Going mildly in the new month, unfortunately, the good mood of yesterday, was interrupted today and resumed the "bloody October" once the rumors of a potential deal between the US and China were disproved, and Apple showed some disappointing reports, that they will no longer announce sales data for their new products. The indices wiped out today's price rises and the dollar began to lose momentum. On Sunday, we are expecting US sanctions against Iran to start a tough start for next week's oil. We expect the weakening of the dollar to continue next week, with the possibility that the indices will continue to decline further. The Fed will have a meeting next week that will not decide on the interest rate and there will be no press conference, but after today's data, we expect the Fed to consolidate its position in their decision to raise interest rates in December.
The economic calendar in the new week will be dominated by central banks, with 3 interest rates. The first one comes on Tuesday morning when the RBA will set the base interest rate in Australia. Broad expectations are preserving current monetary policy. Then on Wednesday night, the New Zealand central bank is also expected not to take measures against the country's interest rates. Interesting will be the report of the two banks on the health of the economy and the influence of the Fed on global monetary policies as the gap in interest rates between the G7 and the US is beginning to become too great. The US is expected to tighten the economy once more this year, as it will happen in December. The Fed has decided on interest rates on Thursday in the new week, but it will be more formal as no surprises are expected.
Another interesting moment comes on Friday, when UK GDP data will be published. Analysts' expectations are for a higher economic growth rate than the previous one, but it will be interesting to see from a first-person view that Brexit is already approaching the economy of the island. All banks in Europe covered the ECB stress test requirements without any problems, but the UKs ranked with the lowest score, which in itself can be interpreted as a red flag for future danger
The important economic news for the new week
17:00 USA - ISM Non-Manufacturing PMI
05:30 Australia - RBA Interest Rate Decision
11:00 Europe - Markit Composite PMI
17:00 USA - JOLT's Job Openings
23:45 New Zealand - Employment Change
09:00 Germany - Industrial Production
10:30 UK - Halifax House Price Index
12:00 Europe - Retail Sales
17:00 Canada - Ivey PMI
17:30 USA - Crude Oil Inventories
22:00 New Zealand - RBNZ Interest Rate Decision
Tentative China - Trade Balance
11:00 Europe - ECB Economic Bulletin
21:00 USA - FOMC Interest Rate Decision
02:30 Australia - RBA Monetary Policy Statement
11:30 UK - Gross Domestic Product
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.