Macro Update for the Week 17/10/2022 – 21/10/2022Oct 17, 2022

“Cash is now a safe – haven”

After a dramatic mixed picture week in which S&P 500 gained within a trading day +5,098% (pr. Close – next low -2,40% and low – high current day from 3491 to 3669), finally it lost -1,55%, Dow Jones gained +1,22%, Nasdaq Composite lost -3,15%, and Dax40 gained +1,34% on a weekly basis.

The Economic Calendar of the week (10/10 – 14/10) has very interesting readings, such as FED Budget Balance, China GDP for Q3, China Industrial production for September,  Germany ZEW Economic Sentiment, and Eurozone ZEW Economic Sentiment for October, US Industrial production for September, US API Weekly Crude Oil Stock, UK CPI YoY and Eurozone CPI for September, US Building permits for September, US Crude Oil Inventories weekly based, German PPI for September, U.S Initial Jobless Claims (weekly released), US Existing Home Sales for September, UK Retail Sales for September, including the speaking of Mrs. Lagarde and Mr. Powel.  

Gold To Rally in 2023? Watch The Elliott Wave pattern, COT data and US Yields. CLICK HERE


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