The Market Horoscope – The week of October 28, 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 |
|---|---|---|---|
| 29/10/2024 | Tuesday | Consumer confidence | USD |
| 29/10/2024 | Tuesday | Job openings | USD |
| 30/10/2024 | Wednesday | CPI | AUD |
| 30/10/2024 | Wednesday | CPI | EUR |
| 30/10/2024 | Wednesday | Employment | USD |
| 30/10/2024 | Wednesday | GDP | USD |
| 31/10/2024 | Thursday | Interest rate | JPY |
| 31/10/2024 | Thursday | GDP | CAD |
| 31/10/2024 | Thursday | Employment | USD |
| 01/11/2024 | Friday | Employment | USD |
Market Insights
The Analysis
The most significant reports to be released this week will be on Wednesday, mainly the Non-farm employment change in the USA. Followed by the interest rate announcement from Bank of Japan. Expect significant volatility in the markets.
The Insights
The DXY (US Dollar Index) continues it's strong upward trend. We expect the DXY to go up to 105 before facing resistance.
The Action
Buy DXY at 103.66. This will mean that Equities, Gold and other currencies will be under pressure at least till the 31st of October, 2024.
The Timing
Mid-week, Wednesday or Thursday
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.