Today, the focus is on Netflix’s unfortunate period, favorable forecasts by the head of the White House, and Michel Barnier’s statements.
Calendar
12:30 UTC
The number of initial claims for unemployment benefits in the United States will be published. An increase of 860 thousand is predicted. If the real data turns out to be higher, the USD will decline.
Assets to trade: USD/CAD, USD/CHF
14:00 UTC
The report on the US Secondary Home Sales for September will be published. A growth of 6.3 million is expected. If the final data is higher, the USD will receive a positive push.
Assets to trade: USD/JPY, USD/CAD
22:45 UTC
New Zealand’s updated CPI for the third quarter will be released. Forecast: 0.9% growth. If the real data turns out to be lower, the NZD will receive a negative impulse.
Assets to trade: NZD/USD
News
A trade deal between the UK and the EU is still pending. Affects GBP
Netflix reported a drop in new user growth. Affects Netflix
White House chief of staff Mark Meadows said the new economic stimulus package could be passed before the weekend. Affects the S&P 500
PayPal will allow customers to store and transfer cryptocurrencies. Affects Bitcoin
Retail sales in Canada are declining. Affects CAD
Technical Analysis
GBP/USD
Chief EU negotiator Michel Barnier said a trade deal with the UK could still be done. Barnier noted that the agreement is “within sight.”
The news led to the growth of the British currency, however, the upper border of the upward channel may lead to a stop in the positive trend.
USD/JPY
The chart of the currency pair has formed a “triple top” reversal pattern, which indicates a weakening of the USD.
NZD/CAD
The asset chart may continue the positive trend amid negative statistics from Canada on the retail sales index.
NZD/CAD on this day in history
- Since 2000, October 22nd has been a trading day 13 times.
- On 70% of those days, the asset finished trading with growth.
- The maximum strengthening range was 1.24%.
- The downward trend was limited to 0.57%.