A Week in the Market: CB and OPEC+ Meetings (5 September – 9 September)

[RoboForex]

A Week in the Market: CB and OPEC+ Meetings (5 September - 9 September)

This week will belong to Central Banks that will have to raise the interest rates once again, as well as to monetary politicians giving comments, and a little flow of statistics.

Brent: focused on OPEC+

An OPEC+ meeting is expected, where plans for October will be discussed. Quotes are likely to remain as before. For Brent prices, this means as limited supply as before with a potential for growth.

USD: force in USD

Important American statistics will be not as abundant as usual. Special attention should be paid to the publication about consumer crediting volumes. Moreover, many monetary politicians are planning to deliver speeches. The USD is strong thanks to demand for safe-haven assets.

EUR: horizons get darker

The Euro zone is getting ready for the upcoming energy crisis and the winter season. It will publish the PMI in services, the investor confidence index, and the retail sales index. Moreover, there will be an ECB meeting, where the interest rate is going to be increased. The EUR is not excluded to fall.

AUD: RBA is going to raise rate

At the meeting of the Reserve Bank of Australia, the interest rate is likely to be increased from 1.85% to 2.35%. The regulator is aiming to catch up with the course and rhythm of the Fed's monetary policy, in accordance with the scale and peculiarities of domestic economy. In the AUD, an increase in the crediting prices is included, but some fluctuations might be provoked by the comments of the RBA.

JPY: devaluation is speeding up

The JPY is falling again, every day faster. This week, it may count on the support from statistics: Japan will issue info about household spending. This index might have grown by 4.5%, from 3.5% previously. This report is leading for the global inflation report and might cool the JPY down.

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