Skip to content

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

The Fed keeps rates unchanged; the BOE next

The Federal Reserve held interest rates steady at a 22-year high for a second straight meeting last night.

Video poster image

The Federal Reserve

The Federal Reserve held interest rates steady at a 22-year high for a second straight meeting last night. This means that the Fed Funds Rate remains in a range of 5.25%–5.50% as the central bank waits to see how its aggressive credit tightening campaign filters through the US economy. However, it left the door open to a further increase in borrowing costs.

The policy statement acknowledged the U.S. economy's surprising strength but also took into account the tighter financial conditions faced by businesses and households. Powell told reporters "Inflation has been coming down, but it's still running well above our 2% target... A few months of good data are only the beginning of what it will take to build confidence."

The Bank of England

The GBP is in focus this Thursday as traders await the Bank of England interest rate decision at lunchtime. Bank of England (BOE) board members are widely expected to keep the policy rate unchanged at 5.25%. The market will, however, be attentive to the Monetary Policy Committee comments that will accompany the decision. Also expected is the BOE quarterly monetary policy report with forecasts for inflation and economic growth. Inflation is holding firm in the UK: 6.7% for the latest reading, roughly double that of the US (3.7%) and the eurozone (3.1%).

Australia's trade surplus

Australia's trade surplus declined to a 30-month low of A$6.8 billion in September, as shipments dropped by 1.4% from the previous month to A$45.6 billion. Meanwhile, imports jumped 7.5% to a record high of A$38.8 billion.

Shell

On the corporate front, Shell reports third-quarter earnings of $6.2 billion, in line with expectations. The company announced share buybacks of $3.5 billion over the next three months, up from $2.7 billion in the previous three months. BT Group maintains its annual outlook and posts a 3% rise in adjusted core profit to £2.06 billion. Sainsbury's forecast full-year profit is in the upper half of previous guidance as it reports flat profit for the first half.

Airbnb

Over in the US, Airbnb traded lower after the release of its Q3 earnings on Wednesday evening. Excluding a one-time income tax benefit, Airbnb posted adjusted earnings per share of $2.43, compared with the average analyst estimate of $2.10 per share. Airbnb's third-quarter revenue rose 18% to $3.4 billion from a year earlier, broadly in line with analysts estimates of $3.37 billion. But investors reacted to the group's forecasts for the current quarter. It sees Q4 revenue slightly below Wall Street estimates. Analysts predicted $2.18 billion to $2.13 billion.

PayPal

PayPal Holdings raised its finacial year (FY) profit forecast above Wall Street estimates, sending shares higher in after-hours trading. The group expects adjusted profit for the full year to be about $4.98 per share. Analysts, on average, had expected $4.92. This announcement came with the publication of Paypal's Q3 earnings: earning per share (EPS) came in at $1.30 per share, beating expectations of $1.23. PayPal's revenue jumped 9% to $7.4 billion.

Apple

Apple is set to release its report for the fourth quarter after the market closes tonight. Current market expectations are for Apple's Q4 revenue to decline marginally by 1% year-on-year to $89.31 billion versus $90.1 billion a year ago. On the other hand, EPS is expected to be at US$1.39, up 7.7% year-on-year and 10.3% from the previous quarter. Investors will be looking closely at the performance of products and services.

Apple's hardware product sales

Apple's hardware product sales may continue to struggle because of Apple's exposure to China, a market that accounts for one fifth of the group's revenue. A report from Counterpoint Research suggests that iPhone 15 sales for the first 17 days of sales in China have underperformed last year's iPhone 14, by an estimated The street therefore expects Apple's services segment to offset a possible fall in product sales. It sees service revenue continuing to accelerate to 11.4% year-on-year in Q3 2023, up from the previous quarter's 8.2%.

Earnings report

More companies are due to report earnings today. To name a few: Coinbase Global, Moderna, Eli Lilly, Starbucks, and ConocoPhillips

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market.

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Equities
  • Indices
  • Forex
  • Commodities


Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.