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Nasdaq in loss of -3.28% while Amazon and Netflix in green


Significant events to watch:

-CAN (CAD): Canada Interest Rate Decision

-EU (EUR): European Central Bank Press Conference

-USA (USD): U.S. Initial Jobless Claims

CAN (CAD): Canada Interest Rate Decision – Bank of Canada (BOC) governing council members come to a consensus on where to set the rate.Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the CAD, while a lower than expected rate is negative/bearish for the CAD

The previous Actual data was 5.00%. The forecasted data is 5.00%. The report is Wednesday, October 25, 2023, 19:30 GMT.

EU (EUR): European Central Bank Press Conference – The European Central Bank (ECB) press conference is held monthly, about 45 minutes after the Minimum Bid Rate is announced. The conference is approximately an hour long and has two parts. Firstly, a prepared statement is read, then the conference is open to press questions. The press conference examines the factors which affected the ECB’s interest rate decision and deals with the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy. High levels of volatility can frequently be observed during the press conference as press questions lead to unscripted answers.

The conference will be held onThursday, October 26, 2023, 18:15 GMT

USA (USD): U.S. Initial Jobless Claims – Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

The previous actual data was 198K while for this month the forecasted data is 212K. The report is due Thursday, October 26, 2023, 18:00 GMT.

Risers and Fallers

Nasdaq 100 (-3.28%)

Amazon (+4.32%)

Netflix (+12.5%)

Brent Oil (+1.54%)

Nasdaq 100 – The Nasdaq 100 declined by 3.28% in value last week, closing at almost 14,560. Nonetheless, the index has appreciated almost 12% in the previous 6 months.

Amazon – Amazon’s stock plunged by nearly 4.32% in the last 5 days. However, the stock has showed a notably positive performance in the past 6 months, registering over 17% gains.

Netflix  – Netflix’s stock jumped previous week, showing more than 12.5%  increase last week. It has performed remarkably good this year, registering gains of almost 35% year-to-date.

Crude Oil (Brent) – Crude oil’s price appreciated by 1.54% during the previous week. Currently, the commodity is trading at $92.43 per barrel.

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