By ForexTime
The exceptional list of high-risk events and top-tier economic reports could rock global financial markets in the week ahead!
All eyes will be on the central bank mashup including the Federal Reserve, Bank of England (BoE), and Bank of Japan (BoJ) among many others. Key economic data from the UK, Eurozone, and Japan to name a few will also be in focus:
Monday, September 18
Tuesday, September 19
Wednesday, September 20
Thursday, September 21
Free Reports:
Friday, September 22
Given the jampacked economic schedule, it may be wise to fasten your seatbelts and get ready for a wild ride.
Our focus falls on the September FOMC meeting which could trigger a major move on the NQ100_m.
The Federal Reserve is widely expected to leave interest rates unchanged at 5.5% at the September 19-20 meeting. However, much focus will be on what vital clues the central bank offers on future rate hikes. Investors will also be keeping a close eye on the economic projections, including the ones for interest rates known as the dot plot.
Ultimately, if Jerome Powell strikes a hawkish tone during his press conference and leaves the door open for further rates, this could boost bets around the Fed making a move before the end of 2023.
As of writing, traders have practically ruled out the possibility of a rate hike next week. However, the probability of a 25 basis point hike by November stands at 35% with this jumping to 44% by December, according to Fed funds futures.
The NQ100_m index is filled with tech stocks that dislike higher interest rates because their value is based on earnings projected in the future.
The NQ100_m remains trapped within a range on the daily charts with support at 15200 and resistance at 15630. Prices seem to be riding above the 50-day SMA while the MACD trades above zero. A breakout could be on the horizon, but this may require the assistance of a potent fundamental spark.
Zooming out, there is a larger range on the weekly charts with support at 14670 and resistance at 15840. A solid breakout and close above 15840 may inspire a move to levels not seen since January 2022 at 16500. Should prices slip below 14670, the next key level of interest can be found around 14440.
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