Here is what you need to know about the important news between October 17th 2022 and October 21st 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key correlated assets.
U.S. dollar index
Dollar Index retreated to 113 with the closing of previous week, opening this week continuing the fall to 112.80. Hawkish Fed bets probe the DXY sellers as traders begin a light calendar week. Also, a light calendar in Asia allows the DXY buyers to take a breather.
Gold
Prices of gold retreated for the second session in a row on Friday due to rising open interest. Analysts expect further declines are not ruled out in the very near term, and the precious metal could revisit the yearly low near $1,615 per ounce
Oil
Oil started the week with small rise on prices, recovering last week’s losses as more OPEC+ members expressed support for a recent production cut of over 2 million barrels per day despite increased opposition by the United States.
Stocks
Third quarter earnings season kicks off. Ahead in the week, Rio Tinto (NYSE:RIO), Bank of America Corp (NYSE:BAC), Bank of New York Mellon (NYSE:BK), and Charles Schwab Corp (NYSE:SCHW) are set to report on Monday, while Netflix Inc (NASDAQ:NFLX), International Business Machines (NYSE:IBM), and Tesla Inc (NASDAQ:TSLA) are set to deliver results later in the week. Meantime, NY Empire State and Philadelphia Fed manufacturing indices, industrial production, building permits, housing starts, and existing home sales data as well as speeches from the Fed’s Bullard, Bowman and the FOMC’s Williams are also scheduled for this week.
Economic calendar most important releases – All times are GMT
Monday, October 17, 2022
12:30 USD Empire State Manufacturing Index
Tuesday, October 18, 2022
00:30 AUD Monetary Policy Meeting Minutes
02:00 CNY GDP q/y
Wednesday, October 19, 2022
06:00 GBP CPI y/y
12:30 CAD CPI m/m
12:30 CAD Median CPI y/y
12:30 CAD Trimmed CPI y/y
Thursday, October 20, 2022
00:30 AUD Employment Change
00:30 AUD Unemployment Rate
Friday, October 21, 2022
06:00 GBP Retail Sales m/m
12:30 CAD Core Retail Sales m/m
12:30 CAD Retail Sales m/m
Thanks for reading! Have a great week!
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