{"id":5788,"date":"2023-10-16T06:26:41","date_gmt":"2023-10-16T06:26:41","guid":{"rendered":"https:\/\/justmarkets.eu\/?p=5788"},"modified":"2023-10-16T06:26:41","modified_gmt":"2023-10-16T06:26:41","slug":"weekly-overview-2023-10-16-2-4","status":"publish","type":"post","link":"https:\/\/justmarkets.eu\/es\/analytics\/weekly-overview-2023-10-16-2-4\/","title":{"rendered":"Week&#8217;s main events (October 16 &#8211; October 20)"},"content":{"rendered":"\r\n<div class=\"ag-base_page ag-m-format-container\">\r\n<h1 class=\"ag-base_title-page\">Week&#8217;s main events (October 16 &#8211; October 20)<\/h1>\r\n<div class=\"ag-analytics-page ag-market-overview-page\">\r\n<p class=\"ag-analytics_text\">\r\nGeopolitical tensions will remain at the forefront this week. Any hints of further escalation of the conflict in the Middle East will have a direct impact on the US dollar, gold, and oil prices. Also, the focus for investors will be on the consumer price index in the major economies&#160;(Eurozone, United Kingdom, Canada, New Zealand, and Japan). There will also be plenty of economic statistics on China, with Q3 GDP data worth a special look. Several US Federal Reserve officials will speak this week. Investors should not forget about the 3rd quarter US earnings season. Companies due to report earnings next week include Tesla, Netflix, and Johnson &amp;\r\n Johnson.\r\n\r\n\r\n  <\/p>\r\n\r\n\r\n\r\n\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Monday, October&#160;16\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nOn Monday, traders will mainly focus on the Canada BoC Business Outlook Survey. This report can give hints about the next steps of the Bank of Canada as well as see the bank&#8217;s economic forecasts.  \r\n  <\/div>\r\n\r\n  <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 Eurozone Trade Balance (m\/m) at&#160;12:00&#160;(GMT+3);\r\n    <\/li>\r\n     <li class=\"ag-analytics_item\">\r\n\u2013 US NY Empire State Manufacturing Index (m\/m) at&#160;15:30&#160;(GMT+3);\r\n    <\/li>\r\n     <li class=\"ag-analytics_item\">\r\n\u2013 Canada BoC Business Outlook Survey at&#160;17:30&#160;(GMT+3);\r\n    <\/li>\r\n     <li class=\"ag-analytics_item\">\r\n\u2013 US FOMC Member Harker Speaks (m\/m) at&#160;17:30&#160;(GMT+3).\r\n    <\/li>\r\n      \r\n     \r\n  <\/ul>\r\n\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Tuesday,&#160;October&#160;17\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nOn Tuesday, the main event of the day will be the inflation data in New Zealand and Canada. New Zealand publishes these data once a quarter, not once a month like other countries. Analysts expect inflation to fall from 6% to 5.9% on a yearly basis. But in quarterly terms, inflation is expected to rise sharply. Volatility in pairs with the New Zealand dollar will be higher. Canada expects inflation to remain at&#160;4% y\/y. The attention of traders should also be focused on the Australia RBA Meeting Minutes. Also, traders shouldn\u2019t miss the UK labor market data, which will be scrutinized by the Bank of England to plan the future trajectory of interest rates. A strong labor market will increase the likelihood of another rate hike this year.\r\n\r\n\r\n  <\/div>\r\n\r\n   <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 New Zealand Consumer Price Index at&#160;00:45&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 Australia RBA Meeting Minutes at&#160; 03:30&#160;(GMT+3);\r\n\r\n    <\/li>\r\n       <li class=\"ag-analytics_item\">\r\n\u2013 UK Unemployment Rate (m\/m) at&#160;09:00&#160;(GMT+3);\r\n    <\/li>\r\n      <li class=\"ag-analytics_item\">\r\n \u2013 German ZEW Economic Sentiment (m\/m) at&#160;12:00&#160;(GMT+3);\r\n    <\/li>\r\n      <li class=\"ag-analytics_item\">\r\n\u2013 Eurozone ZEW Economic Sentiment (m\/m) at&#160;12:00&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US Retail Sales (m\/m) at&#160;15:30&#160;(GMT+3);\r\n\r\n    <\/li>\r\n       <li class=\"ag-analytics_item\">\r\n\u2013 Canada Consumer Price Index (m\/m) at&#160;15:30&#160;(GMT+3);\r\n    <\/li>\r\n      <li class=\"ag-analytics_item\">\r\n\u2013 US Industrial Production (m\/m) at&#160;16:15&#160;(GMT+3);\r\n    <\/li>\r\n     <li class=\"ag-analytics_item\">\r\n \u2013 US FOMC Member Bowman Speaks (m\/m) at&#160;16:20&#160;(GMT+3).