{"id":36597,"date":"2023-09-12T08:50:29","date_gmt":"2023-09-12T08:50:29","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/?p=36597"},"modified":"2024-01-08T17:36:18","modified_gmt":"2024-01-08T17:36:18","slug":"fxglobe-weekly-market-review-a-pivotal-week-for-traders","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/vi\/fxglobe-weekly-market-review-a-pivotal-week-for-traders\/","title":{"rendered":"FXGlobe Weekly Market Review: A Pivotal Week for Traders"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">A Recap of This Week&#8217;s Economic Data<\/h2>\n\n\n\n<p>This week, the Australian Dollar was in focus, with its Cash Rate standing steady at 4.10%. Likewise, its <a href=\"https:\/\/www.fxglobe.com\/from-volatility-to-vital-indicators-heres-your-trading-compass\/\" data-type=\"post\" data-id=\"35723\">GDP numbers<\/a> showed a moderate increase of 0.4% on a quarterly basis. In Canada, the Bank of Canada kept its Overnight Rate at 5.00%, with Governor Macklem speaking later in the week. For the United States, the ISM Services PMI outperformed expectations, coming in at 54.5 compared to the forecasted 52.5. <a href=\"https:\/\/www.fxglobe.com\/a-pivotal-week-for-the-financial-markets\/\" data-type=\"post\" data-id=\"35964\">Unemployment Claims<\/a> were slightly better than last week, reported at 216K.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">In the Charts<\/h3>\n\n\n\n<p>The U.S. Dollar reigns supreme for the eighth consecutive week, pushing down on <a href=\"https:\/\/www.fxglobe.com\/the-hidden-truths-of-major-currencies-revealed\/\" data-type=\"post\" data-id=\"32618\">major currencies<\/a> such as the Euro and the Pound. Precious metals like Gold and Silver also saw declines. Surprisingly, Crude oil broke the trend, ending the week on a positive note.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What&#8217;s Coming Up? The Economic Calendar for Next Week<\/h3>\n\n\n\n<p><strong>Tuesday, September 12<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>GBP: Keep an eye on the Claimant Count Change scheduled for release at 7:00 a.m.<\/li>\n<\/ul>\n\n\n\n<p><strong>Wednesday, September 13<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>GBP: GDP m\/m expected to be 0.5%.<\/li>\n\n\n\n<li>USD: Core CPI and CPI data will be out at 1:30pm.<\/li>\n<\/ul>\n\n\n\n<p><strong>Thursday, September 14<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>AUD: Employment Change and Unemployment Rate set to be announced early in the morning.<\/li>\n\n\n\n<li>EUR: The Main Refinancing Rate and <a href=\"https:\/\/www.fxglobe.com\/global-economic-update-charts-currencies-indices\/\" data-type=\"post\" data-id=\"35216\">Monetary Policy Statement<\/a> due at 1:15pm.<\/li>\n\n\n\n<li>USD: Core PPI and Retail Sales data out at 1:30pm.<\/li>\n<\/ul>\n\n\n\n<p><strong>Friday, September 15<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>USD: The <a href=\"https:\/\/www.newyorkfed.org\/survey\/empire\/empiresurvey_overview\">Empire State Manufacturing Index<\/a> will be released at 1:30pm, followed by Prelim UoM Consumer Sentiment at 3:00pm.<\/li>\n<\/ul>\n\n\n\n<p>Here\u2019s an interesting chart for traders this coming week, Crude Oil 4hour currently consolidating, and could break out to the upside, or retrace lower before resuming its <a href=\"https:\/\/www.fxglobe.com\/eurnzd\/\" data-type=\"post\" data-id=\"29447\">bullish momentum<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/09\/11.weekly8sep2023_usoil_spoth4-1024x576.png\" alt=\"weekly 8 sep 2023 us oil spot H4 timeframe\" class=\"wp-image-36610\" srcset=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/09\/11.weekly8sep2023_usoil_spoth4-1024x576.png 1024w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/09\/11.weekly8sep2023_usoil_spoth4-300x169.png 300w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/09\/11.weekly8sep2023_usoil_spoth4-768x432.png 768w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/09\/11.weekly8sep2023_usoil_spoth4-1536x864.png 1536w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/09\/11.weekly8sep2023_usoil_spoth4.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>With a week full of data releases ahead, traders should be vigilant and plan their strategies carefully. Understanding both current <a href=\"https:\/\/www.fxglobe.com\/10-most-traded-currencies\/\" data-type=\"post\" data-id=\"24573\">trends and upcoming economic events<\/a> is crucial for any informed trading strategy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Recap of This Week&#8217;s Economic Data This week, the Australian Dollar was in focus, with its Cash Rate standing steady at 4.10%. Likewise, its GDP numbers showed a moderate increase of 0.4% on a quarterly basis. In Canada, the Bank of Canada kept its Overnight Rate at 5.00%, with Governor Macklem speaking later in [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":44851,"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-36597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/posts\/36597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/comments?post=36597"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/posts\/36597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/media\/44851"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/media?parent=36597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/categories?post=36597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/tags?post=36597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}