Next week, markets will continue to digest the outcomes of recent central bank meetings. Additionally, market participants will closely monitor the re
lease of economic data, with a particular focus on inflation figures from the Eurozone and the US Core Personal Consumption Expenditure index.recorded its tenth consecutive weekly gain, ending around 105.50. The DXY continues to trend upward, supported by US economic data and the recent Federal Reserve meeting.
During the FOMC meeting, interest rates were left unchanged in the range of 5.25% to 5.50%. In terms of macroeconomic projections, most members still see the possibility of further rate hikes later this year. Economic data in the US showed mixed results, with housing data coming in weaker while Jobless Claims dropped to the lowest level since January.
Next week, the key focus in the US will be on Friday's release of the Fed's preferred measure of consumer inflation, the Core Personal Consumption Expenditure Price Index. It is expected to show a decline from an annual rate of 4.2% to 3.9%. The third estimate of Q2 GDP will be released on Thursday.
The Japanese yen was among the worst-performing major currencies. The Bank of Japan left its monetary policy unchanged at the September meeting, with Governorstating that any change would only occur when the achievement of 2% inflation is in sight. Japan will release several economic indicators next Friday, including the Tokyo Consumer Price Index, Unemployment Rate, Industrial Production, Retail Sales, Consumer Confidence, and household spending for August.
The British Pound lagged following the Bank of England's decision to keep interest rates unchanged after a slowdown in inflation in August. Next Friday, the UK will release a new estimate of Q2 GDP growth.declined for the third consecutive week, reaching its lowest level since March at 1.2232, before closing around 1.2260. The pair has strong support around 1.2200.
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