Oil Prices Slide as Middle East Flows Recover 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
BOJ Set for Rate Hike as Inflation and Yen Pressure Mount 
Trump Eyes $54 Billion South Korean Investment in Alaska LNG 
Asian Stocks Rise as Chipmakers Rally on Micron Earnings 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Trump Demands Powell Resign Over Fed Renovation Cost Overruns 
US Stocks Slip as Treasury Yields Ease, AI Trade Rebounds 
Nasdaq Futures Jump as Micron Earnings Boost AI Trade 
South Korea Exports Surge 83.5% on AI Chip Boom 
Gold Plunges 4% as Treasury Yields Surge and Fed Rate Hike Bets Rise 
Grayscale Sees Zcash Gaining Market Share Against Bitcoin 
Solana Price Eyes $150 as ETF Inflows Extend 11-Week Streak 
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According to the CME Fed watch tool, market expectations for a Federal Reserve rate cut have decreased from 97% to 87% due to mixed U.S. economic data. The European Central Bank (ECB) is anticipated to cut rates by 25 basis points, given the economic challenges in the Eurozone, particularly in Germany. Market eyes Upcoming CPI releases from China, Canada, and New Zealand for further action from central banks. Major releases from the US are retail sales and initial jobless claims (Oct 17th, 12:30 pm GMT).
Earnings season is set to gain momentum, with major banks, including Blackrock and Bank of America, reporting results after JP Morgan exceeded profit projections. The positive market sentiment is reflected in recent gains in U.S. and European indices, despite ongoing concerns about oil prices and geopolitical factors.
Overall, the upcoming week is significant for economic data and market dynamics, as central banks' decisions could influence investor sentiment and trading strategies
UK Economic events to watch
UK CPI figures released on Wednesday are major economic data crucial for determining the Bank of England's potential actions, with a 75% chance of a 25-basis point cut on November 7 and a 60% chance of another in December. Upcoming reports on August employment (Oct 15th, 2024 6 am GMT) and September retail sales ( will assess wage growth and consumer spending. In the U.S., the earnings season becomes the focus, with major bank reports and retail sales data expected to provide insights into economic health. This week is packed with critical data influencing monetary policy and market sentiment. Overall, market participants are closely monitoring these developments.
