ATFX Market Outlook 23rd September 2025

ATFX Market Outlook 23rd September 2025

Wall Street Hits Records, Gold Soars Ahead of Powell

Market HighlightU.S. equities extended their winning streak on Monday, with all three major indexes closing at record highs for a third straight session. Tech stocks led the charge, fueled by Nvidia’s announcement of up to $100 billion in planned investment into OpenAI. The Dow rose 0.14%, the S&P 500 gained 0.44%, and the Nasdaq climbed 0.7%. Meanwhile, the U.S. Dollar Index fell 0.39% to 97.34, snapping a three-day advance as investors digested recent Fed officials’ comments on monetary policy.

Gold prices surged nearly 2% to a new all-time high, buoyed by growing expectations of further U.S. rate cuts and persistent safe-haven demand amid political uncertainties. In contrast, oil prices extended losses, pressured by concerns over oversupply outweighing geopolitical risks from Russia and the Middle East.

Key Outlook

Focus now shifts to today’s release of September flash Manufacturing PMIs, which will gauge expansion trends across major economies. Particular attention will be on whether the Eurozone can sustain growth momentum, if U.K. data signals a shift back into expansion, and whether U.S. figures show further weakness. Later, Fed Chair Jerome Powell is set to deliver remarks on the economic outlook, which markets will scrutinize for additional cues following last week’s rate cut, as his stance was perceived as less dovish than expected.

Key Data and Events Today:

Japan Holiday

15:30 EU GERMANY Manufacturing & Services PMI Flash SEP ** 

16:00 EU Manufacturing & Services PMI Flash SEP ** 

16:30 GB Manufacturing & Services PMI Flash SEP ** 

21:45 US Manufacturing & Services PMI Flash SEP ***  

22:00 US Richmond Fed Manufacturing Index SEP **

Tomorrow: 

00:35 Federal Reserve Chair Jerome Powell Speaks *** 

04:30 API Crude Oil Stock Change *** 

08:30 JP Manufacturing PMI Flash SEP ** 

16:00 EU GERMANY Ifo Business Climate SEP ** 

22:00 US New Home Sales AUG ** 

22:30 EIA Crude Oil Stocks Change **

EURUSD

· Resistance: 1.1858/1.1889

· Support: 1.1758/1.1728

EUR/USD rose 0.44% to 1.1796, snapping a three-day losing streak as the Dollar softened amid mixed Fed commentary. Technically, the pair rebounded within its ascending channel, holding above 1.1758 support and eyeing resistance near 1.1858. A firm breakout could extend gains toward 1.19, while a dip below 1.1758 would undermine the bullish outlook.

GBPUSD

· Resistance: 1.3581/1.3608

· Support: 1.3436/1.3400

GBP/USD rose 0.37% to 1.3516, rebounding from recent fiscal concerns that pressured the Pound. Technically, the pair is forming within its ascending channel, with support near 1.3436 and resistance at 1.3581. A break above 1.3581 would reinforce bullish momentum toward 1.37, while failure to hold 1.3436 risks a deeper correction.

 USDJPY

  Resistance: 148.17/148.60

· Support: 146.88/146.34

USD/JPY slipped 0.17% to 147.69, extending its decline as the Bank of Japan’s hawkish signals failed to provide lasting yen support. Technically, the pair is weakening below 148.17, with downside targets near 146.88. A decisive break under this zone could open the way toward 146.00, while recovery above 148.17 is needed to shift momentum back to bullish.

US Crude Oil Futures (NOV)

· Resistance: 62.72/63.11

· Support: 61.45/61.06

WTI crude settled at $62.28, down 0.2%, as oversupply concerns outweighed geopolitical risks. Technically, prices are testing a strong support zone near $61.45, which has been held multiple times, forming a potential quadruple bottom. A rebound from this level could drive WTI back toward $62.72–63.11, while a clear break lower risks accelerating declines toward $60.00.

Spot Gold

  Resistance: 3776/3787

· Support: 3727/3717

Spot Silver

· Resistance: 44.32/44.53

· Support: 43.40/43.18

Spot gold jumped 1.7% to $3,748.62/oz, boosted by Fed rate cut bets and safe-haven demand. Price broke past $3,703 and the Fibonacci 1.618 at $ 3,745, eyeing resistance at $ 3,775–3,780. As long as $3,703 support level holds, momentum favors further upside.

Dow Futures

· Resistance: 46562/46656

· Support: 46255/46160

climbed 0.14% to 46,381.54, supported by tech sector strength but capped by valuation concerns. Technically, prices remain in an ascending channel with near-term resistance at 46,562. The above breakout could open the path toward fresh highs, while support lies at 46,255.

NAS100

· Resistance: 24831/24980

· Support: 24594/24475

NAS100 rose 0.70% to 22,788.98, with Nvidia and Apple leading gains as renewed AI enthusiasm boosted investor sentiment. Technically, the index is testing resistance near 24,831 with support around 24,594. A successful hold could pave the way for fresh highs, while a dip below support may see a retest of the 24,500 zone.

BTC

· Resistance: 113885/115448

· Support: 111359/110096

Bitcoin slid 1.9% to $113,000, easing from last week’s one-month high near $118,000 as investors weighed Fed rate cut optimism against lingering macro uncertainty. Technically, BTC is testing support near 111,359; holding above this level may allow a rebound toward 113,885, but a breakdown risks accelerating losses toward the $108,000 zone.

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