Markets hopeful for Federal Reserve rate cut as investors await key earnings and data releases.

From Investing.com: 2024-10-11 15:22:00

Market participants were disappointed with the slow start of the week, but US and European indices rallied higher toward the end on hopes of a rate cut from the Federal Reserve. Market pricing is now at an 87% probability for a 25 bps rate cut. JPMorgan Chase & Co has reported positive earnings, with tech giants like Netflix and TSM scheduled to report next week. The week ahead is packed with key data releases, including interest rate decisions from the ECB and the Bank of England. The US earnings season kicks off with banks and retail sales in focus.

In Asia, markets await Chinese CPI and a potential stimulus plan from China. Australia and New Zealand have key data releases, with the RBNZ expected to cut rates following softer than expected inflation. In Europe, the ECB is expected to cut rates by 25 bps, while the UK anticipates a possible rate cut. In the US, the earnings season takes precedence, with a focus on banks and retail sales. The DXY is facing a key confluence area, with support at 103.20 and resistance at 103.65. The Gold market is also showing an interesting technical pattern with potential upside.



Read more at Investing.com: Markets Weekly Outlook: Bank Earnings, ECB Rate Decision in Focus