The key events for the market this week will be the interest rate decision from the People’s Bank of China on Monday and the Bank of Canada’s rate decision on Wednesday, where there may be a fourth cut this year, which may be even fifty b.p.
The release of preliminary PMI estimates on Thursday could fuel volatility in European markets. The euro has often downplayed the divergence between expectations and reality, as economic trends are key to the ECB’s next steps.
The reporting season is gathering pace. More than 2,200 companies around the world report this week. In the US alone, over five hundred companies are due to report. Individual names of interest include:
Lockheed Martin, a military contractor, on October 22nd. Retail favourites Tesla and Coca-Cola report on the 23rd, and a giant Amazon at the end of the week.
Remember that this is the week of final preparations for the US election. Candidate statements may get louder, and markets may react more strongly.
- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…
- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…
The recent declines in US indices may have broken the bullish trend, indicated by technical…
The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…
Bitcoin finds support near the 50-day moving average, but further declines in the stock market…
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
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