The Market Horoscope – The week of October 21, 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 |
|---|---|---|---|
| 23-10-2024 | Wednesday | Interest rate | CAD |
| 24-10-2024 | Thursday | Manufacturing, Services PMI | EUR |
| 24-10-2024 | Thursday | Manufacturing, Services PMI | GBP |
| 24-10-2024 | Thursday | Unemployment claims | USD |
| 24-10-2024 | Thursday | Manufacturing, Services PMI | USD |
| 25-10-2024 | Friday | Retail | CAD |
Market Insights
The Insights
The DXY (Dollar Index) has been gaining strength since the beginning of October. However, it seems to be in an overbought area if it crosses 104.
The Analysis
No significant reports or events are scheduled until Thursday of the week. Expect volatility from Wednesday onwards, unless some geo-political events have triggered volatility in the early part of the week.
The Timing
Tuesday/ Wednesday
The Action
Short DXY at 104.This will signal bullishness in Equities, Gold and other currencies. Oil remains bearish
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.