Today the focus is on the US Core Monthly CPI, Jobless Claims, and Crude Oil Inventories.
US Initial Jobless Claims. Forecast: 265K. If the actual figure is higher, USD may decline.
Assets to trade: USD/JPY, EUR/USD, GBP/USD
US Core Monthly CPI for October. Forecast: 0.4%. Higher-than-expected data may drive USD upwards.
Assets to trade: AUD/USD, USD/CAD, USD/CHF
A bullish streak as long as eight days hasn’t been seen in the US stock market for the last two decades. Affects S&P 500
More than half of Elon Musk’s 63-million Twitter subscribers suggested he should sell 10% of his Tesla shares to pay the recently proposed “billionaires tax.” That made Tesla shares drop by 5%. Affects Tesla
Meta, previously known as Facebook, will use chips produced by AMD. The announcement pushed the shares of AMD up 10%. Affects AMD
PayPal announced a partnership with Amazon to allow US customers to pay with Venmo. Affects Amazon
The Japanese Prime Minister Fumio Kishida shared ambitious plans for national wealth distribution to initiate a new cycle of growth. Affects JPY
The US stock market has lately been consistent in its optimism. The eight-day winning streak brought the index to 4,700.
The extrapolation of the previously set bullish trend suggests that reaching 4,800 in the near future is also a possibility.
With the ongoing Chinese regulatory crackdown, Alibaba is likely to keep dropping.
Breaking the resistance of 1,830 would mean that gold may be headed towards 1,900.