The week ahead brings earnings reports from several tech giants including Amazon and Apple. There are also some key economic reports in the coming week, including a first look at U.S. third-quarter GDP on Thursday. The European Central Bank holds its latest meeting against a background of persistent inflation pressures.
The Fed is likely to start tapering in November and the Bank of England has indicated that interest rate hikes are coming soon so the question is, will the ECB follow?
Thursday’s post-policy meeting press conference with ECB head Christine Lagarde will likely give investors a clue into December’s decision.
Evergrande has bought another week to deal with the looming debt crisis casting a shadow over the world’s second-largest economy and the Bitcoin rollercoaster rolls on.
Bitcoin hit an all-time high of $67,016 on Wednesday, rising above April’s record propelled by bets the first U.S. bitcoin futures exchange-traded funds would pave the way for more money to pour into digital assets.
The new ETFs track bitcoin futures rather than the cash price.
The new peak came after the world’s largest digital currency had struggled in recent months, briefly dipping below $30,000 as China cracked down on digital currencies.
Bitcoin volatility looks set to continue.
Turkey’s lira slid to a record low amid a diplomatic spat. The lira fell after Turkey’s President Recep Tayyip Erdogan said 10 ambassadors, including from the U.S., Germany, and France, were no longer welcome. They had demanded the release of a businessman and philanthropist.
Traders are also monitoring an outbreak of the delta virus strain in China that is expected to worsen. The nation sought to allay concerns about the economy’s slowdown with a lengthy state media commentary outlining how the government is managing risks and remains confident about achieving its targets for the year.
This Week’s High Impact Events
The times below are GMT +3.
Monday 25th October
No High Impact Events
Tuesday 26th October
17.00 – US – CB Consumer Confidence & Richmond Manufacturing Index
Potential instruments to Trade: US Crosses.
Wednesday 27th October
03.30 – Australia – CPI q/q & Trimmed Mean CPI q/q
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