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Trends & Analysis
News

Broadcom’s stock jumps on profit beat, stock split

News

Crude oil reverses trend on US data

News

Is Apple’s bull run just getting started?

News

Oracle shares spike despite FQ4 earnings miss

News

EUR/USD plunges after parliament elections

News

Is a big move coming for AMD?

Trends & Analysis
News

Broadcom’s stock jumps on profit beat, stock split

News

Crude oil reverses trend on US data

News

Is Apple’s bull run just getting started?

News

Oracle shares spike despite FQ4 earnings miss

News

EUR/USD plunges after parliament elections

News

Is a big move coming for AMD?

Weekly Market Preview

Week Ahead Preview:

20th of November

 

Friday, Nov 17, 2023

The recent reports on inflation levels for October in the US, UK, and the Eurozone were well-received by the markets. These reports indicated a decrease in inflation rates headlines, primarily attributed to the drop in energy prices over the past month, significantly impacting the producer price index. Additionally, the effects of tight monetary policy were observed through a decline in economic activity, particularly in the labour market. The UK inflation rates hit a two-year low at 4.6%, while US inflation data came in lower than expected at 3.2%. Consequently, the markets are increasingly convinced that central banks, including the Federal Reserve, have likely reached the peak of the interest rate hike cycle and are unlikely to hike rates further this year.

Looking ahead, investors will closely monitor preliminary data on US gross domestic product (GDP) for the fourth quarter of the current year. Expectations are for a notable decline in growth levels compared to the third quarter’s 4.9% growth. This decline is attributed to a contraction in consumer spending, as revealed by October’s US retail sales data, which saw a -0.1% contraction. Further decline is anticipated, influenced by the resumption of obligations to pay university loan instalments and the depletion of some individuals’ savings due to increased borrowing levels. This scenario may prompt some individuals to refrain from loan repayments.

With decreasing inflation levels approaching their target and a potential downturn in consumer spending impacting GDP growth, market sentiment suggests that central banks could initiate interest rate cuts in the latter half of 2024.

 

Economic Data Highlights

 

Monday 20th of November
  • EUR- PPI (Germany – Oct)
  • BoE Gov Bailey speech
Tuesday 21th of November
  • RBA -Meeting minutes
  • CAD- inflation rates & housing price index (Oct)
  • USD- Home sales (Oct)
  • FOMC meeting minutes
Wednesday 22th of November
  • USD- Durable goods orders (Oct)
  • USD- Michigan consumer sentiment (Nov)
  • US crude inventories
  • USD- GDP Flash (Q4)
  • Bank of Canada Gov Macklem speech
Thursday 23th of November
  • EUR– Manufacturing & Services PMI flash (Nov)
  • GBP- Manufacturing & Services PMI flash (Nov)
Friday 24th of November
  • NZD – Retail sales (Q3)
  • JPY- Inflation rates (Oct)
  • ECB President Lagarde’s speech
  • CAD- Retail sales (Sep)
  • USD- Manufacturing & Services PMI flash (Nov)

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