{"id":14260,"date":"2024-09-11T10:00:15","date_gmt":"2024-09-11T10:00:15","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=14260"},"modified":"2025-02-16T10:55:28","modified_gmt":"2025-02-16T10:55:28","slug":"forex-market-analysis-9-september-2024-2","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-9-september-2024-2\/","title":{"rendered":"Forex market analysis: 11 September 2024"},"content":{"rendered":"\n<p>As we hit midweek, Wednesday, 11 September 2024, brings some important economic data and developments that could stir up market movements. Investors remain cautious, keeping a close eye on inflation and central bank signals as key events unfold.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>KEY INDICATORS<\/strong><\/h1>\n\n\n\n<p><strong>US inflation data ahead<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The main focus today will be the release of the US Consumer Price Index (CPI) report for August.<\/li>\n\n\n\n<li>This inflation data will provide critical insights into whether inflationary pressures are easing or persisting.<\/li>\n\n\n\n<li>Any surprises could impact the market\u2019s expectations for the Federal Reserve\u2019s interest rate decision next week.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Tech sector under watch<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The tech-heavy Nasdaq may see some volatility, with rising interest rate concerns continuing to put pressure on high-growth stocks.<\/li>\n\n\n\n<li>Investors are likely to adjust their positions based on the inflation report and upcoming Fed decisions, making today a crucial day for tech traders.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Global markets reaction<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>European and Asian markets will also be in focus, reacting to their own inflation concerns and economic data.<\/li>\n\n\n\n<li>Any ripple effects from US CPI data could influence global markets, especially as inflation remains a key worry across major economies.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>ECONOMIC EVENTS<\/strong><\/h1>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"654\" height=\"156\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/20240911-120346.jpg\" alt=\"\" class=\"wp-image-14261\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240911-120346.jpg 654w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240911-120346-300x72.jpg 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240911-120346-500x119.jpg 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240911-120346-400x95.jpg 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240911-120346-350x83.jpg 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240911-120346-200x48.jpg 200w\" sizes=\"auto, (max-width: 654px) 100vw, 654px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>MARKET MOVERS<\/strong><\/h1>\n\n\n\n<p><strong>EUR\/GBP<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"588\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_1-1024x588.png\" alt=\"\" class=\"wp-image-14262\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_1-1024x588.png 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_1-300x172.png 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_1-768x441.png 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_1-500x287.png 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_1-400x230.png 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_1-350x201.png 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_1-200x115.png 200w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_1.png 1185w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Potential long outlook<\/strong><br>Intraday bias stays neutral. Further decline is expected with 0.84469 resistance intact.<br><strong>Alternative scenario<\/strong><br>On the downside, below 0.84269 will resume the fall and target 0.84170 support. Firm break there will resume larger down trend.<br><strong>Bearish outlook persists, pair continues sideways trading<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Nasdaq 100<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"589\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_2-1024x589.png\" alt=\"\" class=\"wp-image-14263\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_2-1024x589.png 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_2-300x173.png 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_2-768x442.png 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_2-500x288.png 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_2-400x230.png 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_2-350x201.png 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_2-200x115.png 200w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_2.png 1118w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Potential long preference<\/strong><br>Long positions above 18908.25 with targets at 18987.75 &amp; 19077.71 in extension.<br><strong>Alternative scenario<\/strong><br>Below 18688.58 look for further downside with 18600.71 &amp; 18502.38 as targets.<br><strong>Nasdaq 100 in potential retreat as market participants brace for CPI<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>GBP\/USD<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"591\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_3-1024x591.png\" alt=\"\" class=\"wp-image-14264\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_3-1024x591.png 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_3-300x173.png 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_3-768x443.png 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_3-500x288.png 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_3-400x231.png 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_3-350x202.png 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_3-200x115.png 200w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240911_3.png 1104w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Potential long preference<\/strong><br>Long positions above 1.30939 with targets at 1.31023 &amp; 1.31088 in extension.<br><strong>Alternative scenario<\/strong><br>Below 1.30714 look for further downside with 1.30597 &amp; 1.30515 as targets.<br><strong>GBP\/USD reverses below 1.3100 after dismal UK data, US CPI eyed<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>TODAY\u2019S NEWS HEADLINES<\/strong><\/h1>\n\n\n\n<p><strong>Pound to euro rate firms following UK and German data releases<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>GBP\/EUR traded at around EUR 1.1863, up roughly 0.2% from Tuesday\u2019s opening rate.<\/li>\n\n\n\n<li>The unemployment rate fell to 4.1% in July, down from 4.2%, boosting the GBP exchange rate.<\/li>\n\n\n\n<li>Despite signs of persistent wage growth, the pound managed to stay above ground as markets remained confident that the Bank of England (BoE) would hold its current interest rate in the coming week\u2019s decision.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Gold prices rise, near record high in wake of fiery presidential debate<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gold prices rose in Asian trade on Wednesday and were close to record highs as a fiery debate between <a href=\"https:\/\/blog.vtmarkets.net\/blog\/research\/how-the-us-election-impacts-the-stock-market\/\" target=\"_blank\" rel=\"noopener\" title=\"presidential candidates\">presidential candidates<\/a> Kamala Harris and Donald Trump raised uncertainty over the 2024 elections.<\/li>\n\n\n\n<li>Spot gold rose 0.1% to USD 2,519.73 an ounce.<\/li>\n\n\n\n<li>Gold futures expiring in December rose 0.2% to USD 2,548.45 an ounce by 00:19 ET (04:19 GMT).<\/li>\n\n\n\n<li>Platinum futures rose 0.1% to USD 945.50 an ounce.<\/li>\n\n\n\n<li>Silver futures rose 0.6% to USD 28.777 an ounce.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>European Central Bank set to cut interest rates just days before the Fed\u2019s big decision<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Traders are widely anticipating an interest rate cut at the Federal Reserve\u2019s 17-18 September meeting, as well as at the <a href=\"https:\/\/www.ecb.europa.eu\/home\/html\/index.en.html\" target=\"_blank\" rel=\"noopener nofollow\" title=\"ECB\u2019s meeting\">ECB\u2019s meeting<\/a> this week.<\/li>\n\n\n\n<li>Euro zone inflation has come down.<\/li>\n\n\n\n<li>Headline figures hit a three-year low in August with a reading of 2.2%, while core inflation by contrast is still more elevated at 2.8% with services prices pulling up that metric.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>Click <a href=\"https:\/\/www.vtmarkets.net\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\" target=\"_blank\" rel=\"noopener\" title=\"here\">here<\/a> to open account and start trading.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As we hit midweek, Wednesday, 11 September 2024, brings some important economic data and developments that could stir up market movements. Investors remain cautious, keeping a close eye on inflation and central bank signals as key events unfold. KEY INDICATORS US inflation data ahead Tech sector under watch Global markets reaction ECONOMIC EVENTS MARKET MOVERS <a href=\"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-9-september-2024-2\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-14260","post","type-post","status-publish","format-standard","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/14260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=14260"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/14260\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=14260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=14260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=14260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}