Fed decision on 16 September: what currency traders are watching
The FOMC meets on 15–16 September with new economic projections, after August data showed US consumer inflation at 3.4% and payrolls up 162,000.
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Central bank decisions, economic data, gold and oil, and plain-English guides to how currency trading works. Every article links to its primary sources.
US inflation rises to 3.4% in August as gasoline prices jump
Consumer prices rose 0.4% in August and 3.4% from a year earlier. Core inflation, which strips out food and energy, was 2.4%.
Bank of Japan meets on 17–18 September after holding at 1% in July
The BoJ kept its policy rate at 1.00% in July with one member voting for a hike. Since then, Tokyo and Washington have confirmed a joint intervention to support the yen.
Brent crude trades above $100 as shipping through the Strait of Hormuz dwindles
Brent has held above $100 a barrel since 3 September. Tanker traffic through Hormuz has fallen sharply amid US–Iran strikes, and Houthi forces have seized a Red Sea port.
Gold holds near $4,300, well below January's record of $5,589
The metal trades more than 20% below its all-time high as higher interest rates in several economies compete with demand for safe assets.
US producer prices rise 0.4% in August, led by a surge in diesel
Final demand prices were 5.4% higher than a year earlier. Goods prices rose 1.1% on the month, with diesel fuel up by more than 24%.
US employers added 162,000 jobs in August as earlier months were revised lower
The unemployment rate was 4.1% and average hourly earnings rose 3.1% over the year, but June and July payroll gains were revised down to 31,000 and 21,000.
Japan and the US confirm a rare joint intervention to support the yen
Japan's Ministry of Finance bought yen on 31 July in coordination with the US Treasury, Finance Minister Katayama Satsuki said on 3 August, adding that Japan stands ready to act again.
