Weekly Forex Outlook: Major Markets Show Mixed Performance Ahead of Key Rate Decisions

Last Updated on 14/09/2026

NASDAQ 100

The NASDAQ 100 experienced volatile trading over the past week but remained largely rangebound despite hotter-than-expected CPI data. The index continues to consolidate between support around 28,500 and resistance near 30,000, reflecting a broadly neutral market outlook.

Bitcoin

Bitcoin moved lower during the week as it continued trading within a narrow consolidation range around the 50-week EMA.

Market participants remain uncertain whether the cryptocurrency can break higher or stay trapped between approximately $65,000 and $84,000. While buyers still hold a slight advantage, momentum has weakened amid concerns about interest rates and the broader adoption of real-world use cases.

Silver

Silver remained volatile throughout the week while holding above both the 50-week EMA and the key $65 level.

Resistance near $70 continues to cap upside attempts, leaving traders cautious. Elevated interest rates remain a challenge for silver, while a stronger U.S. dollar and rising Treasury yields could further limit bullish momentum.

Gold

Gold continued attracting buyers on pullbacks, although prices have largely remained unchanged for several weeks.

The 50-week EMA is providing underlying support, but higher interest rates continue to create headwinds. Traders are likely to remain cautious ahead of the upcoming Federal Reserve policy decision, which could drive increased volatility and continued rangebound trading.

USD/MXN

The U.S. dollar posted modest gains against the Mexican peso during the week, though broader downside pressure remains intact.

The 17.00 level continues to be a significant area of interest, with traders watching the interest-rate differential that favors Mexico. The carry trade remains attractive, particularly when the U.S. economy performs well due to the close economic ties between the two countries.

EUR/USD

EUR/USD traded in a choppy fashion following the European Central Bank’s 25-basis-point rate increase.

With the Federal Reserve also expected to raise rates, the pair appears comfortable near the 1.16 level. As a result, short-term range trading remains the dominant strategy while markets await fresh catalysts.

AUD/USD

The Australian dollar remained volatile as traders assessed support near the 0.7150 area. Investors continue monitoring the Reserve Bank of Australia’s policy stance, particularly as inflation risks remain elevated. Ongoing tensions in the Middle East and their impact on energy prices and global supply chains are also influencing sentiment.

S&P 500

The S&P 500 continued to find buying interest on dips, reinforcing the significance of the 7,600 level as a key support zone.

Former resistance appears to have turned into support, highlighting the role of market memory. Although higher interest rates remain a concern, investors appear comfortable with the prospect of further rate hikes, limiting their impact on broader market sentiment.

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