CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

OCTOBER 2024 EVENTS - 27/09/2024

Micro Analysis

27 September, 2024

For General Information only. Not Intended to Provide Trading or Investment Advice. Your Capital is at Risk.

  • US ISM Manufacturing PMI for September (October 1st at 15:00 GMT+1)

ISM Manufacturing PMI previous print was 47.2. The number was lower than the expected 47.5.

Possible influence: Volatile US Dollar, Gold and US Stocks

  • OPEC+ Joint Ministerial Monitoring Committee (JMMC) (October 2nd at 11:00 GMT+1)

OPEC+ members (including Russia) will meet and are expected to make no major changes to the current deal. In September OPEC decided to delay unwinding production cuts from October until December.

Possible Influence: Volatile Crude oil

  • U.S. Unemployment Rate and Non-Farm Payrolls (NFP) (September) (October 4th at 13:30 GMT+1)

The previous month had unemployment at 4.2%. Nonfarm Payrolls for the previous month printed 142,000.

Possible Influence: Volatile US Dollar, Gold and US Stocks

  • US Inflation data (September) (October 10th at 13:30 GMT+1)

Core CPI (excluding food and energy) was 3.2%, Year-over-Year in August. Top-line CPI for August came in at 2.5%, in line with expectations.

Possible Influence: Volatile US Dollar, Gold and US Stocks

  • Tesla Robotaxi event (October 10th)

This event will showcase the Full Self-Driving Robotaxi prototype which will be unveiled at Warner Bros studio in California.

Possible Influence: Volatile Tesla and US Stocks

  • European Central Bank Meeting (October 17th at 13:15 GMT+1)

The European Central Bank will meet to discuss interest rates. Rates are currently at 3.65% after a rate cut of 25 basis points in September. Rates are expected to remain at 3.65% but there is a smaller possibility of a cut of 25 basis points.

Possible Influence: Volatile Euro and European Stocks

  • US Retail Sales (September) (October 17th at 13:30 GMT+1)

Month-over-Month Retail Sales was at 0.1% in August, which was higher than expected by the market.

Possible Influence: Volatile US Dollar, Gold and US Stocks

  • BRICS Summit (October 22nd)

BRICS countries Brazil, India, China, South Africa, UAE, Saudi Arabia, Iran and Egypt will meet in Kazan, Russia for its annual summit. Leaders such as Putin, Xi Jinping and Erdogan (Turkey may join BRICS soon) are expected to discuss economic and political issues. BRICS is considered an economic / political rival to the western led global order.

Possible influence: Commodities, Gold, Stocks

  • Bank of Canada Meeting (October 23rd at 14:45 GMT+1)

The Bank of Canada will meet to set interest rates. They are currently 4.25% after the bank cut interest rates in September by 25 basis points. Rates are expected to be cut by either 25 basis points or 50 basis points this month.

Possible Influence: Volatile Canadian Dollar and Canadian Stocks

  • Bank of Japan Meeting (October 31st at 04:00 GMT+1)

The Bank of Japan will meet to set its interest rates. In July the bank increased rates by 15 basis points to 0.25%.

Possible Influence: Volatile Japanese Yen

  • Company Q3 Earnings Season (October)

The 3rd Quarter earnings season kicks off in October with big banks being the first to declare their results with the world’s largest listed companies following on. JP Morgan and Wells Fargo will post results on October 11th. On October 15th Bank of America and Goldman Sachs and Citigroup are expected to reveal their results. Tesla is expected to post its results on October 16th, Netflix is expected to declare on October 17th. Microsoft should post on October 22rd. Facebook is expected to declare on October 23th with Apple expected on October 24th, while AMD is scheduled to announce results on October 29th.

Possible Influence: Volatile US Stocks

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