Important Economic Events and Currency Patterns: This week, traders should focus on important economic indicators and central bank announcements,
including U.S. consumer confidence and interest rate decisions from Australia and Switzerland.
We’ll also examine the performance of key currency pairs like USD/JPY and EUR/USD,
as well as trends in the Nasdaq index and oil prices.

Content
Important Economic Events
USDJPY

EURUSD

Nasdaq
Oil

Important Economic Events

Monday, September 23, 2024

16:45 USD: Purchasing Managers’ Index (PMI) (Manufacturing) (Services) (September)

Tuesday, September 24, 2024

07:30 AUD: Interest rate decision by the Reserve Bank of Australia (September)

17:00 USD: CB Consumer Confidence Index (September)

Wednesday, September 25, 2024

17:00 USD: New Home Sales (August)

Thursday, September 26, 2024

10:30 CHF: Interest rate decision by the Swiss National Bank (Q3)

15:30 USD: Gross Domestic Product (Quarterly) (Q2)

Friday, September 27, 2024

15:30 USD: Core Personal Consumption Expenditure Price Index (Yearly) (Monthly) (August)

USD/JPY (Dollar/Yen)

Despite the weakness of the US dollar, the USDJPY pair experienced some upward movement
at the end of last week’s trading following the Japanese central bank’s decision to keep interest rates unchanged.
This weakened the yen and boosted Japanese stocks, causing the pair to trade at 143.85,
close to the downward trendline.
If this line is broken, the pair may continue its upward trend, targeting 147.27.
However, if weakness appears around the current levels and drops below 143.50,
the pair could resume a downward trend, targeting 140 again.

EUR/USD (Euro/USD)

The EURUSD pair saw significant gains at the end of last week, reaching 1.1160,
near the main resistance level around 1.1200.
The US dollar is expected to weaken further in the coming period
after the Federal Reserve cut interest rates by 50 basis points last week,
shifting to an accommodative policy. This will likely increase the weakness of the dollar.
If the pair closes above 1.1200, it could continue upward movement, targeting resistance levels around 1.1353.

NASDAQ

The NASDAQ index experienced a volatile session at the end of last week’s trading after statements
from some Federal Reserve members indicated that inflation had not been entirely defeated yet.
This hurt US stock trading. The NASDAQ bounced off the minor resistance level around 19,923,
suggesting a slight downward correction to 19,472 before resuming its upward movement towards the index’s peak around 20,686.

Oil

Oil prices rose significantly during last week’s trading after the Federal Reserve’s 50 basis point rate cut,
boosting expectations of increased demand from the US in the coming periods.
Oil prices reached 31.19, near the pivot levels around 71.4.
Oil needs to stabilize above these levels to continue rising toward 73.77 and then 77.6 in the medium term,
especially with escalating geopolitical tensions, which could further support oil prices.

Important Economic Events and Currency Patterns

Important Economic Events and Currency Patterns

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