\r\n    <\/li>\r\n    \r\n\r\n  <\/ul>\r\n\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Wednesday, October&#160;18\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nOn Wednesday, all investors&#8217; attention will be focused on the inflation data in the UK and the Eurozone. Volatility in pairs with the GBP and EUR will be higher. Analysts predict that UK inflation will show a 0.2% y\/y decline, while Eurozone inflation is expected to be unchanged. Market watchers will also be watching a flurry of economic data from China for signs of how the world&#8217;s second-largest economy is recovering. This data will have a strong impact on Asian indices and the Australian dollar. Economists expect China&#8217;s gross domestic product data to point to modest growth of&#160;4.4% year-on-year, still below Beijing&#8217;s target of around&#160;5% per year. At the end of the day, a number of speeches by FOMC officials are expected, which may cause an increase in volatility in US indices.\r\n  <\/div>\r\n\r\n <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 Australia RBA Gov Bullock Speaks at&#160;01:35&#160;(GMT+3);\r\n\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 China GDP (q\/q) at&#160;05:00&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 China Retail Sales (m\/m) at&#160;05:00&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 China Industrial Production (m\/m) at&#160;05:00&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 China Unemployment Rate (m\/m) at&#160;05:00&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 UK Consumer Price Index (m\/m) at&#160;09:00&#160;(GMT+3);\r\n    <\/li>\r\n       <li class=\"ag-analytics_item\">\r\n\u2013 UK Producer Price Index (m\/m) at&#160;09:00&#160;(GMT+3);\r\n    <\/li>\r\n      <li class=\"ag-analytics_item\">\r\n\u2013 Eurozone Consumer Price Index (m\/m) at&#160;12:00&#160;(GMT+3);\r\n\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 Eurozone ECB President Lagarde Speaks at&#160;12:00&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US Building Permits (m\/m) at&#160;15:30&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US Crude Oil Reserves (w\/w) at&#160;17:30&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US FOMC Member Williams Speaks (m\/m) at&#160;19:30&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US FOMC Member Bowman Speaks (m\/m) at&#160;20:00&#160;(GMT+3);\r\n    <\/li>\r\n       <li class=\"ag-analytics_item\">\r\n\u2013 US FOMC Member Harker Speaks (m\/m) at&#160;22:15&#160;(GMT+3).\r\n    <\/li>\r\n   \r\n  <\/ul>\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Thursday, October 19\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nThursday will be a calmer day. Market watchers will be keeping a close eye on Fed Chairman Jerome Powell&#8217;s comments when he speaks at the Economic Club of New York. Traders should also analyze data on the Australian labor market. Strong data will increase the probability of another rate hike by the RBA, which in turn may give a boost to the Aussie dollar.\r\n\r\n  <\/div>\r\n\r\n <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 Japan Trade Balance (m\/m) at&#160;02:50&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 Australia Unemployment Rate (m\/m) at&#160;03:30&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 Switzerland Trade Balance (m\/m) at&#160;09:00&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US Initial Jobless Claims (w\/w) at&#160;15:30&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US Philadelphia Fed Manufacturing Index (m\/m) at&#160;15:30&#160;(GMT+3);\r\n    <\/li>\r\n       <li class=\"ag-analytics_item\">\r\n\u2013 Canada Producer Price Index (m\/m) at&#160;15:30&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US Existing Home Sales (m\/m) at&#160;17:00&#160;(GMT+3);\r\n\r\n    <\/li>\r\n     <li class=\"ag-analytics_item\">\r\n\u2013 US Natural Gas Storage (w\/w) at&#160;17:30&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US Fed Chair Powell Speaks at&#160;19:00&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US FOMC Member Bostic Speaks (m\/m) at&#160;23:00&#160;(GMT+3).