Joe Perry
Joe Perry CMT
US Market Analyst
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Week Ahead: OPEC+, RBA, BOC, and China CPI
Although this may be a light week for economic data, there are plenty of events taking place that could cause the markets to be volatile.
Non-farm Payrolls stronger than expected. Does that change the Fed’s plan?
Chances are that Powell and gang stick to the plan and only hike 50bps. However, that’s not to say that they can’t increase rates later if they deem it necessary.
What’s next for the highly correlated assets of Gold and DXY?
As long as this correlation holds, traders can get clues as to where Gold may be headed based on the direction of the DXY.
US Core PCE lower in September; USD continues lower
If Core PCE continues to fall over the coming months, the Fed may end up hiking rates less than it expects, or even cutting rates before the end of next year.
Powell's Brooking Institute speech is a dovish version of his November 2nd FOMC press conference
This was the unofficial pivot the markets have been waiting for.
OPEC+ preview: Will OPEC+ cut production again?
According to recent “sources”, OPEC+ is likely to leave production unchanged when it meets virtually on December 4th.
Canadian Q3 GDP surprises to upside but the Canadian Dollar moves lower
USD/CAD made a large move higher today, though it doesn’t seem like it was based on fundamentals.
GBP/USD: What’s with all that?
If GBP/USD can move lower due to the Fed being more aggressive than the BOE, is the reverse true as well?
Currency Pair of the Week: USD/CNH
With Fed Chairman Powell speaking, US Core PCE and Non-Farm Payrolls, along with the increase In Covid cases and unrest in China, USD/CNH could be volatile this week.
FOMC Minutes show Fed hiking rates at a slower pace
Based on today’s FOMC Minutes it appears that the Fed wants to hike rates at a slower pace in December than it did in November.
Tesla (TSLA) hits its lowest share price since November 2020
With recalls, worries about the impact of Covid in China, and the focus on Elon Musk at Twitter, Tesla shares have been selling off aggressively.