and FTSE 100 index CFDs. U.S. labor market data and manufacturing insights could influence U.S. stock indices and forex pairs.
Friday, September 20:
- 03:00 – JPY: BoJ Interest Rate Decision
The Bank of Japan’s interest rate decision could lead to significant movements in JPY currency pairs and the Nikkei index CFDs, particularly if there are surprises regarding monetary easing policies.
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