This Week In Markets: Chinese GDP data is expected to slow further in Q4 [Video]

Anthony Cheung Amplify

Head of Market Analysis Anthony Cheung runs through the main events happening in markets this week.

- Intro and overview of the week (00:00)

- Libya says oil output is back to 1.2m/bpd (00:49)

- Walmart filing reveal plan to create a cryptocurrency and NFTs (1:37)

- Chinese GDP data is expected to slow further in Q4 (3:03)

- UK jobs, CPI, and Retail Sales out this week (4:09)

- Boris Johnson draws up a survival plan (6:18) - Bank of Japan meet this week amid growing price pressures (7:24)

- ECB minutes due on Thursday (8:26)

- US Markets close Monday and light calendar this week for US data (9:38)

- 38 S&P 500 companies reporting this week (10:03)

Author

Anthony Cheung

Amplify

Anthony has spent over a decade working at the forefront of financial news.

EUR/USD challenges 1.1800, two-week lows

EUR/USD remains on the defensive, extending its leg lower to the vicinity of the 1.1800 region, or two-week lows, on Tuesday. The move lower comes as the US Dollar gathers further traction ahead of key US data releases, inclusing the FOMC Minutes, on Wednesday.

GBP/USD looks weaker near 1.3500

GBP/USD adds to Monday’s pessimism and puts the 1.3500 support to the test on Tuesday. Cable’s marked pullback comes in response to extra gains in the Greenback while disappointing UK jobs data also collaborate with the offered bias around the British Pound.

Gold loses further momentum, approaches $4,800

Gold recedes to fresh two-week troughs around the $4,800 region per troy ounce on Tuesday. The precious metal builds on Monday’s downtick following a marked rebound in the US Dollar and mixed US Treasury yields across the board.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.