The Market Horoscope – The week of August 19, 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:
| Event Date | Econ Event | Event Currency |
|---|---|---|
| 20/8/2024 | CPI | CAD |
| 21/8/2024 | FOMC Meeting Minutes | USD |
| 22/8/2024 | Manufacturing, Services PMI | EUR |
| 22/8/2024 | Manufacturing, Services PMI | GBP |
| 22/8/2024 | Unemployment Claims | USD |
| 22/8/2024 | Manufacturing, Services PMI | USD |
| 23/8/2024 | Retail | CAD |
Market Insights
The Insights
The markets returned to calm after the shock of the previous week, when we witnessed big moves on key currencies like Japanese Yen and Equities. US$ showed some weakness towards the end of the week.
The Analysis
Manufacturing and Services PMI will be released from major European economies and the US. These reports will indicate inflation related trends, which will give the markets direction in terms of when to expect Interest Rates on the US$ to go down.
The Timing
Monday/ Tuesday
The Action
Short USD and go long on other currencies and commodities—mainly Gold. GBP seems to be the strongest currency at this point.
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.