{"id":9463,"date":"2020-10-19T08:38:32","date_gmt":"2020-10-19T08:38:32","guid":{"rendered":"https:\/\/errante.net\/the-week-ahead-19th-23rd-october-2020\/"},"modified":"2020-10-19T08:38:32","modified_gmt":"2020-10-19T08:38:32","slug":"the-week-ahead-19th-23rd-october-2020","status":"publish","type":"post","link":"https:\/\/errante.net\/pt-pt\/the-week-ahead-19th-23rd-october-2020\/","title":{"rendered":"The Week Ahead 19th \u2013 23rd October 2020"},"content":{"rendered":"\n

Market Outlook for Today<\/strong>\u00a0<\/h2>\n\n\n\n

Asian markets advanced toward a recent 2-year peak on Monday powered by hopes of a U.S. fiscal package and expectations of a coronavirus vaccine by the end of this year, though gains were held back by weaker-than-expected Chinese economic data. <\/p>\n\n\n\n

In early European trades, the pan-region Euro Stoxx 50 futures added 0.25%, German DAX futures were slightly higher while London’s FTSE futures were down 0.07%. <\/p>\n\n\n\n

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.5% for its second straight day of gains, paring back slightly following third-quarter gross domestic product (GDP) data from China. <\/p>\n\n\n\n

The index has risen in eight of the last 10 sessions amid a rally in risk assets buoyed by hopes of a coronavirus vaccine and expectations of a so-called “blue wave<\/a>, which would see the Democrats claim victory in November’s elections. <\/p>\n\n\n\n

Chinese shares started higher but slipped into negative territory in afternoon trading after China’s third-quarter GDP data rose 4.9%, missing expectations for a 5.2% growth. <\/p>\n\n\n\n

In a positive sign, however, separate monthly indicators pointed to an expansion in economic activity. <\/p>\n\n\n\n

Industrial output accelerated 6.9% in September from a year earlier, when analysts were looking for a 5.8% gain from a 5.6% rise in August. <\/p>\n\n\n\n

Retail sales edged up 3.3% last month from a year earlier against expectations for 1.8% growth. <\/p>\n\n\n\n

“The rebound in Q3 GDP was less strong than expected but was still a decent 4.9% year on year. September data beat expectations, suggesting a pick-up in momentum towards the latter part of Q3,<\/a> said Frances Cheung, head of macro strategy for Asia at Westpac in Singapore. <\/p>\n\n\n\n

“The pick-up in momentum was broad based, which bodes well for the Q4 outlook.” <\/p>\n\n\n\n

Japan’s Nikkei rose 1.1% while Australia’s benchmark index added 0.9%. <\/p>\n\n\n\n

Boosting overall sentiment, drugmaker Pfizer Inc said on Friday it could have a coronavirus vaccine ready in the United States by the end of this year<\/a> <\/p>\n\n\n\n

Later this week, key risk events include minutes of Australia’s central bank meeting, the final U.S. presidential debate and global manufacturing indicators. <\/p>\n\n\n\n

Action in currencies was muted with the U.S. dollar, usually perceived as a safe-haven asset, flat at 93.696 against a basket of six major currencies. <\/p>\n\n\n\n

The euro was slightly weaker at $1.1708 and sterling hovered near two-week lows after UK Prime Minister Boris Johnson told businesses to get ready for a no-deal Brexit in case negotiations with the European Union fail to produce a free trade agreement. <\/p>\n\n\n\n

“EU-UK trade talks are flirting with collapse<\/a>” ANZ economists said. <\/p>\n\n\n\n

“UK Prime Minister Johnson said the UK needs to prepare for a no-deal outcome, as both sides cannot agree on a Canada-style FTA. Talks resume in London on Monday, but without the political willingness to shift ground, there is little the negotiators can achieve.<\/a>\u201d <\/p>\n\n\n\n

In commodities, Brent crude futures slipped 10 cents to $42.83 a barrel, and U.S. West Texas Intermediate (WTI) crude futures fell 12 cents to $40.76 a barrel. <\/p>\n\n\n\n

Spot gold rose 0.6% to $1,909.6 an ounce.\u00a0<\/p>\n\n\n\n

<\/p>\n\n\n\n

Overview for the Week Ahead<\/strong>\u00a0<\/h2>\n\n\n\n

In the US, earnings season is set to pick up this week, giving investors a better picture of the state of corporate profitability amid the ongoing coronavirus pandemic.\u00a0\u00a0This week, a plethora of companies across industries are set to report results, including more airline carriers like American Airlines (AAL<\/a>) and Southwest (LUV<\/a>), consumer giants including Procter & Gamble (PG<\/a>) and Coca-Cola (KO<\/a>), and health care companies Biogen (BIIB<\/a>) and Quest Diagnostics (DGX<\/a>).\u00a0 Reports from a couple of 2020\u2019s closely watched tech names are expected to be a particular focal point. Streaming giant Netflix (NFLX<\/a>) is set to report quarterly earnings results Tuesday after the bell, and Tesla (TSLA<\/a>) is poised to deliver results late Wednesday.\u00a0<\/p>\n\n\n\n

The UK’s corporate calendar has a trading statement from currency services provider Record and annual results from infection prevention products provider Tristel. Very early Tuesday morning, miner BHP Group reports an operations review at 00.30 GMT+3. <\/p>\n\n\n\n

These events\u202fhave the potential to influence the markets which means there is plenty of trading opportunities.\u00a0<\/p>\n\n\n\n

<\/p>\n\n\n\n

Today’s High Impact Events<\/strong><\/h2>\n\n\n\n

The times below are GMT+3.<\/p>\n\n\n\n

Monda<\/strong>y <\/strong>1<\/strong>9<\/strong>th<\/sup><\/strong> October<\/strong> <\/p>\n\n\n\n