{"id":69672,"date":"2023-09-18T11:51:05","date_gmt":"2023-09-18T08:51:05","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=69672"},"modified":"2025-11-19T13:45:21","modified_gmt":"2025-11-19T11:45:21","slug":"feds-interest-rate-decision-in-sight","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/en\/feds-interest-rate-decision-in-sight\/","title":{"rendered":"Fed\u2019s interest rate decision in sight"},"content":{"rendered":"\n<p>The USD despite a slight correction lower on Friday was able to close its ninth week in the greens against its counterparts. Despite the better-than-expected industrial data from the US for August, September\u2019s consumer sentiment seems to be turning more pessimistic in the US and it tended to weigh on the USD. In the coming week, we highlight the release of the Fed\u2019s interest rate decision, and the market has almost fully priced in the possibility of the bank remaining on hold. Yet there still are inflationary pressures in the US economy that need the bank\u2019s attention. Should the bank signal the end of its rate hiking cycle we expect the USD to lose considerable ground, while US stock markets may rejoice.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Fed&#039;s interest rate decision in view\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/KF55Ubn_GEQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>After a rather easy-going European session today we note from Canada the release of the number of House starts and the producer\u2019s price growth rates, both being for August.<\/p>\n\n\n\n<p>On a technical level, we note that USD\/CAD edged lower on Friday, yet the overall sideways motion between the 1.3450 (S1) and the 1.3565 (R1) levels seems to be maintained, we tend to maintain our bias for the sideways motion to continue yet we would also like to point out that the RSI indicator remains below the reading of 50 which may imply some bearish tendencies for the pair. Should the bears take over, we may see it breaking the 1.3450 (S1) support line and start aiming for the 1.3315 (S2) support base. Should the bulls be in charge we may see the pair breaking the 1.3565 (R1) line and aim for the 1.3660 (R2) resistance level.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;<\/p>\n\n\n\n<p>Oil traders on the other hand may be more interested in the speech of Saudi Arabia\u2019s Energy Minister Abdulaziz bin Salman Al Saud at the World Petroleum Congress in Calgary, Canada. During tomorrow\u2019s Asian session, we note the release from Australia of RBA\u2019s September meeting minutes.<\/p>\n\n\n\n<p>AUD\/USD edged a bit higher during today\u2019s Asian session, yet tended to remain firmly between the 0.6400 (S1) support line and the 0.6515 (R1) resistance level. Given the upward trendline guiding the pair we tend to maintain a bullish outlook for the pair, yet we tend to doubt that the pair will be able to mark a higher peak than the last one and note that the RSI indicator runs along the reading of 50 implying a rather indecisive market which in turn may allow the pair to stabilise. Should the bulls maintain control over the pair we may see the pair breaking the 0.6515 (R1) resistance hurdle aiming for higher grounds. Should the bears take over, we expect the pair to break clearly the prementioned upward trendline, in a first signal that the upward motion was interrupted and continue lower to break the 0.6400 (S1) support barrier clearly before it takes the 0.6285 (S2) support level into its sights.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week:<\/strong><\/h2>\n\n\n\n<p>On Tuesday we get Eurozone\u2019s final HICP rate and Canada\u2019s CPI rates both for the month of August. On Wednesday we make a start with Japan\u2019s trade data, followed the UK\u2019s CPI data, both for the month of August while monetary-wise wise we highlight the Fed\u2019s interest rate decision. On Thursday, we note New Zealand\u2019s GDP rate for Q2, France\u2019s overall business climate figure for September, the US weekly initial jobless claims figure, the US Philly FED business index for September and the Eurozone\u2019s Preliminary consumer confidence figure for September. On Thursday we also get the SNB\u2019s, Riksbank\u2019s, Norgesbank\u2019s, BOE\u2019s and from Turkey CBT\u2019s interest rate decisions. On Friday, we note BoJ\u2019s interest rate decision and we also get Australia\u2019s preliminary Judo Bank manufacturing PMI figure for September, Japan\u2019s CPI rates for August and preliminary JiBunBK manufacturing PMI figure for September, followed by the UK\u2019s retail sales rate for August, France\u2019s, Germany\u2019s, the Eurozone\u2019s, UK\u2019s and the US preliminary S&amp;P PMI figures for September as well as UK\u2019s CBI trends figure also for the month of September and lastly Canada\u2019s retail sales rate for July. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-cad-daily-chart\"><strong>USD\/CAD Daily Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/09\/image-84.png\" alt=\"support at one point three four five and resistance at one point three five six five, direction sideways \" class=\"wp-image-69673\" title=\"usd-cad-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.3450 (S1), 1.3315 (S2), 1.3225 (S3)<\/p>\n\n\n\n<p>Resistance: 1.3565 (R1), 1.3660 (R2), 1.3800 (R3)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-4h-chart\"><strong>AUD\/USD 4H Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/09\/image-85.png\" alt=\"support at zero point six four and resistance at zero point six five one five, direction upwards \" class=\"wp-image-69674\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6400 (S1), 0.6285 (S2), 0.6170 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6515 (R1), 0.6620 (R2), 0.6725 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1995\" height=\"491\" src=\"\/wp-content\/uploads\/2023\/09\/image-86.png\" alt=\"\" class=\"wp-image-69675\" title=\"benchmark-18-09-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1087\" height=\"620\" src=\"\/wp-content\/uploads\/2023\/09\/image-88.png\" alt=\"\" class=\"wp-image-69677\" title=\"table-18-09-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1737\" height=\"945\" src=\"\/wp-content\/uploads\/2023\/09\/image-87.png\" alt=\"\" class=\"wp-image-69676\" title=\"morning-releases-18-09-2023\"\/><\/figure>\n\n\n\n<p>If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:reseach_team@ironfx.com\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The USD despite a slight correction lower on Friday was able to close its ninth week in the greens against<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-69672","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Forex blog - IronFX\u2122 | Fed\u2019s interest rate decision in sight<\/title>\n<meta name=\"description\" content=\"USD edges lower before Fed decision; sideways USD\/CAD and cautious AUD\/USD as markets await key CPI, PMI and central bank updates.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/en\/wp-json\/wp\/v2\/posts\/69672\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed\u2019s interest rate decision in sight\" \/>\n<meta property=\"og:description\" content=\"USD edges lower before Fed decision; sideways USD\/CAD and cautious AUD\/USD as markets await key CPI, PMI and central bank updates.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/en\/feds-interest-rate-decision-in-sight\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-18T08:51:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-19T11:45:21+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/feds-interest-rate-decision-in-sight\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/feds-interest-rate-decision-in-sight\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"Fed\u2019s interest rate decision in sight\",\"datePublished\":\"2023-09-18T08:51:05+00:00\",\"dateModified\":\"2025-11-19T11:45:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/feds-interest-rate-decision-in-sight\\\/\"},\"wordCount\":799,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/feds-interest-rate-decision-in-sight\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/feds-interest-rate-decision-in-sight\\\/\",\"name\":\"Forex blog - IronFX\u2122 | Fed\u2019s interest rate decision in sight\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#website\"},\"datePublished\":\"2023-09-18T08:51:05+00:00\",\"dateModified\":\"2025-11-19T11:45:21+00:00\",\"description\":\"USD edges lower before Fed decision; sideways USD\\\/CAD and cautious AUD\\\/USD as markets await key CPI, PMI and central bank updates.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/feds-interest-rate-decision-in-sight\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/feds-interest-rate-decision-in-sight\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/feds-interest-rate-decision-in-sight\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fed\u2019s interest rate decision in sight\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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