The Market Horoscope – The week of September 16, 2024
Welcome to The Market Horoscope, our weekly publication providing insights into the financial markets. We analyze stocks, commodities, cryptocurrencies, and forex to forecast potential market movements and help you navigate the complex market landscape.
Market Outlook
Key Economic Events This Week:
| Date | Day | Event/ Report | Currency |
|---|---|---|---|
| 17-9-2024 | Tuesday | CPI | CAD |
| 17-9-2024 | Tuesday | Retail | USD |
| 18-9-2024 | Wednesday | CPI | GBP |
| 18-9-2024 | Wednesday | Interest Rate | USD |
| 19-9-2024 | Thursday | Interest Rate | GBP |
| 19-9-2024 | Thursday | Unemployment Claims | USD |
| 20-9-2024 | Friday | Interest Rate | JPY |
| 20-9-2024 | Friday | Retail | CAD |
Market Insights
The Insights
As per last weeks' horoscope here, the USD continued its weakness. Equities, Oil, Gold and other currencies found some strength. Overall, all assets were sideways, with no major new highs or lows created (except for Gold).
The Analysis
With the all important announcement of the USD interest rate announcement on Wednesday, the markets are going to be very volatile. The expectation is a rate cut of 25 basis points. Interest rates have been maintained at the peak for the past 5 quarters. USD is the last major currency to cut rates. If for some reason, the decision is to hold instead of to cut, there will be a major rally on the USD. If the cut comes as per the forecast, and there is a hike on JPY interest rate (as opposed to the forecasted Hold), then there will be a huge drop on the USDJPY, and most Yen pairs will drop significantly.
The Timing
Wednesday through Friday
The Action
Short USD versus other pairs. Long Equities, Gold and other currencies
Having a solid understanding of the economic cycle is crucial. Reacting to news and reports in real-time can be counterproductive. We are committed to providing accurate market forecasts and welcome your feedback and questions on our predictions. Your engagement helps us refine our insights and better serve you.
Note: Our predictions are based on current data and market trends. Before making investment decisions, consider your risk tolerance and consult a financial advisor.