Flight into safe haven assets underway - OptionsDesk
London, UK
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October 17, 2023 02:46 AM Eastern Daylight Time
OptionsDesk broker Richard Perry speaks to Thomas Warner from Proactive London about the impact of recent global geopolitical volatility on financial markets. Perry notes that the markets experienced a spike in volatility last Friday before pulling back in anticipation of what comes next.
He explains that one noteworthy trend during this period of uncertainty has been the rush towards safe-haven assets. Gold, for instance, rallied significantly, reaching three-week highs, with prices testing downtrend resistance.
Perry suggested that the ongoing geopolitical uncertainty could lead to further upside moves in gold and other safe-haven assets. Looking ahead, Perry outlinea key events for the week. These include economic data releases and earnings reports from major U.S. companies like Bank of America, Goldman Sachs, Johnson & Johnson, Lockheed Martin, Tesla, Procter & Gamble, and Netflix.
Additionally, Chinese economic data and UK inflation figures are expected to shed more light on the global economic landscape. On Thursday, existing home sales data will be closely watched as rising interest rates may impact the housing market. The week will wrap up with UK retail sales and Japanese CPI data.
Contact Details
Proactive UK Ltd
+44 20 7989 0813
