Last Week Risers & Fallers:
- Dow Jones (Dow 30) – The Dow Jones rallied this week, gaining 1.29% to reach 35,677 on Friday. The index gained despite a disappointing earnings report from Intel. American Express was the biggest winner on the Dow, rising by 5.4%.
- Nvidia (Nasdaq: NVDA) – Nvidia gained 0.15% on Friday and 4.55% for the week, closing at $227.26 per share. Nvidia is in the process of acquiring Arm technologies in a deal that’s worth $54 billion.
- Alphabet (Nasdaq: GOOGL) – Alphabet’s share price declined by 2.49% this week, closing at $2751.33 per share on Friday. According to an ongoing lawsuit, Google retains 22% to 42% of US ad spending online. However, Google’s stock took a hit due to Snap’s Thursday evening warning that its advertising growth would be slowing down going forward.
- GBPUSD – The GBPUSD pair declined by 0.24% this week and reached 1.3780. From a price action point of view, the pair is moving in a downwards channel. The price has broken above, indicating buying pressure.
Major events to watch:
- AUSTRALIA (AUD): Consumer Price Index (CPI) QoQ – The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a crucial way to measure changes in purchasing trends and inflation.
The last CPI number, reported in July, was 0.8%, better than the forecast.
The report is due Wednesday, 27 October at 02:30 GMT+2
- USA (USD): Crude Oil Inventories – The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation. Last week’s number was
-0.431 million barrels, which is better than the forecast of 1.857 million.
The report is due Wednesday, 27 October at 16:30 GMT+2
- GERMANY (EURO): German unemployment change – German unemployment change measures the difference in the number of unemployed people during the previous month. September’s unemployment change was -30,000, which was worse than the forecast of -20,000.
The report is due Thursday, 28 October at 09:55 GMT+2
