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Weekly Market Preview
Friday, 1st of November 2024
This week is one of the most critical of the year due to anticipated price fluctuations. Major central banks are set to announce their interest rate decisions, but the spotlight remains on the U.S. elections, where the outcome—either a victory for Trump or Harris—will define the presidency. Additionally, the makeup of the new U.S. Congress will be revealed, including whether one party will secure a majority in both the House of Representatives and the Senate. A lack of majority in both houses for any party would require ongoing negotiations for every law, such as the general budget, increasing the risk of government shutdowns.
Should Republican candidate Trump win, stock prices may benefit from his plan to reduce corporate taxes from 21% to 15%. He also proposes tariffs on imports, particularly from China, and aims to limit illegal immigration, potentially raising wage levels and, in turn, U.S. inflation—posing challenges for the Federal Reserve’s interest rate reductions and potentially supporting the dollar. In contrast, Harris’s policies would increase corporate taxes from 21% to 28%, boost spending on sectors like healthcare, and provide up to $25,000 in assistance for first-time home buyers. Her approach may lower inflation, potentially encouraging further Federal Reserve interest rate cuts, which could weigh on both stock and dollar prices.
Meanwhile, markets anticipate a 25-basis point rate cut from both the Federal Reserve and the Bank of England. Investors will closely follow press conferences from the Bank of England Governor and the Federal Reserve Chairman to gain insights into each bank’s monetary policy direction, particularly regarding the pace of rate cuts expected in the coming year.
Monday, 4th of November
Tuesday, 5th of November
Wednesday, 6th of November
Thursday, 7th of November
Friday, 8th of November
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