With trading sessions for the week starting November 8 now into their second day, here are the top five things to watch in markets.
US September-Quarter Earnings Season
Expect to see reports from a number of blue-chip companies such as AstraZeneca and PayPal, as well as newcomer Coinbase (Coin), the latter being one of the largest crypto exchanges nowadays.
US Inflation Data
The “mugger” known as inflation is expected to increase by 0.6% in October, on the back of rising energy prices. Other things being equal, this should push the annual inflation rate to 5.8%.
Australian Labor Force Data
The job news from down under is expected to be mixed. On the one hand, the market is looking for a 50,000 rise in employment. On the other hand, the unemployment rate is expected to rise pointedly to 4.7% as lockdowns ease.
Analysts were busy last week covering news of OPEC+ refusing to increase production despite repeated requests from oil-consuming countries. It remains to be seen if the US and key allies will deliver on their threat to release oil from their strategic reserves deposits.
Gold, which gained 1.95% last week, is expected to rise higher in the coming days, with some anticipating it to hit the $1,910 mark.
As a FOREX broker, be it at the beginners’ stage or advanced, you should keep an eye on this space for breaking news and important developments. Remember, financial decisions to buy or sell should always be based on an informed discussion and solid data and so the need to stay up to date is paramount to avoid big losses and unnecessary exposure.