Jump to content

The Week Ahead On The Markets


MongiIG

1,880 views

The Week Ahead

Read about upcoming market-moving events and plan your trading week

 
                                                      image.png

Week commencing 18 October

Chris Beauchamp’s insight

US earnings season is in full swing now, with a host of companies reporting earnings. In addition, we have Q3 GDP from China, UK CPI and then flash PMIs from around the globe.

 

Economic reports

  • Weekly view

Monday

3am – China GDP (Q3): expected to be 0.5% QoQ and 5.2% YoY. Markets to watch: China indices, CNH crosses

Tuesday

1.30pm – US housing starts & building permits (September): permits to fall 4.6% MoM and starts to rise 2%. Markets to watch: USD crosses

Wednesday

7am – UK CPI (September): prices to rise 3.2% YoY and 0.4% MoM, and core CPI to rise 2.9%. Markets to watch: GBP crosses

1.30pm – Canada CPI (September): prices to rise 4.1% YoY. Markets to watch: CAD crosses

3.30pm – US EIA crude oil inventories (w/e 15 October): stockpiles rose by 6.1 million barrels in the previous week. Markets to watch: Brent, WTI

Thursday

1.30pm – US initial jobless claims (w/e 16 October), Philadelphia mfg index (October): claims to fall to 317K and Philly Fed to drop to 25. Markets to watch: US indices, USD crosses

3pm – US existing home sales (September): sales to fall 1.5% MoM. Markets to watch: USD crosses

Friday

12.30am – Japan CPI (September): prices to fall 0.2% YoY. Markets to watch: JPY crosses

7am – UK retail sales (September): sales to rise 1% YoY and 1.5% MoM. Markets to watch: GBP crosses

8.15am – 9am – French, German & eurozone PMIs (October, flash): these are expected to drop back slightly, but remain solidly in expansion territory (i.e. above 50). Markets to watch: eurozone indices, EUR crosses

9.30am – UK PMIs (October, flash): services PMI to fall to 54.7 and mfg PMI to drop to 56.2. Markets to watch: GBP crosses

2.45pm – US PMIs (October, flash): expected to fall to 54 for services and to 60.4 for manufacturing. Markets to watch: US indices, USD crosses

 

Company announcements

 

 

Monday
18 October

Tuesday
19 October

Wednesday
20 October

Thursday
21 October

Friday
22 October

Full-year earnings

  Bellway      

Half/ Quarterly earnings

Schroders,
Philips
Centamin,
Netflix,
Johnson & Johnson
Avast,
Metro Bank,
Tesla,
IBM
Barclays,
Unilever,
American Airlines,
Intel,
AT&T
LSE,
Intercontinental Hotels,
American Express,
Honeywell

Trading update

         

 

 

Dividends

FTSE 100: BAE Systems, Smiths Group

FTSE 250: Coats Group, Marshalls, PZ Cussons

 

Dividends are applied after the close of the previous day’s session for each market. So, for example, the FTSE 100 goes ex-dividend on a Thursday, but the adjustment is applied at the close of the previous day, e.g. Wednesday. The table below shows the days in which the adjustment is applied, not the ex-dividend days.

 

Index adjustments

  Monday
18 October
Tuesday
19 October
Wednesday
20 October
Thursday
21 October
Friday
22 October
Monday
25 October
FTSE 100  

 

1.56      
Australia 200            
Wall Street     5.7 7.3    
US 500 0.07 0.05 0.33 0.07 0.02 0.03
Nasdaq         0.17  
Netherlands 25         0.1  
EU Stocks 50         0.2  
China H-Shares            
Singapore Blue Chip            
Hong Kong HS50 1.7          
South Africa 40   37.9        
Italy 40            
Japan 225            

0 Comments


Recommended Comments

There are no comments to display.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Blog Statistics

    • Total Blogs
      3
    • Total Entries
      2,822
  • Latest Forum Topics

  • Our picks

    • International Workers' Day & Early May Trading Hours
      Please be advised that our opening hours will be adjusted on 1 May 2024 for International Workers’ Day and 6 May 2024 for the UK Early May Bank Holiday. Where appropriate, the times listed are in GMT.
        • Like
    • Are these the best AI stocks to watch in May 2024?
      Microsoft, Apple, Nvidia, Amazon and Meta could be the best AI stocks to watch next month. These stocks are the largest AI stocks in the US based on market capitalisation.
    • Natural Gas Commodity Elliottwave Technical Analysis
      Natural Gas



      Mode - Impulsive 



      Structure - Impulse Wave 



      Position - Wave (iii) of 5



      Direction - Wave (iii) of 5 still in play



       



      Details:  Price now in wave iii as it attempts to breach 1.65 wave i low. Wave (iii) is still expected to extend lower in an impulse.



       



      Natural Gas is currently breaching the previous April low, marking a decisive move as the impulse initiated on 5th March continues its downward trajectory, further extending the overarching impulse wave sequence that commenced back in August 2022. This decline is anticipated to persist as long as the price remains below the critical resistance level of 2.012.



       



      Zooming in on the daily chart, we observe the medium-term impulse wave originating from August 2022, which is persisting in its downward trend after completing its 4th wave - delineated as primary wave 4 in blue (circled) - at 3.666 in October 2023. Presently, the 5th wave, identified as primary blue wave 5, is underway, manifesting as an impulse at the intermediate degree in red. It is envisaged that the price will breach the February 2024 low of 1.533 as wave 5 of (3) seeks culmination before an anticipated rebound in wave (4). This confluence of price movements underscores the bearish sentiment prevailing over Natural Gas in the medium term.



       



      Analyzing the H4 chart, we initiated the impulse wave count for wave (3) from the level of 2.012, which marks the termination point of wave 4. Notably, price action formed a 1-2-1-2 structure, with confirmation established at 1.65 and invalidation set at 2.012. The confirmation of our anticipated direction materialized as price breached the 1.65 mark, signifying a resumption of bearish momentum. Presently, there appears to be minimal resistance hindering the bears, thereby reinstating their dominance in the market. It is projected that wave iii of (iii) of 5 will manifest around 1.43, indicative of the potential for the wave 5 low to extend to 1.3 or even lower. This comprehensive analysis underscores the prevailing bearish outlook for Natural Gas in the immediate future.



       







       







       




      Technical Analyst : Sanmi Adeagbo
       
        • Like
×
×
  • Create New...
us