(By ATFX Analyst Team)
Key Takeaways
Today’s Focus: Preliminary September PMI Data Eurozone Manufacturing PMI: Forecast 52.6 (Previous: 52.7) U.S. Composite PMI: Forecast 53.6 (Previous: 53.9) Today’s PMI data releases are a key barometer of global economic momentum and may influence the anticipated trajectory of Federal Reserve policy. Weaker-than-expected readings could reinforce prevailing concerns about a gradual moderation in economic activity. |
Global Market Review 23/09/2026
- U.S. equity indices delivered mixed performances, with the Nasdaq reaching a record high.
- Yields on U.S. Treasury securities declined, while the U.S. Dollar Index advanced amid heightened volatility, having earlier touched a two-month peak.
- Spot gold rose 0.3%, reflecting increased demand for defensive assets.
- WTI crude oil prices fell more than 2% for a fifth consecutive session, as easing supply concerns and reports of diplomatic engagement between U.S. and Iranian representatives at the United Nations General Assembly shaped market sentiment.
Key Events Today:
| Time (GMT+8) | Event | Importance |
|---|---|---|
| Japan Holiday | ||
| 07:00 | AU Manufacturing & Services & Composite PMI Flash SEP | ** |
| 15:30 | EU GERMANY Manufacturing & Services & Composite PMI Flash SEP | ** |
| 16:00 | EU Manufacturing & Services & Composite PMI Flash SEP | ** |
| 16:30 | UK Manufacturing & Services & Composite PMI Flash SEP | ** |
| 21:45 | US Manufacturing & Services & Composite Flash SEP | ** |
| 22:30 | EIA Crude Oil Stocks Change | ** |
Key Events on September 24 (GMT+8)
| Time (GMT+8) | Event | Importance |
|---|---|---|
| US President Trump and President Xi Summit | *** | |
| 08:30 | JP Manufacturing PMI Flash SEP | ** |
| 09:30 | AU Unemployment Rate AUG | ** |
| 15:30 | SNB Interest Rate Decision | *** |
| 16:00 | EU GERMANY Ifo Business Climate SEP | ** |
| 20:30 | US Initial Jobless Claims | *** |
| 20:30 | US Building Permits Final AUG | ** |
| 22:00 | US New Home Sales AUG | ** |
Markets Analysis 23/09/2026
- Resistance: 1.1489 / 1.1512
- Support: 1.1412 / 1.1389
EUR/USD fell to its lowest level since late July, pressured by subdued Eurozone consumer sentiment and sustained U.S. dollar strength.
Analyst View: The pair has broken below recent support, with attention now shifting to today’s PMI releases. A disappointing Eurozone reading could leave EUR/USD vulnerable to a move towards 1.1400.
Bias: Bearish
- Resistance: 1.3374 / 1.3397
- Support: 1.3304 / 1.3274
The British pound remained near two-month lows, held back by broad-based U.S. dollar strength ahead of key PMI releases.
Analyst View: The 1.3300 area remains critical support. A sustained break below this level could expose further downside towards the late-July lows.
Bias: Bearish
- Resistance: 158.42 / 159.29
- Support: 156.65 / 155.76
USD/JPY recorded a third consecutive daily gain, rebounding after an intraday decline below 157.00.
Analyst View: The broader uptrend remains intact. Although momentum has moderated, the pair continues to target the 158.00 region, with last week’s high as the next key objective.
Bias: Moderately Bullish
- Resistance: 93.54 / 95.66
- Support: 86.69 / 84.53
Crude oil prices extended their decline as market expectations of diplomatic progress in the Middle East reduced geopolitical risk premiums.
Analyst View: The failure to regain the 20-day moving average, coupled with the break below $90, reinforces a bearish near-term outlook, with downside risks towards $86.69 and $84.53.
Bias: Bearish
- Resistance: 4405 / 4437
- Support: 4340 / 4300
- Resistance: 68.33 / 69.03
- Support: 65.31 / 64.59
Gold prices showed resilience as market participants assessed the implications of ongoing U.S.–Iran negotiations for inflation dynamics and future monetary policy expectations.
Analyst View: Gold recovered from early weakness and closed within the 10- and 20-day moving average range. Consolidation is likely to persist ahead of the U.S. PMI release.
Bias: Range Trading
- Resistance: 52,407 / 52,783
- Support: 51,194 / 50,811
The Dow Jones Industrial Average underperformed as investors reallocated capital towards technology- and artificial intelligence–oriented growth equities.
Analyst View: The index failed to hold above recent highs and slipped below its 10-day moving average. Near-term upside remains capped unless it decisively breaches resistance above 52,400.
Bias: Limited Rebound
- Resistance: 30,996 / 31,172
- Support: 30,421 / 30,248
The Nasdaq Composite Index recorded a second consecutive record close, driven by sustained strength in the artificial intelligence and semiconductor sectors.
Analyst View: The underlying trend remains constructive, although today’s PMI data and caution ahead of the China-U.S. leaders’ meeting may temper near-term momentum.
Bias: Moderately Bullish
- Resistance: 88,427 / 89,504
- Support: 85,036 / 83,944
Bitcoin traded near eight-month highs above $86,000, supported by strong ETF inflows, favourable technical momentum, and short covering.
Analyst View: Momentum remains positive, although the follow-through has slowed. Consolidation at elevated levels appears likely, with the $88,000-$90,000 region a key resistance zone.
Bias: High-Level Consolidation
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