{"id":14327,"date":"2024-09-23T14:29:15","date_gmt":"2024-09-23T14:29:15","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=14327"},"modified":"2025-02-16T10:55:27","modified_gmt":"2025-02-16T10:55:27","slug":"forex-market-analysis-23-september-2024","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-23-september-2024\/","title":{"rendered":"Forex market analysis: 23 September 2024"},"content":{"rendered":"\n<p>As the final full week of September begins, markets will be digesting key developments from the prior week, particularly the outcome of the US Federal Reserve\u2019s policy meeting and global inflation data. Investors will focus on the impact of central bank actions, geopolitical risks, and corporate earnings. The first trading day of the week may set the tone for broader market sentiment.<\/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>Post-Fed sentiment<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Investors are continuing to assess the <a href=\"https:\/\/www.federalreserve.gov\/mediacenter\/files\/FOMCpresconf20240918.pdf\" target=\"_blank\" rel=\"noopener nofollow\" title=\"Fed\u2019s policy\">Fed\u2019s policy<\/a> stance and its implications for inflation, interest rates, and economic growth.<\/li>\n<\/ul>\n\n\n\n<p><strong>Global economic data<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>German business sentiment and other global indicators will help shape the outlook for the European and global economies.<\/li>\n<\/ul>\n\n\n\n<p><strong>Oil prices and inflation concerns<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Rising energy costs will remain a focal point for inflation fears and market volatility.<\/li>\n\n\n\n<li>Oil prices rose after the Federal Reserve cut interest rates sharply last week and announced the start of an easing cycle.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/20240923-164448.jpg\" alt=\"\" class=\"wp-image-14328\" \/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"654\" height=\"533\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/20240923-164509.jpg\" alt=\"\" class=\"wp-image-14329\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240923-164509.jpg 654w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240923-164509-300x244.jpg 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240923-164509-368x300.jpg 368w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240923-164509-400x326.jpg 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240923-164509-350x285.jpg 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/20240923-164509-200x163.jpg 200w\" sizes=\"auto, (max-width: 654px) 100vw, 654px\" \/><\/figure><\/div>\n\n\n<p><\/p>\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>XAU\/USD<\/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_20240923_1-1024x589.png\" alt=\"\" class=\"wp-image-14330\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_1-1024x589.png 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_1-300x173.png 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_1-768x442.png 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_1-500x288.png 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_1-400x230.png 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_1-350x201.png 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_1-200x115.png 200w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_1.png 1160w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Long holding preference<\/strong><br>Long positions above 2630.53 with targets at 2634.96 &amp; 2642.04 in extension.<br><strong>Alternative scenario<\/strong><br>Below 2618.13 look for further downside with 2611.04 &amp; 2605.50 as targets.<br><strong>Gold held steady around USD 2,620 per ounce on Monday, remaining at fresh record highs after surpassing the USD 2,600 mark last week.<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>USD\/JPY<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"593\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_2-1024x593.png\" alt=\"\" class=\"wp-image-14331\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_2-1024x593.png 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_2-300x174.png 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_2-768x445.png 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_2-500x290.png 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_2-400x232.png 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_2-350x203.png 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_2-200x116.png 200w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_2.png 1106w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Potential short preference<\/strong><br>Short positions below 143.490 with targets at 143.270 &amp; 142.884 in extension.<br><strong>Alternative scenario<\/strong><br>Above 144.028 look for further upside with 144.232 &amp; 144.437 as targets.<br><strong>A break above the upper level of the channel would lead to a momentum shift from bearish to bullish bias.<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Crude Oil (WTI)<\/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_20240923_3-1024x589.png\" alt=\"\" class=\"wp-image-14332\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_3-1024x589.png 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_3-300x173.png 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_3-768x442.png 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_3-500x288.png 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_3-400x230.png 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_3-350x201.png 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_3-200x115.png 200w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/09\/dma_20240923_3.png 1093w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Potential short preference<br><\/strong>Short positions below 70.87 with targets at 70.46 &amp; 69.91 in extension.<br><strong>Alternative scenario<br><\/strong>Above 71.34 look for further upside with 72.04 &amp; 72.93 as targets.<br><strong>Crude oil remains trading at elevated levels on Monday after severe bombings in Lebanon during the weekend.<\/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>Oil edges higher US interest rate cut counters weak demand<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The oil prices rose slightly on Monday after last week\u2019s cut to US interest rates and a dip in US crude supply in the aftermath of Hurricane Francine countered weaker demand from top oil importer China.<\/li>\n\n\n\n<li>Brent crude futures for November edged up by 14 cents, or 0.19%, to USD 74.63 a barrel by 0815 GMT.<\/li>\n\n\n\n<li>US crude futures for November were up 16 cents, or 0.23%, at USD 71.16.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Europe markets higher; French and German PMIs disappoint<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>European stocks were slightly higher Monday as investors assessed banking deals and German and French business activity data pointing to renewed declines in the region\u2019s two largest economies.<\/li>\n\n\n\n<li>The pan-European Stoxx 600 index was 0.24% higher at 1:24 p.m. London time.<\/li>\n\n\n\n<li>German business activity also contracted in September, with the HCOB flash composite PMI falling from 48.4 in August to 47.2 in September, a seven-month low.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Gold steadies after hitting record high<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gold steadied on Monday after hitting a record high as strong market sentiment and geopolitical tensions were balanced by a stronger dollar which saw some investors booking profits.<\/li>\n\n\n\n<li>Spot gold was unchanged at USD 2,622.16, after hitting an all-time high of USD 2,631.31 earlier in the session.<\/li>\n\n\n\n<li>Both spot silver and platinum lost 1.6% to USD 30.62 and USD 959.75 per ounce, respectively.<\/li>\n\n\n\n<li>Palladium shed 1.8% to USD 1,048.25.<\/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","protected":false},"excerpt":{"rendered":"<p>As the final full week of September begins, markets will be digesting key developments from the prior week, particularly the outcome of the US Federal Reserve\u2019s policy meeting and global inflation data. Investors will focus on the impact of central bank actions, geopolitical risks, and corporate earnings. The first trading day of the week may <a href=\"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-23-september-2024\/\" 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-14327","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\/14327","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=14327"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/14327\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=14327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=14327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=14327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}