FOCUS OF THE WEEK!
Dear traders,
Start of October will be very informative due to the publication of business activity data, that will be during all week.
The week started on Sunday with the publication of data on business activity in the manufacturing sector of China, that will set the mood in the stock markets at the beginning of the trading week. Therefore, with a high probability with the opening of trading on Monday, the market will be affected by the mood. On Monday, business activity data will be released by Japan, Germany, the United Kingdom and the United States and it will retain significant activity in the market.
On Tuesday, market attention will shift to the interest rates decision in Australia and the speech of US Federal Reserve Chairman Powell. On Wednesday and Thursday, the business activity data in the UK, the USA and Canada will return to the forefront. At the same time activity at the start of the day will decrease due to a long weekend in China. The market will gradually start preparing for Friday’s employment report in the US.
On Friday, the main event of the week will be the publication of the US employment report (NFP), where relatively weak data is expected and, as a result, these expectations can serve as an excuse for correcting positions on the US currency by the end of the week.
From corporate calendar it is necessary to highlight the report of PepsiCo (PEP), from which a discreet report is expected, that will be released on Tuesday before the market’s opening.
Of the fundamental factors, it is worth highlighting the persistence of the US and China trade tensions, that are not going to decline. Also, the risks surrounding the Brexit negotiations will remain. An additional risk factor for the euro area was the uncertainty surrounding the Spanish budget, that also puts pressure on the euro. (Anton Hanzenko)
Have a good trading week!
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