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• The Week Ahead: 16th – 20th October 2023

The Week Ahead: 16th – 20th October 2023

Overview for the Week Ahead

EUR/USD failed to climb above 1.0650 and started a fresh decline. The Israel-Hamas war is sparking swing moves in the US dollar, gold, and oil prices.

Recently, Joe Biden warned Israel against occupying Gaza.

In the coming week, investors will continue to monitor the ongoing war between Israel and Hamas and any impact on oil prices and global markets.

Crude gained nearly 6% last week following the attack on Israel amid choppy trading.

Data on retail sales will give a fresh snapshot on how the back-to-school shopping season fared. Month-over-month sales are expected to rise +0.3% versus 0.6% in August. Year-over-year sales may increase +1.5% versus +2.5% during the same period a year ago, according to Trading Economics.

Tesla and Netflix are the two biggest companies with earnings on Wednesday.

In July, Tesla’s revenue and earnings per share came in above estimates for the second quarter of 2023 on $24.93 billion in total revenue, a 47% spike from the same three-month period in 2022. Tesla’s net income for the last quarter rose 19.7% compared to 2022’s second quarter.

Economic data on Wednesday includes mortgage applications, building permits, housing starts and EIA weekly crude stocks.

Have your trading charts ready this week!

This Week’s High Impact Events

The times below are GMT +3.

Monday 16th October

• 15.30 – US – Empire State Manufacturing Index

Potential instruments to Trade: USD Crosses. 

• 17.30 – Canada – BoC Business Outlook Survey

Potential instruments to Trade: CAD Crosses. 

• 17.30 & 23.30 – US – FOMC Member Harker Speaks

Potential instruments to Trade: USD Crosses. 

Tuesday 17^th October

• 00.45 – New Zealand – Monetary Policy Meeting Minutes

Potential instruments to Trade: NZD Crosses. 

• 03.30 – Australia – Monetary Policy Meeting Minutes

Potential instruments to Trade: AUD Crosses. 

• 09.00 – UK – Claimant Count Change

Potential instruments to Trade: GBP Crosses. 

• 15.30 – Canada – CPI m/m

Potential instruments to Trade: CAD Crosses. 

• 15.30 – US – Core Retail Sales m/m, Retail Sales m/m

Potential instruments to Trade: USD Crosses. 

Wednesday 18^th October

• 01.35 – Australia – RBA Gov Bullock Speaks

Potential instruments to Trade: AUD Crosses. 

• 05.00 – China – Industrial Production y/y, GDP q/y, Retail Sales y/y

Potential instruments to Trade: CNY Crosses. 

• 09.00 – UK – CPI y/y

Potential instruments to Trade: GBP Crosses. 

Thursday 19^th October

• 03.30 – Australia – Employment Change, Unemployment Rate

Potential instruments to Trade: AUD Crosses. 

• 15.30 – US –Unemployment Claims, Philly Fed Manufacturing Index

Potential instruments to Trade: USD Crosses. 

• 19.00 – US – Fed Chair Powell Speaks

Potential instruments to Trade: USD Crosses. 

Friday 20^th October

• 09.00 – UK – Retail Sales m/m

Potential instruments to Trade: GBP Crosses. 

• 15.30 – Canada – Core Retail Sales m/m, Retail Sales m/m

Potential instruments to Trade: CAD Crosses. 

• 16.00 – US – FOMC Member Harker Speaks

Potential instruments to Trade: USD Crosses. 

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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