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U.S. Building Permits 

Building permits, which measure the change in the number of new building permits issued by the government, decreased by 0.6% to 1.685 million year-on-year in July 2022, the lowest level since September last year. This is the main indicator of demand on the  housing market. 

20 September, 20:30, GMT+8      

                            

USD and its subsequent pairs 

Forecast  1,617M (Actual 1,685M)

Canada Core Consumer Price Index (CPI) MoM

The CPI consumer price index in Canada rose to 0.5% in July, the slowest increase since December 2021. Transportation costs increased at a much slower pace amid a sharp drop in gasoline prices. Nevertheless, food inflation continued to rise and this affected food prices. 

20 September, 20:30, GMT+8      

                                                 

CAD and its subsequent pairs 

Forecast 0.4% (Actual 0.5%)

Fed Interest Rate Decision

This is the most important news next week, and all traders will be focused on it. The Fed raised the rate by 75 bps to 2.25% in July 2022, which was the fourth rate increase in a row. The Federal Reserve raises rates to lower inflation. Interest rates are likely to rise further and remain at these levels until inflation begins to decline towards the central bank's 2% target. It is worth paying attention to the press conference at which Jerome Powell will tell the details of the meeting and the key decisions. 

22 September, 02:00, GMT+8     

                                                 

USD and its subsequent pairs 

Forecast 3.25% (Actual 2.5%)

U.K. Interest Rate Decision

The Bank of England raised its main rate by 50bps to 1.75% in August, which is the sixth consecutive rate hike. This is the biggest increase in rates since 1995. The sharp rise in gas prices  reflected on retail energy prices, which affects the real incomes of British households. CPI inflation in the U.K. is expected to rise to 13.2% in October, the bank said in a statement. Therefore, rates will continue to rise in the coming months. In addition, the United Kingdom is projected to enter a recession in the fourth quarter, which will last for five quarters.

22 September, 19:00, GMT+8    

                                                  

GBP and its subsequent pairs 

Forecast  1.75% (Actual 1.75%)

Germany Manufacturing Purchasing Managers Index (PMI)

The Germany Manufacturing PMI was revised lower to 49.1 in August. Manufacturing activity has been falling for the second month and this is the worst data since June 2020. The pace of job creation has slowed due to the decline in new orders. Businesses are pessimistic about the economic outlook compared to the last month, due to the crisis in the energy market, therefore, a further decrease in the indicator is expected.

23 September, 15:30, GMT+8  

                                                    

EUR and its subsequent pairs 

Forecast  48.2 (Actual 49.1)