Forex Signals Brief September 30: Trading Everything Until NFP Friday
Last week the focus was on the US PCE inflation on Friday, which could boost the USD as it continued the decline from the previous week, following the 50 bps FED rate cut. But, the headline and core PCE inflation came below expectations, showing a further slowdown, while earnings also slowed. That increased the chances of a more dovish stance by the Federal Reserve. The report has heightened expectations that the Fed may lower interest rates by as much as 50 basis points at its meeting in November, as US inflationary pressures continue to cool.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | FCA, CySEC, ASIC, MAS, FSA, EFSA, DFSA, CFTC | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, FSC, ASIC, CySEC, DFSA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | ASIC, FCA, CySEC, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | FCA, FSCA, FSC, CMA | USD 200 | Visit Broker |
| 7 |  | Read Review | BVI FSC | USD 1 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
The race for Japan’s prime minister has also played a role in forex, strengthening the JPY against all major currencies. The victory of Shigeru Ishiba, a former defense minister, bolstered the yen, with the USD/JPY pair closing around 142.06 at the end of Friday’s US session. Ishiba’s win is significant because his opponent was opposed to further rate hikes by the Bank of Japan (BOJ). Ishiba’s election has fueled market speculation that his leadership could pave the way for more BOJ rate hikes, driving the yen’s strength.
Besides that, we had some positive news from china, which promised to follow up on the Monetary stimulus with a Fiscal stimulus, which improved market sentiment, keeping stock markets and risk currencies bullish. The S&P 500 and Dow Jones indexes reached another record high, while EUR/USD remained bullish despite weakening Eurozone economy, which should push the ECB toward an October rate cut.
This Week’s Market Expectations
This week the main event is scheduled for Friday again, which is the US Non-Farm Payrolls (NFP). The labour market seems to be stable in the US, however this report might shake markets is it swings too much on either side. However, we have some important events during the week, such as the Eurozone CPI inflation and FED chairman Powell’s speech who is due to participate in a moderated discussion titled “A View from the Federal Reserve Board” at the National Association for Business Economics Annual Meeting, in Nashville. Audience questions expected
Upcoming Economic Events
Monday:
- Japan: Industrial Production, Retail Sales
- China: PMIs
- Germany: CPI
- US: Fed Chair Powell speech
Tuesday:
- Japan: Unemployment Rate, BoJ Summary of Opinions
- Australia: Retail Sales
- Switzerland: Retail Sales, Manufacturing PMI
- Eurozone: Flash CPI
- US: ISM Manufacturing PMI, Job Openings
Wednesday:
- Eurozone: Unemployment Rate
- US: ADP Employment Report
Thursday:
- Switzerland: CPI
- Eurozone: PPI
- US: Jobless Claims, ISM Services PMI
Friday:
- Switzerland: Unemployment Rate
- US: Non-Farm Payrolls (NFP)
Yesterday we had yet another great day with our trading signals, as we followed the trend, with the USD reversing lower while risk assets turned higher, which proved to be a good strategy to go with the flow. We opened 8 trading signals in total, ending the day, all of which were winning forex signals.
Gold Closed Down on Friday After Another GReat Week
The strength of the U.S. job market was demonstrated by solid economic data, including positive unemployment claims and durable goods orders. As a result, gold prices fell by $30 during the European session. On the daily chart, the 20-day SMA (gray) has provided support, and the subsequent bounce pointed to a positive trend, with rising lows suggesting further bullish momentum. 
XAU/USD – Daily chart
AUD/USD Breaks Above the 100 Weekly SMA
The Federal Reserve’s 50 basis point rate cut and the enhanced risk mood that followed China’s stimulus measures are the main reasons why the AUD/USD pair is still strong. The pair is getting close to the 0.70 mark after rising to its highest point since February 2022. The 100-week SMA had been serving as barrier for the pair, but last week it broke through, lifting the price above 0.69.
AUD/USD – Weekly Chart
Cryptocurrency Update
Bitcoin Stabilizes Above $65,000
BITCOIN has been in a steady downtrend since peaking at $70,000 in April 2024. Its value dropped from $20,000 in October 2023, and a global sell-off in August, driven by U.S. economic concerns, pushed Bitcoin below $50,000. This confirmed its bearish trend of declining highs and lows. Although buyers have attempted to limit losses, Bitcoin has struggled to break through significant resistance levels, particularly the $65,000 mark. However, the 200-day SMA has now become a new support level, offering hope for stabilization.
BTC/USD – Daily chart
Ethereum Continues to Trade Between MAs
Ethereum has been in a downtrend since March, falling from $3,830 to under $3,000 by June. The price dropped as low as $2,200 due to persistent selling pressure but briefly recovered above the 50-day SMA. Recent bullish candlestick patterns suggest a potential reversal of Ethereum’s bearish trend, with the 100-week SMA acting as strong support. Renewed buying interest signals that Ethereum may be poised for a future rise.
ETH/USD – Weekly chart
ABOUT THE AUTHOR
See More
Add 3442
Related Posts
Add 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals
Top Broker