Market Opportunities : Week 18-09-2023 - 22-09-2023

USDIDX: Federal Reserve interest rate decision is the key event in the September 18 - 22 week. Fed chair Jerome Powell will hold a conference on September 20. Several members of Federal Open Market Committee have voiced their support for need to stem high inflation. Recent higher August inflation data give support to likelihood of another rate hike at the meeting. Majority of traders expect the benchmark rate will be held unchanged at 5.5%. In case the Fed raises interest rates by 25 basis points at its September 20 meeting the USDIDX will get a bullish boost. impulse.

GBPUSD: Bank of England (BOE) interest rate decision due on September 21 is an important economic event. BOE surprised markets by raising interest rates 50 basis points at its June meeting and then raised rates another 25 basis points at August meeting to current 5.25% rate. A BOE decision to raise rates at its September meeting will be bullish for GBPUSD.