Forex Signals Brief for Oct 15: Can Retail Sales Spark Markets
Rowan Crosby • 1 min read
It has been a rough week for equity investors as markets have been deeply in the red for the bulk of the week.
There was some respite on Friday, as the major indices managed to bounce, but there will be plenty of attention on US markets to see what the new week brings.
While there hasn’t been much good news around for investors, hopefully US retail sales can deliver an uptick. We’ve seen in the past that this is a market moving number and a beat will help build on Friday’s strong close.
Later in the week, we also get a look at the FOMC minutes. Let’s not forget that the US hiked rates in September and the rising US 10-year note yields are one of the key factors putting pressure on markets at the moment.
To add to everything that has been going on, we also start US earnings seasons, just to keep things interesting. So it should be another big week ahead.
Forex Signal Update
The FX Leaders Team finished the week with 12 wins and 11 losses. It was a great fightback after what was a slow start.
Gold – Pending Signal
Gold broke out of its range last week and spiked to the upside. We’ve been on a pretty big slide in recent months and this was the first sign off life. The question now turns to whether we can hold on to these gains?
Bitcoin – Active Signal
For the most part, the big spike lower in Bitcoin appears to be holding. We didn’t quite test the $6,000 level but price is below resistance at the moment. Price attempted to break higher on Friday, but in the short-term, the bears remain in control.