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.
Oil has lost around 8% since Monday, experiencing downward momentum at the beginning and end…
Dollar The dollar has been on an impressive streak, gaining almost daily, particularly against emerging…
Market picture The crypto market has gained around 8% over the past seven days, stabilising…
- Apple reversed from key resistance level 237.00 - Likely to fall to support level 227.00…
- Aig reversed from support level 76.60 - Likely to rise to resistance level 79.65 Aig recently…
Market Picture The cryptocurrency market remains steady at around $2.31 trillion in market capitalisation, mirroring…
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