Important Information

You are visiting the international Vantage Markets website, distinct from the website operated by Vantage Global Prime LLP
( www.vantagemarkets.co.uk ) which is regulated by the Financial Conduct Authority ("FCA").

This website is managed by Vantage Markets' international entities, and it's important to emphasise that they are not subject to regulation by the FCA in the UK. Therefore, you must understand that you will not have the FCA’s protection when investing through this website – for example:

  • You will not be guaranteed Negative Balance Protection
  • You will not be protected by FCA’s leverage restrictions
  • You will not have the right to settle disputes via the Financial Ombudsman Service (FOS)
  • You will not be protected by Financial Services Compensation Scheme (FSCS)
  • Any monies deposited will not be afforded the protection required under the FCA Client Assets Sourcebook. The level of protection for your funds will be determined by the regulations of the relevant local regulator.

If you would like to proceed and visit this website, you acknowledge and confirm the following:

  • 1.The website is owned by Vantage Markets' international entities and not by Vantage Global Prime LLP, which is regulated by the FCA.
  • 2.Vantage Global Limited, or any of the Vantage Markets international entities, are neither based in the UK nor licensed by the FCA.
  • 3.You are accessing the website at your own initiative and have not been solicited by Vantage Global Limited in any way.
  • 4.Investing through this website does not grant you the protections provided by the FCA.
  • 5.Should you choose to invest through this website or with any of the international Vantage Markets entities, you will be subject to the rules and regulations of the relevant international regulatory authorities, not the FCA.

Vantage wants to make it clear that we are duly licensed and authorised to offer the services and financial derivative products listed on our website. Individuals accessing this website and registering a trading account do so entirely of their own volition and without prior solicitation.

By confirming your decision to proceed with entering the website, you hereby affirm that this decision was solely initiated by you, and no solicitation has been made by any Vantage entity.

I confirm my intention to proceed and enter this website Please direct me to the website operated by Vantage Global Prime LLP, regulated by the FCA in the United Kingdom

By providing your email and proceeding to create an account on this website, you acknowledge that you will be opening an account with Vantage Global Limited, regulated by the Vanuatu Financial Services Commission (VFSC), and not the UK Financial Conduct Authority (FCA).

  • Please enter a valid email address

    • Please tick all to proceed

  • Please tick the checkbox to proceed
  • Please tick the checkbox to proceed
Proceed Please direct me to website operated by Vantage Global Prime LLP, regulated by the FCA in the United Kingdom.

×

Are you long or short on indices?

Trade Indices Now >
Long Or Short On Indices?
View More
Language
SEARCH
  • All
    Trading
    Platforms
    Academy
    Analysis
    Promotions
    About
  • Search
Keywords
  • Forex Trading
  • Vantage Rewards
  • Spreads
Popular Search
  • Trading Accounts
  • MT4
  • MT5
  • Copy Trading
  • Promotions
  • facebook
  • instagram
  • twitter
  • linkedin
  • youtube
  • tiktok
  • spotify
HomeRight Arrow Market AnalysisRight Arrow Weekly AnalysisRight Arrow Weekly Outlook | Key indicators and market effects following a strong NFP report.

Weekly Outlook | Key indicators and market effects following a strong NFP report.

Vantage Updated Updated Wed, 2024 October 9 03:10
Weekly Outlook | Key indicators and market effects following a strong NFP report.

Important events this week:

Markets continue to trade with the influence of the strong NFP data from last week. The figure came in much stronger causing the Dollar to gear up some momentum. Stock markets on the other hand did not lose momentum, potentially fueled by the expectation that the Fed will be on the correct path to lower interest rates even further. Oil prices continue to be influenced by geopolitical tensions form the Middle East.

New Zealand Interest Rate – The RBNZ will announce its interest rate decision on Wednesday October 9, 2024, at 1:00 am GMT, with a forecasted cut from 5.25% to 4.75%. In August 2024, the bank unexpectedly lowered the OCR by 25 basis points to 5.25%, its first reduction since March 2020, after nine consecutive holds.

On the NZDUSD weekly chart, bearish pressure was evident and the market closed at 0.6154. Although it traded above the 50 MA, a break below the uptrend line at 0.6287 indicates a possible trend reversal towards the 0.5850 zone.

U.S Inflation Rate ( CPI )  MoM – The US CPI for October 2024 is set for release on Thursday, 10th at 12:30 pm GMT, with a forecast of 0.1%. In August 2024, CPI ticked up 0.2% MoM, matching July’s figure.

The USDCAD weekly chart showed bullish momentum closing at 1.3573. Despite a bearish signal from the 50 MA, the bounce from the uptrend line at 1.3418 indicates upside potential. If this support holds, targets of 1.3650 and 1.3950 are possible. A breakout above the 50 MA would confirm continued bullish momentum.

U.K Monthly GDP – On Friday, 11 October 2024, at 6:00 am GMT, the UK is set to release its monthly GDP data, with a forecast of 0.2%. The economy stagnated in July 2024, mirroring June’s flat growth and missing the expected 0.2% uptick.

The GBPUSD weekly chart reflects a strong bearish trend closing at 1.3117. Although it remains above the 50 MA, the breach of the previous support at 1.3137 suggests a possible downside reversal. Continued downward momentum could target levels near 1.2660 and 1.2290, with a dip below the 50 MA increasing the risk of further declines.

Canada Unemployment Rate – Canada’s October 2024 unemployment rate, set for release on Friday October 11, 2024 at 12:30 pm GMT, is forecasted at 6.6%. In August 2024, the rate spiked to 6.6%, up from 6.4%, breaching market estimates of 6.5% and hitting the highest since October 2021.

The USDCAD weekly chart shows upward momentum with a high of 1.3591. Despite the bearish pressure from the 50 MA, the rebound off the uptrend line at 1.3418 indicates potential for a rally. If this support holds, targets could be set at 1.3645 and 1.3945, with a breakout above the 50 MA confirming a bullish trend continuation.

LATEST RELEASE