A review of the week past and the week ahead 14th September

What mattered last week:

The S&P500 fell -2.75%, as the correction in tech stocks deepened and spread to other sectors.
The FANG index, a $US120 trillion equal dollar weighted index comprised of high growth tech stocks including Facebook, Apple, Amazon and Google has fallen 15% in September, it largest pullback since March.
New coronavirus cases continued to trend lower in the U.S, and Australia. However cases in India and Europe are rising, particularly in Spain and France.
Brexit risks remerged and in the U.S, the Democrats blocked the latest stimulus package.
The ECB kept policy unchanged at its monthly meeting and did not push back against EURUSD strength.
The Band of Canada kept policy unchanged, as well as its GoC bond purchase commitment of a minimum C$5bn per week.
Volatility, as measured by the VIX index, closed lower at 26.9.
U.S. 10-year yields closed lower, near 0.66%.
Gold rose slightly to U.S $1940.00.
Crude oil fell another 6.14%, closing at U.S $37.33/bbl.
The ASX200 closed down -1.12% at 5859.4.
In FX, the AUDUSD closed unchanged near .7280.

For the week ahead, the key events are:

Australia: RBA meeting minutes, house price index (Tuesday), HIA new home sales (Wednesday), labour force (Thursday).

Labour Force (Thursday): Despite the Victorian lockdowns, weekly payroll data suggest strength in other states will see a rise in jobs of 40,000. Nevertheless, a rise in the participation rate should result in an increase in the unemployment rate, from 7.5% to 7.7%.

New Zealand: Westpac consumer confidence Q3 (Monday), global dairy trade auction (Tuesday), current account (Wednesday), Q2 GDP (Thursday).

China: Unemployment, fixed asset investment, industrial production, retail sales (Tuesday).

Japan: Reuters Tankan index, Liberal Democratic Party leadership vote (Monday), balance of trade (Wednesday), BoJ interest rate decision (Thursday), CPI (Friday).

U.S: Retail sales (Wednesday), FOMC meeting, housing starts, building permits, jobless claims (Thursday), current account (Friday).

FOMC Meeting (Thursday): Following Fed Chair Powell’s speech at the Jackson Hole Symposium, the message is expected to remain one of caution and likely to contain more details on the Feds forward-guidance as well as its willingness to let inflation run above 2%.

Canada: CPI (Wednesday), retail sales (Friday).

Euro Area: EA and German ZEW economic sentiment index (Tuesday), EA balance of trade (Wednesday), EA current account (Friday).

UK: Employment (Tuesday), CPI (Wednesday), BoE interest rate meeting (Thursday), retail sales (Friday).

StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please ensure you fully understand the risks involved by reading our full risk warning.

FOREX.com is a trading name of StoneX Europe Limited, and FOREX.com/ie is a domain operated by StoneX Europe Ltd, a member of StoneX Group Inc. StoneX Europe Ltd, is a Cyprus Investment Firm (CIF) company registered to the Department of Registrar of Companies and Official Receiver with a Registration Number HE409708, and authorized and regulated by the Cyprus Securities & Exchange Commission (CySEC) under license number 400/21. StoneX Europe is a Member of the Investor Compensation Fund (ICF) and has its registered address at Nikokreontos 2, 5th Floor, 1066 Nicosia, Cyprus.

StoneX Europe Limited is registered with the German Federal Financial Supervisory Authority (BaFin). BaFin registration ID: 10160255

FOREX.com is a trademark of StoneX Europe Ltd, a member of StoneX Group Inc.

The statistical data and the awards received refer to the Global FOREX.com brand.

This website uses cookies to provide you with the very best experience and to know you better. By visiting our website with your browser set to allow cookies, you consent to our use of cookies as described in our Privacy Policy.

Through passporting, StoneX Europe is allowed to provide its services and products on a cross-border basis to the following European Economic Area ("EEA") states: Austria, Bulgaria, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.

Additionally, StoneX Europe Ltd is allowed to provide Investment and Ancillary Services to the following non-EU jurisdiction: Switzerland.

StoneX Europe Ltd products, services and information are not intended for residents other than the ones stated above.

Tied Agent Information: KQ Markets Europe Ltd with Company No. HE427857.
Address: Athalassas 62, Mezzanine, Strovolos, Nicosia Cyprus.
Services Provided: Reception and Transmission of Orders.
Commencement Date: 06/12/2022
Website: KQ Markets - CFD Trading | KQ Markets

We may pay inducements, such as commissions or fees, to affiliates or third-party introducers for referring clients to us. This is in line with regulatory guidelines and fully disclosed where applicable.

StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation. StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.