Forex Analysis & Reviews: 18.09.2023 - US pre-market trade on...

Live Chat

InstaForex - Official partner of Dragon Racing

This section features the most important information about trading with InstaForex. We provide both analysis from leading experts for experienced traders and articles on trading conditions for beginners. Our services will help increase your profit potential.

Become Trader

Account Opening

See also

Trading Conditions

Forex Analytics

Charts

This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.

Start as Beginner

How to start trading

Useful information

Training and recordings

InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.

Become Investor

PAMM System

ForexCopy System

Passive investments

OYS account

Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.

Become Partner

Main Page

Partner Area

Advantages for Affiliates

Registration

This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.

All Promo Campaigns

Bonuses

Contests

Events

Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.

Full details

Forums

We are in social networks

Forex humour

Forex Portal

InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.

Learn More

History

Why Choose Us

InstaSport

Regulation

Company News

Awards

InstaForex Stars

InstaForex Offline

Headquarters

Key documents

Social Responsibility

InstaForex Loprais Team - Official participant of the Dakar rally

18.09.2023 01:40 PM

US pre-market trade on September 18, 2023. Stock futures recover from steep fall

US stock futures experienced a modest uptick following a significant decline in the session on Friday. The S&P 500 futures are currently up by 0.1%, while the tech-heavy NASDAQ has seen a 0.2% rise. Oil prices have approached $95 per barrel, underscoring mounting inflationary pressures. This development could influence the Federal Reserve's decision on interest rates, set to be announced on Wednesday.

European and Asian stocks plummeted in response to a more than 1% drop in the S&P 500 on Friday. Shares of Societe Generale SA plunged by 11% after their earnings targets had been downgraded. Apple's stock has risen in the US pre-market, with analysts optimistic about the early demand indicators for the latest iPhone 15.

Regarding the commodities market, the recent three-week oil price rally has already driven up Brent crude by 11%, complicating central banks' battle against inflation. The Federal Reserve's Wednesday announcement will be followed by statements from the Bank of England on Thursday and the Bank of Japan a day later.

This week is projected to be notably volatile. Earlier in September, few anticipated that the Federal Open Market Committee would consider another interest rate hike. However, now central bank leaders are expected to send out strong signals. Notably, the European Central Bank unexpectedly raised its interest rates to 4.5% last week, emphasizing a stringent approach despite a significant economic growth slowdown.

US Treasury bond yields have risen, with the policy-sensitive two-year rate surpassing 5%.

The cautious sentiment in the stock markets on Monday reflects the prevailing uncertainty. Morgan Stanley believes investors have become more wary, with increasing debates on whether the US will stave off a recession or merely delay its onset. Many investors surveyed by Morgan Stanley now view 2024 as a riskier year for assets compared to 2023.

Regarding the oil market, traders will be watching for global supply details during a speech by Saudi Arabia's Energy Minister, Prince Abdulaziz bin Salman. Last week, hedge funds increased their bullish bets on both Brent and WTI crude.

On the gas market front, Chevron Corp. has resumed full production at its Australian liquefied natural gas export plant, which suffered disruptions last week, even amidst ongoing union strikes.

As for the technical outlook for the S&P 500, demand for the index has sharply decreased. Bulls need to secure the $4,469 level. By doing so, they can jump to $4,488. Another primary goal for buyers is to control the $4,515 level, thus reinforcing the bullish market. In case of a downward movement amid lower risk appetite, buyers will have to assert themselves around $4,447. A breakout of this level could quickly push the trading instrument back to $4,427, paving the way towards $4,405.

You have already liked this post today

*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.