\r\n    <\/li>\r\n      \r\n  <\/ul>\r\n\r\n  <div class=\"ag-analytics_title\">\r\n    Friday, October 20\r\n  <\/div>\r\n  <div class=\"ag-analytics_title-list\">\r\nThe main event to watch on Friday is the Japan National Consumer Price Index. Economists forecast inflation to fall from&#160;3.1% to&#160;2.7% on an annualized basis. This will be extremely negative for the JPY, as it will put the Bank of Japan further away from the beginning of the process of normalization of monetary policy. Also, on Friday, it is worth paying attention to the inflation data in Hong Kong and retail sales data in the UK and Canada.\r\n\r\n  <\/div>\r\n\r\n  <div class=\"ag-analytics_title-list__strong\">\r\n    Main events of the day:\r\n  <\/div>\r\n\r\n  <ul class=\"ag-analytics_list\">\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 New Zealand Trade Balance (q\/q) at&#160;00:30&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 Japan National Consumer Price Index (m\/m) at&#160;02:30&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 China PBoC Loan Prime Rate (m\/m) at&#160;04:15&#160;(GMT+3);\r\n    <\/li>\r\n        <li class=\"ag-analytics_item\">\r\n\u2013 UK Retail Sales (m\/m) at&#160;09:00&#160;(GMT+3);\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 Hong Kong Inflation Rate (m\/m) at&#160;11:30&#160;(GMT+3);\r\n\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 Canada Retail Sales (m\/m) at&#160;15:30&#160;(GMT+3);\r\n    <\/li>\r\n      <li class=\"ag-analytics_item\">\r\n\u2013 US FOMC Member Harker Speaks (m\/m) at&#160;16:00&#160;(GMT+3);\r\n\r\n    <\/li>\r\n    <li class=\"ag-analytics_item\">\r\n\u2013 US FOMC Member Mester Speaks (m\/m) at&#160;19:15&#160;(GMT+3).\r\n    <\/li>\r\n     \r\n  \r\n     \r\n  <\/ul>\r\n<p class=\"ag-analytics_text\">by <span class=\"author vcard\"><span class=\"fn\">JustMarkets<\/span><\/span>, <span class=\"updated\">2023.10.16<\/span><\/p>\r\n<!--a href=\"\/analytics\/daily-forecast\" class=\"ag-analytics_link\">\r\n          We advise you to get acquainted with the daily forecasts for the major currency pairs.\r\n        <\/a--> <a class=\"ag-base-btn\" href=\"https:\/\/secure.justmarkets.eu\/es\/register\/?sl=1\">Open Account<\/a><\/div>\r\n<\/div>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Week&#8217;s main events (October 16 &#8211; October 20) Geopolitical tensions will remain at the forefront this week. Any hints of further escalation of the conflict in the Middle East will have a direct impact on the US dollar, gold, and oil prices. Also, the focus for investors will be on &#8230;<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[189],"tags":[],"class_list":["post-5788","post","type-post","status-publish","format-standard","hentry","category-analytics"],"featured_image_src":"","blog_images":{"medium":"","large":""},"acf":[],"aioseo_notices":[],"ams_acf":[{"key":"icon","label":"Icon","value":false}],"_links":{"self":[{"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/posts\/5788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/comments?post=5788"}],"version-history":[{"count":1,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/posts\/5788\/revisions"}],"predecessor-version":[{"id":5789,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/posts\/5788\/revisions\/5789"}],"wp:attachment":[{"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/media?parent=5788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/categories?post=5788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/justmarkets.eu\/es\/wp-json\/wp\/v2\/tags?post=5788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}