What will move the market on October 18-22?
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Asian equities edge up ahead of holiday weekend
On Friday, Asia-Pacific equities mostly ascended in thin preholiday trade, reacting to an overnight rebound in EU shares as well as mild profits on Wall Street.
In South Korea, Kospi gained 0.2%, Samsung Electronics rallied 0.8%. In Japan, the Nikkei NIK concluded morning trade down 6 points showing an outcome of 22,860.
The currency pair BTC/USD, dived in morning trade, descending to $13,200 from $15,800 in three hours before rapidly rebounding above $14,000. A great number of the biggest cryptocurrencies also went down considerably, with bitcoin cash diving 27% for the last day.
The common currency headed south in Asia trade after Catalonia’s separatist parties managed to win a majority in the regional assembly. The euro dived to $1.1815, although it has already rebounded to $1.1850.
Crude pulled back after fresh Thursday’s revenues. Both the global and American oil benchmarks descended 0.3%.
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Post-Fed Releases for USD & CAD Traders
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
FED and BOE Make Another Attempt to Beat Inflation
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
