{"id":37729,"date":"2023-09-27T07:08:04","date_gmt":"2023-09-27T07:08:04","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/?p=37729"},"modified":"2024-01-08T17:35:54","modified_gmt":"2024-01-08T17:35:54","slug":"weekly-market-recap-an-analysis-by-fxglobe-com","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/ms\/weekly-market-recap-an-analysis-by-fxglobe-com\/","title":{"rendered":"Weekly Market Recap: An Analysis by FXGlobe.com"},"content":{"rendered":"\n

Welcome Traders,<\/p>\n\n\n\n

The past week has been brimming with market-moving data, leaving traders on their toes as they navigated through the highs and lows. Here’s a comprehensive recap.<\/p>\n\n\n\n

Economic Indicators and Market News<\/h2>\n\n\n\n

In Canada, the CPI month-over-month came in at 0.4%, surpassing the forecast of 0.2%. Similarly, the Median CPI year-over-year<\/a> outdid expectations, coming in at 4.1%.<\/p>\n\n\n\n

Across the Atlantic, in the United Kingdom, the CPI year-over-year<\/a> was reported at 6.7%, falling short of the 7.0% forecast. Meanwhile, the Monetary Policy Committee had a surprising split vote, with the official Bank Rate remaining at 5.25%.<\/p>\n\n\n\n

In the United States, the Federal Reserve kept the Federal Funds Rate<\/strong> stable at 5.50%. Additionally, Unemployment Claims improved notably, registering at 201K against the forecast of 224K. The New Zealand Dollar also impressed investors with its GDP growth of 0.9% for the quarter, defying the expected 0.4%.<\/p>\n\n\n\n

Chart Analysis: The Story So Far<\/h2>\n\n\n\n

In terms of chart movements, the U.S Dollar stayed relatively stable, with EURUSD holding above the 1.0650 mark. Gold<\/a> has remained flat for the week, and Crude Oil<\/a> enjoyed a brief retracement but ultimately closed no higher.<\/p>\n\n\n\n

Most notably, the global indices have been on a losing streak. For some, this marks the third consecutive week of closing significantly lower, reinforcing the notion that September could end up being the worst-performing month of the year.<\/p>\n\n\n\n

The S&P500 Weekly is testing support; can it recover from here?<\/h3>\n\n\n\n
\"13weekly<\/figure>\n\n\n\n

Gold Daily is testing the upside of the trendline again; let\u2019s see if it succeeds in breaking out to the upside.<\/strong><\/p>\n\n\n\n

\"13weekly<\/figure>\n\n\n\n

Oil (Weekly) is testing resistance and producing an indecision candle, which could indicate a change in direction is about to occur.<\/strong><\/p>\n\n\n\n

\"13weekly<\/figure>\n\n\n\n

EURUSD daily is trying to form a double bottom, and the coming days will see if it can turn around.<\/strong><\/p>\n\n\n\n

\"13weekly<\/figure>\n\n\n\n

What to Watch For: Key Events in the Coming Week<\/h2>\n\n\n\n

As we look ahead, several pivotal data releases are on the horizon. On Tuesday, U.S Consumer Confidence figures will be under the spotlight. Wednesday brings the Australian year-over-year CPI. Also, don’t forget to tune in for Federal Reserve Chair Powell<\/strong>‘s speech on Thursday.<\/p>\n\n\n\n

Moreover, upcoming figures on the German ifo Business Climate<\/a>, U.S Final GDP for the quarter, and many other significant events mean traders should brace themselves for another action-packed week.<\/p>\n\n\n\n

Closing Thoughts<\/h3>\n\n\n\n

The next week could potentially be extremely volatile, more so than average, so traders would be wise to manage their risk and exposure carefully.<\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome Traders, The past week has been brimming with market-moving data, leaving traders on their toes as they navigated through the highs and lows. Here’s a comprehensive recap. Economic Indicators and Market News In Canada, the CPI month-over-month came in at 0.4%, surpassing the forecast of 0.2%. Similarly, the Median CPI year-over-year outdid expectations, coming […]<\/p>\n","protected":false},"author":13,"featured_media":44749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-37729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts\/37729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/comments?post=37729"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts\/37729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/media\/44749"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/media?parent=37729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/categories?post=37729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/tags?post=37729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}