1. Sterling Headed For One Week High On Latest Brexit News
Sterling has started the week on a bullish note after the UK Prime Minister Theresa May said 95% of Brexit deal has been agreed upon. It is important to note that the previous reports of the Brexit deal failure at the European Council meeting and disappointing macroeconomic data saw Sterling fall as low as $1.3011 last week just to recover on Brexit positive rumors after the weekend. The GBPUSD was last seen trading at $1.3083 as of 7:00 GMT this morning.*
2. Oil Prices Rally On Iran Sanctions
U.S. sanctions on Iran’s oil sector are set to go into effect in just a few days (Nov. 4) and have already had an effect on oil prices with Crude WTI (USOIL) trading 0.77% higher and Brent oil (CL_BRENT) adding 0.7% as of 7:15 GMT. It should be noted that the United States under President Donald Trump is trying to reduce Iranian oil export to zero to force the country to renegotiate an agreement on its nuclear program. OPEC also agreed in June to boost supply to make up for the expected disruption to Iranian exports. It should be noted that U.S. drillers have already added four oil rigs in the week to Oct. 19, bringing the total count to 873.**
3. Paypal Surges Almost 10%
Paypal’s robust earnings reports pushed the company’s stocks higher to finish the week 9.4% up. The report revealed that 24% of Venmo users have engaged in a monetized transaction since launch, up from 17% in the June quarter. Venmo is a mobile payment service owned by PayPal. It allows users to transfer money to others using the service using a mobile phone app; both the sender and receiver have to live in the U.S. ***
You can find and trade all of the above mentioned equities and commodities on BDSwiss Forex/CFD platforms.
*Source: FXStreet Oct 22, 2018 2:48 AM ET
**Source: Reuters Oct 22, 2018 15:53 ET
***Source: Market Watch Oct 22, 2018 03:07 AM ET
Upcoming Earnings Reports This Week:
22/10/2018 – Koninklijke Philips NV (#PHG) to report pre-market
23/10/2018 – Caterpillar Inc.(#CAT) to report pre-market
23/10/2018 – Harley-Davidson, Inc. (#HOG) to report pre-market
23/10/2018 – McDonald’s Corporation (#MCD) to report pre-market
23/10/2018 – 3M Company (#MMM) to report pre-market
23/10/2018 – United Technologies Corporation (#UTX) to report pre-market
23/10/2018 – Verizon Communications (#VZ) to report pre-market
23/10/2018 – MKS Instruments, Inc. (#MKSI) to report post-market
23/10/2018 – The Boeing Company (#BA) to report post-market
24/10/2018 – Lithia Motors, Inc.(#LAD) to report pre-market
24/10/2018 – Microsoft Corporation (#MSFT) to report pre-market
24/10/2018 – Visa Inc.(#V) to report post-market
24/10/2018 – Washington Prime Group, Inc..(#WPG) to report post-market
25/10/2018 – American Airlines Group.(#AAL) to report pre-market
25/10/2018 – CME Group Inc.(#CME) to report pre-market
25/10/2018 – Merck & Co Inc.(#MRK) to report pre-market
25/10/2018 – Twitter, Inc.(#TWTR) to report pre-market
25/10/2018 – UBS Group AG (#UBS) to report pre-market
25/10/2018 – Amazon.com, Inc.(#AMZN) to report post-market
25/10/2018 – Expedia, Inc.(#EXPE) to report post-market
25/10/2018 – Intel Corporation(#INTC) to report post-market
