ATFX Market Outlook - 22nd September 2026
Nasdaq Soars to Record Despite Hawkish Fed; Gold Reverses
(By ATFX Analyst Team)
Key Takeaways
U.S. equities registered significant gains on Monday, supported by declines in both Treasury yields and crude oil prices, which collectively enhanced risk sentiment prior to the anticipated summit between Chinese and U.S. leaders. The Nasdaq Composite Index concluded at a new record high. Conversely, gold prices were pressured as the U.S. dollar appreciated, following further hawkish commentary from Federal Reserve officials.
Today's focus: Eurozone September Consumer Confidence (Preliminary) is projected to remain in negative territory, underscoring persistent caution regarding energy costs and labor market dynamics. U.S. September Richmond Fed Manufacturing Index (Forecast: 4 | Previous: 5): A weaker print would reinforce prevailing indications of persistent manufacturing sector softness within a sustained higher interest rate environment.
Global Market Review
U.S. equity markets advanced, with the Nasdaq achieving a record close. The yield on the U.S. 10-year Treasury note declined, whereas the U.S. Dollar Index appreciated by 0.13%. Spot gold decreased by 0.8%, driven by market expectations of continued Federal Reserve tightening and prevailing hawkish central bank rhetoric, which bolstered the dollar. WTI crude oil prices fell by over 3%, as market participants monitored diplomatic developments related to Middle East tensions during the United Nations General Assembly.
Key Events Today:
Japan Holiday
11:10 RBA Governor Michele Bullock Speaks ***
22:00 EU Consumer Confidence Flash SEP **
22:00 US Richmond Fed Manufacturing Index SEP **
[ATFX] September 23 Key Data & Events to Watch (GMT+8)
Japan Holiday
NYMEX October Crude Contract Expiry 04:30
API Crude Oil Stock Change ***
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 **
EURUSD
Resistance: 1.1488 / 1.1512
Support: 1.1434 / 1.1411
The euro depreciated against the U.S. dollar in response to renewed hawkish rhetoric from the Federal Reserve, while lingering political uncertainty in Germany further constrained investor sentiment.
Analyst View: EUR/USD remains confined to a narrow consolidation range near recent lows. As long as the pair stays below 1.1500, downside pressure is likely to persist.
Bias: Range Trading
GBPUSD
Resistance: 1.3407 / 1.3435
Support: 1.3342 / 1.3314
The British pound exhibited range-bound trading dynamics, briefly testing the 1.3400 level before retracting in the context of broad-based U.S. dollar strength.
Analyst View: With limited domestic catalysts from the UK, GBP/USD is expected to continue consolidating within its current lower trading range.
Bias: Range Trading
USDJPY
Resistance: 158.26 / 158.70
Support: 156.76 / 156.19
USD/JPY advanced for the fifth session out of six, reaching its highest level since September 3, thereby reigniting concerns regarding potential currency market intervention.
Analyst View: Momentum has improved following a break above the 20-day moving average, with scope for a move beyond 158.00. Bias: Short-Term Bullish US Crude Oil Futures (NOV) Resistance: 95.61 / 97.74
Support: 88.71 / 86.61
Crude oil prices extended their declines, reaching their lowest level since September 8, as market optimism increased regarding the potential for diplomatic initiatives at the United Nations to facilitate de-escalation of Middle East tensions.
Analyst View: News of ongoing diplomatic engagement in the region is likely to remain a bearish influence on crude prices. Price break below key moving-average support leaves prices vulnerable to a further test of the $90 area.
Bias: Bearish
Spot Gold (XAU/USD)
Resistance: 4405 / 4438
Support: 4300 / 4267
Spot Silver (XAG/USD)
Resistance: 67.43 / 68.32
Support: 65.31 / 64.60
Gold prices declined in the latest session as further Federal Reserve officials signaled support for additional interest rate increases, thereby reinforcing market expectations for a sustained period of tighter monetary policy.
Analyst View: Gold surrendered the previous session’s gains but held above its 10-day moving average. Immediate resistance remains near the 20-day moving average around $4,390.
Bias: Range Trading
Dow Jones Futures
Resistance: 52,397 / 52,776
Support: 51,551 / 51,179
U.S. equity markets experienced a broad-based rally, driven primarily by advances in technology and artificial intelligence sectors, with additional support from declining yields and oil prices.
Analyst View: A break above the 10-day moving average would strengthen the near-term recovery outlook and expose resistance above 52,400.
Bias: Short-Term Bullish
NASDAQ 100
Resistance: 30,826 / 30,996
Support: 30,248 / 30,026
The Nasdaq Composite Index attained a record close, propelled by gains in AMD and other leading artificial intelligence–related equities, while semiconductor stocks demonstrated notable outperformance.
Analyst View: Optimism surrounding potential AI-related discussions between U.S. and Chinese leaders remains supportive. Momentum remains constructive above recent highs.
Bias: Short-Term Bullish
Bitcoin (BTC/USD)
Resistance: 86,862 / 87,734
Support: 84,041 / 83,155
Bitcoin advanced to its highest level since January, supported by substantial capital rotation into higher-risk assets amid declining U.S. Treasury yields. Additionally, moderating oil prices contributed to easing broader inflationary pressures.
Analyst View: The broader trend remains positive, although some profit-taking may emerge ahead of the key psychological resistance at $90,000.
Bias: Short-Term Bullish
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