Boeing’s third-quarter report brought disappointing news, with significant losses across its commercial aircraft and defense divisions. Combined, these units reported a $6.4 billion operating loss, pushing the company to announce workforce reductions and potential delays in production.
Rio Tinto recently announced its $6.7 billion acquisition of Arcadium Lithium Plc, positioning itself firmly in the lithium market—a vital mineral for electric vehicle (EV) batteries. This move is significant, considering China's dominance in lithium production and refining, which accounts for 65% of the global refined lithium output.
Activist investor Starboard Value has taken a $1 billion stake in Pfizer, seeking to turn around the company's fortunes. They've approached former Pfizer executives to aid their efforts, hinting at potential strategic changes.
Historically, the day before and after the CPI print has seen volatile movements in the pair, with the period around CPI typically exhibiting both upward and downward pressure on the EURUSD over the last 5 years.
Historically, EUR/USD has shown a +20.11% annualized return from October 7 to October 20 over the past 15 years, with an 86.67% win rate during this period. This suggests that despite near-term dollar strength, there may be opportunities for euro buyers.
The EUR/USD is in focus as the market awaits the upcoming Nonfarm Payroll (NFP) report and its potential impact on Fed policy. Seasonal data indicates that the EUR/USD has an average annualized return of +3.04% in the 10-day period surrounding U.S.
WTI Crude Oil entered the fourth quarter on a bearish note, sliding lower despite geopolitical tensions in the Middle East. This comes amidst broader market concerns, as OPEC+ is expected to increase output while China’s economic slowdown looms.
China’s recent economic stimulus measures have created optimism in the market, providing a potential tailwind for the iShares China Large-Cap ETF (FXI), which is now entering a historically strong period. The iShares China Large-Cap ETF (FXI) offers diversified exposure to the largest Chinese companies across sectors like financials, technology, and energy.
Following the recent dovish Federal Reserve meeting, where the Fed confirmed a 50bps rate cut and reduced the dot plot projections, the EUR/USD has maintained a strong buy bias. The Fed's outlook, which suggests continued dollar weakness, has been further reinforced.
China's housing market has been a significant drag on the economy for the past few years, with the country battling to revive a sluggish property sector. Recent reports suggest that China is weighing the removal of major home buying restrictions.
