Macro Update for the Week 31/10/2022 – 4/11/2022Oct 31, 2022

Despite the ECB’s decision for another hike of 75 bp on interest rate last Thursday, on a weekly basis, the rally continued with S&P 500 gaining +3,95%, Dow Jones Industrial Average +5,83%, Nasdaq Composite +2,09, and DAX40 +4,03%.

The Economic Calendar of the week (24/10 – 28/10) has very interesting readings, such as German Retail Sales for September, Eurozone CPI for October, US M2 Money Supply, OPEC Meeting, US ISM Manufacturing PMI for October, US Job Openings for September, German Trade Balance for September, German Manufacturing PMI for September, German Unemployment Change for October, Eurozone Manufacturing PMI for October, US Crude Oil Inventories weekly based, US Nonfarm Employment Change for October, FED Interest Rate Decision, UK Interest Rate Decision, Eurozone Unemployment Rate, U.S Initial Jobless Claims (weekly released), US Trade Balance for September, German Factory Orders for October, German Services PMI for October, including the speaking of Mrs. Lagarde and Mr. Powel.  

by Stavros Chanidis

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