Last week in the financial markets was marked by a strengthening of the US dollar and a sell-off in cryptocurrencies. It seems that the potential factors creating volatility in the market will be plentiful next week, so it is worth keeping a close eye on the scheduled macro events. Among other things, investors will learn about quarterly reports from companies such as Tesla, Netflix and LVMH, as well as the ECB and BoC's interest rate decisions. Be sure to watch the US100, EURUSD and USDCAD in the coming week!
US100
Wall Street's Q4 2023 earnings season is starting in earnest, so investors should pay close attention to the results of Wall Street's largest capitalization technology companies. Next week's scheduled results from Tesla (Wednesday) and Netflix (Tuesday) are sure to generate a lot of interest in the market, and this could test the US100 index, which broke out to new historic highs at the end of last week. Also, important macro readings from US such as manufacturing and services PMI's on Wednesday, GDP on Thursday and PCE inflation scheduled on Friday may bring higher volatility on Wall Street.
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The coming week is not only about companies, but also monetary decisions of the highest importance. On Thursday we will learn, the ECB's decision on interest rates. Investors' attention will focus primarily on ECB chair, Christine Lagarde's comments. The fate of the anticipated March decision on the first-rate cut by 25 basis points may depend on them. Not only European, but also important US macro data will be highly anticipated by EURUSD traders, next week.
USDCAD
Another bank that will present its latest monetary policy stance is the Bank of Canada. According to the money market, the implied path of interest rates is slightly flatter for the BoC against the Fed and the ECB, nevertheless, the mixed CPI inflation data released last Tuesday may encourage bankers to change their current stance.
