This week's hotter-than-expected US CPI reading, which came on the heels of a robust jobs report, slashed any hopes of a policy pivot and added to expectations for another jumbo interest rate hike in November. Next week, investors will focus on reports from large US tech companies like Tesla or Intel. GBPUSD may get a chance to move on Wednesday when fresh inflation figures will be released. Last but not least, Chinese indices may experience higher volatility on Tuesday when several key macroeconomic readings will be released. Be sure to watch US100, GBPUSD and CHNComp next week.
US100
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Create account Try a demo Download mobile app Download mobile appFirst week of the US Q3 earnings season was dominated by big banks, as usual. The second week is usually dominated by tech companies, and things are no different this time. Among next week's earnings reporters, investors can find Netflix (Tuesday), Tesla (Wednesday), as well as IBM (Wednesday). Tech stocks usually report after the close of the Wall Street session. Nasdaq-100 (US100) managed to recoup most of last week's losses and reports from major indexDecy' members will set direction next week.
GBPUSD
GBPUSD pair had another volatile week amid uncertainties regarding changes to the mini budget which triggered gilt-market turmoil. In addition to the statements of British politicians regarding taxation, GBP traders will watch UK CPI reading for September closely next week (Wednesday, 7:00 am BST). Another acceleration in price growth may hint that BoE will have to hike rates further and it may put additional pressure on the economy and GBP as well.
CHNComp
CHNComp- Chinese stocks managed to halt recent downward move at the end of last week after PBoC vowed stronger support to the real economy amid an ongoing battle against Covid-19, which overshadowed recent weak inflation figures. Fresh data showed that consumer prices in China surged to a 29-month high in September, while producer prices rose the least in 20 months. China's retail sales, GDP and industrial production figures will be released on Tuesday at 3:00 am BST and should provide more details regarding the condition of the second largest economy in the world. Also investors will focus on week-long China’s 20th Communist Party Congress. Chinese President Xi Jinping is expected to win a third term at the event and his speech may give a broad outline of the priorities for the next five years.
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