US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
JPM, BAC, CITI: three destinies
Next week, we are going to have quarterly reports from our favorite banks: JPMorgan and Citigroup on Tuesday (15:30 MT and 17:00 respectively), and Bank of America on Wednesday (15:30 MT). What do their stocks have from the technical perspective so far?
JPM and BAC present very similar pictures. A launch from the bottoms of mid-summer, unstable growth, tactical high at the end of July, trembling, then a slump to the same bottom of mid-summer. Currently, both banks are recovering the losses from that slump, with JPM being closer to the summer heights and the BAC a bit slower.
With Citigroup, the picture is a bit different. This stock has been trading flat between $49 and 53$ per share since May. Only recently it left this sideways channel with the rest of the sectors to drop to slightly above the April supports. Currently, it is recovering, and still has a considerable distance to cover before it comes back to the range of $49-53 it was in during the summer.
If you like a general fundamental outlook, it will be fair to say that JPM stock is more volatile, BAC is somewhat more optimistic, and Citigroup is the slowest among the three.
So be there for the quarterly reports on Tuesday and Wednesday, and make sure you set you trades accordingly.
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The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
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?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.