The previous week in the markets was very volatile, and the situation around debt securities played a key role in creating investor sentiments. Yields will also remain in focus next week with the release of the FOMC minutes and US CPI data for September. Moreover, Wall Street's Q3 2023 earnings season is about to begin. Be sure to watch GOLD, US500 and EURGBP in the coming week!
GOLD
Gold has had a tough time recently, with a strong rise in yields in the U.S. pushing the precious metal price lower. The price of gold has fallen 6% over the past two weeks and has dropped to levels not seen since early March 2023. The publication of the FOMC minutes (Wednesday, 7:00 BST), as well as the US CPI data for September (Thursday, 1:30 pm BST) will be key for the USD, yields and gold this week. It should also be noted that also very important PPI data for September (Wednesday, 1:30 BST) will be released before the CPI.
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The second week of October has begun, and that means it's time for the start of Wall Street's Q3 2023 earnings season! As usual, the start of the results season will be dominated by reports from financial institutions. Other companies will also present reports. This week's highlights include PepsiCo (Tuesday), Delta Air Lines (Thursday), Walgreens Boots Alliance (Thursday), BlackRock (Friday), Citigroup (Friday), JPMorgan (Friday), Unitedhealth Group (Friday) and Wells Fargo (Friday).
EURGBP
EURGBP may be one of the currency pairs that will experience larger movements this Thursday. This is because investors will receive the monthly data package from the UK, as well as the last ECB meeting minutes. UK GDP is expected to have grown by 0.2% m/m in August, while industrial production for the month fell by 0.1% m/m. The ECB suggested in September that its hike cycle was likely over, and investors will look for more informations about signals of ended rate hikes cycle in eurozone.
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