Welcome to the weekly UpCrypto Trading Newsletter.
What does week 47 bring?
Monday, November 18:
Homebuilder Confidence Index (November) 🏡 - The index is expected to come in at a consensus of 44, reflecting the continued caution among builders amid high mortgage rates.
Remarks by Chicago Fed President Austan Goolsbee 🗣️ - Goolsbee will discuss the current economic situation, especially in light of recent inflation data. This speech is significant, particularly after comments from Powell and Collins last week hinted that a rate cut in December might not be guaranteed.
The following statements caused market uncertainty last week:
Powell: "The economy is not sending signals that we need to cut rates quickly."
Collins: "A December rate cut is not yet a sure thing."As always, the key highlights will be shared live on Discord.
Tuesday, November 19:
Housing Starts and Building Permits (October) 🏠 - Housing starts are projected at 1.34 million, and building permits at 1.44 million. Construction remains challenged by high financing costs, but steady demand suggests a positive outlook for the upcoming year.
Earnings Reports 📝 - Walmart, Lowe’s, and XPeng will report their quarterly earnings. The market will closely watch Walmart, particularly after it raised its annual forecast.
Wednesday, November 20:
Nvidia and Other Earnings Reports 🔌 - Nvidia will be in the market spotlight, having recently become the world’s most valuable company thanks to high demand for its AI-capable products. Strong results are expected, potentially affecting the crypto market.
Thursday, November 21:
Initial Jobless Claims 📉 - Jobless claims are anticipated at 222,000, a key indicator of labor market health.
Philly Fed Manufacturing Survey & Existing Home Sales 🏭🏡 - The Philly Fed Index is expected to come in at 11, while existing home sales are estimated at 3.87 million units. These figures provide further insight into trends in the housing and manufacturing sectors.
Earnings Reports 📝 - Intuit, John Deere, and Baidu are set to report earnings, offering important insights into sectors including software, agriculture, and technology.
Friday, November 22:
S&P Global Flash U.S. PMI (November) 📊 - Expected values are 49.2 for manufacturing and 55.1 for services, indicating performance across these economic sectors.
Consumer Sentiment Index (final, November) 🌡️ - A value of 73 is expected, providing an early view of public sentiment following Donald Trump's presidential election.
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Here's to a successful week, and stay tuned for more weekly outlooks on the crypto and financial markets.
Best regards,
your UpCrypto Team!
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