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Weekly Wrap analysis: Forex, Stock Indexes, Oil, Crypto and News Outlook

Published: 21.10.2022
by Joseph Jeffriess

Welcome to this week’s wrap-up traders.

Instead of focusing on one market, we have done a walk-around in today’s video, taking a look at some of the key data, comments and news that hit the market. We have also done an analysis walk around, looking at FOREX stock indexes, oil and cryptocurrencies, incorporating our crypto focus into this report.

Our thoughts remain on the latest hawkish comments from FED members that look to have taken the wind out of risk traders’ sails, with risk majors and stock indexes moving lower since Wednesday. Chinese GDP was a surprise and not from a release point was more from a disappearing point as it never came out. Will we see this data next week?

Currently, our bias is leaning just to bear side of risk currencies to the USD, and we have broken down what we are looking for on the AUD, EU and GBP for possible continuations lower. The USDJPY remained a talking point this week as it hit 150. Will the Bank of Japan step in? The UK political situation remains messy after Liz Truss resigned, becoming the shortest person to hold the position in the UK. Despite the instability, the GBP wasn’t too affected by the news; its rally was cut down, but hawkish comments from FED members set the tone for Thursday’s NY session.

We don’t have any high-impact news to end the week, so we are waiting to see if the latest FED comments will maintain the current USD momentum and continue to feed the current pullback on indexes.

Weekly wrap analysis video


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