High Impact News: 23rd - 27th September

High Impact News: Week of September 23

Next week presents a mix of key economic reports and central bank decisions that could drive market volatility across various regions. Here's what to watch:

Monday, September 23
The week kicks off with the HCOB PMI data for the Eurozone, offering a glimpse into the health of its economy. Both the Manufacturing PMI and Services PMI will be released, with the former expected to remain in contraction territory, continuing the trend of weaker industrial activity across Europe. Similarly, the UK's S&P Global/CIPS PMI numbers are due, with expectations that the Services PMI will remain resilient while manufacturing lags behind. These PMI releases could shape the outlook for the EUR and GBP as they reflect economic sentiment across key sectors.

In the US, the S&P Global Manufacturing and Services PMI data will also be in focus. Manufacturing is expected to stay in contraction at 47.9, while Services remains strong at 55.7. Investors will closely watch these numbers for any signs of a slowdown in the US economy, particularly in light of ongoing inflation concerns.

Tuesday, September 24
The Reserve Bank of Australia (RBA) will announce its Interest Rate Decision, with rates expected to hold at 4.35%. The accompanying Rate Statement and Press Conference will provide insights into the bank's outlook on inflation and future rate hikes. Traders will monitor this closely for any hawkish or dovish shifts, particularly as Australia battles to maintain growth amid a slowing global economy.

Later in the day, Bank of Canada Governor Tiff Macklem will give a speech, which could provide clues on the BoC’s monetary policy direction amid a moderating inflation backdrop.

Wednesday, September 25
Australia's Monthly Consumer Price Index (CPI) for August will be released, offering fresh inflation data for the country. With the year-on-year figure expected around 3.5%, this will be a key indicator for the RBA’s future policy moves as they work to bring inflation back within target.

Thursday, September 26
The focus shifts to Switzerland, where the Swiss National Bank (SNB) will announce its Interest Rate Decision. Currently expected to remain at 1.25%, the SNB will also release its Monetary Policy Assessment and hold a Press Conference, where investors will be looking for any indication of further tightening in response to Switzerland’s relatively low inflation.

In the US, the second-quarter Gross Domestic Product (GDP) Annualized data will be published, with growth expected at 3%. This will provide further insights into the strength of the US economy and could influence the Federal Reserve’s next moves on interest rates.

Friday, September 27
Japan's Tokyo Consumer Price Index (CPI) will be released, with an expected 2.6% year-on-year increase. The CPI ex Food and Energy is forecast to grow at 1.6%, offering insights into core inflation trends in Japan.

Later in the day, the US will release the Core Personal Consumption Expenditures (PCE) Price Index for August. With month-on-month growth expected at 0.2% and year-on-year at 2.6%, this is a critical inflation metric for the Federal Reserve and could influence the USD if it comes in above or below expectations.


Next week’s PMI data will provide an important overview of economic activity across the Eurozone, UK, and US, while the central bank decisions from the RBA and SNB could have lasting impacts on their respective currencies. Keep an eye on the GDP and PCE data from the US as traders look for any signs of an economic slowdown or persistent inflation ahead of the Federal Reserve's next meeting.