Markets This Week: Global Central Bank Decisions, Bullish Oil Prices, And A Potential Threat To IPhone Sales

In the upcoming week, major events linking to the Federal Reserve, Bank of England, Bank of Japan, and the Swiss National Bank have the potential to trigger market trends, as these key central banks are set to determine their next interest rate decisions.



The U.S.


The highlight of the week is the Federal Funds Rate announcement scheduled for Wednesday, September 20, 2023 at 10:00 PM, GMT+4 (Dubai time), followed by the FOMC Press Conference at 10:30 PM, GMT+4 (Dubai Time). The market anticipates the interest rate to remain as is at 5.50%.



The UK


The Bank of England is set to release its Official Bank Rate on Thursday, September 21, 2023 at 3:00 PM, GMT+4 (Dubai Time). The market expects the interest rate to increase to 5.50% compared to the previous figure of 5.25%.





The Bank of Japan Policy Rate is scheduled to be released on Friday, September 22, 2023 at 7:00 PM, GMT+4 (Dubai Time). The market forecasts the rate to remain as is at -0.10%.





The Swiss National Bank is set to release its Policy Rate on Thursday, September 21, 2023 at 11:30 AM, GMT+4 (Dubai Time). The market predicts a rise from the previous rate of 1.75% to 2.00%.



Today’s Highlights


On Sunday, September 17, 2023, Ferrari (RACE) announced the renewal of its collaboration with PUMA (PUMA) for its racing division. PUMA will continue its role as the merchandiser and distributor of Ferrari-branded products.


Gold prices continue to rise, driven by uncertainty regarding the upcoming Fed interest rate decision, building on last Friday’s gains and further increasing demand for the safe haven.


Crude oil has been on an upward trajectory, despite the U.S. Dollar’s movement, due to predictions of extended supply cuts and growing optimism regarding the recovery of Chinese demand.


Apple Inc. (AAPL) is facing challenges with declining iPhone sales, a significant contributor to its revenue, driven by the Chinese government’s ban on iPhones among its employees. This raises concerns since almost 19% of Apple’s total sales are derived from Greater China.




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