The Market Horoscope – The week of September 9, 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 |
|---|---|---|---|
| 11-9-2024 | Wednesday | CPI | USD |
| 12-9-2024 | Thursday | Interest Rate | EUR |
| 12-9-2024 | Thursday | PPI | USD |
| 12-9-2024 | Thursday | Unemployment Claims | USD |
| 12-9-2024 | Thursday | ECB Press Conference | EUR |
Market Insights
The Insights
As forecasted in the previous week's horoscope here, the USD gained strength while almost all other assets declined. The unconvincing trend of Employment and Inflation numbers has got the market to take a cautionary note. Perhaps now factoring in no cuts to USD interest rates in September.
The Analysis
Expect the uncertainty to continue as we get more CPI, PPI data on the USD to be released this week. The interest rate announcement on the EUR is also likely to bring in additional volatility. With USD Interest rate announcement scheduled for next week, the market is going to be on the edge, reacting to every new piece of information becoming available.
The Timing
Thursday, Friday
The Action
Look to Short the DXY (US Dollar Index) when it reaches the 102.75 area. Look for opportunities to go Long on Equities, Gold and other currencies towards the latter part of the week.
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.