News Special

Markets to watch this week (October 16-22)

The US headline CPI was unexpectedly unchanged in September, but money markets remain uncertain whether another Fed rate hike could come this year.
While geopolitics is becoming an increasingly important factor to keep an eye on in the markets, traders should not forget a series of high-level data releases expected this week.
Find out the markets to watch this week, according to the experts at XTB.
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Discover the offer of XTB1) USD/CAD US inflation data for September surprised on the upside, but whether the Fed will decide to make a further rate increase this year remains uncertain.
Traders will be offered US retail sales reports for September this Tuesday at 2.30pm and will provide hints on the strength of US consumers.
Additionally, Fed Chair Powell will give a speech on the economic outlook on Thursday at 6 p.m.
Since we also have some reports from Canada scheduled for the next few days, such as the CPI report for September (Tuesday, 2.30pm), USD/CAD could be one of the pairs on the move.
2) GBPAUD GBP/AUD is one of the FX pairs that could see some big moves this week.
That's because there will be plenty of readings from both countries over the next few days: RBA minutes (Tuesday, 2.30am), UK jobs data (Tuesday, 8am), UK CPI report (Wednesday, 8am), Australian jobs data (Thursday, 2.30am) and UK retail sales report (Friday, 8am).
GBP/AUD recently rebounded from the 1.90 support zone and has started paring recent declines.
However, will upcoming data provide a boost to this movement? 3) Chinese indices interrupted their recent recovery movements and started falling again in the second half of last week.
Media reports of a potential new round of support measures for the Chinese economy have failed to convince investors that a breakthrough is on the horizon.
Economic data due for release this week could help Chinese indices find direction.
In addition to September's monthly activity data (industrial production, retail sales, urban investment), China's GDP report for the third quarter of 2023 will also be released this Wednesday at 4pm.
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Author: Hermes A.I.

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