The Market Horoscope – The week of October 7, 2024
Welcome to The Market Horoscope, our weekly publication providing insights into the financial markets. We analyze stocks, commodities, cryptocurrencies, and forex to forecast potential market movements and help you navigate the complex market landscape.
Market Outlook
Key Economic Events This Week:
| Date | Day | Event/ Report | Currency |
|---|---|---|---|
| 09-10-2024 | Wednesday | Interest rate | NZD |
| 09-10-2024 | Wednesday | FOMC | USD |
| 10-10-2024 | Thursday | CPI | USD |
| 10-10-2024 | Thursday | Unemployment claims | USD |
| 11-10-2024 | Friday | GDP | GBP |
| 11-10-2024 | Friday | Employment | CAD |
| 11-10-2024 | Friday | PPI | USD |
Market Insights
The Insights
The market had to adjust for the new developments on the geo-political stage, especially, the attack from Iran at the beginning of the week. US$ and Gold gained as investors rushed for safe havens. Oil had it's best week of 2024 with prices rallying more than 10%.
The Analysis
Geo-political events rather than economic reports will drive asset valuation and price action in the upcoming week. Investors must be prepared for a highly volatile week in the financial markets. Expect the US$ to go down to the 100.5 level.
The Timing
Tuesday, Wednesday
The Action
Short the Dollar Index at 103. Expect Oil to also give up some of the gains. Equities and Gold are bullish.
Having a solid understanding of the economic cycle is crucial. Reacting to news and reports in real-time can be counterproductive. We are committed to providing accurate market forecasts and welcome your feedback and questions on our predictions. Your engagement helps us refine our insights and better serve you.
Note: Our predictions are based on current data and market trends. Before making investment decisions, consider your risk tolerance and consult a financial advisor.