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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.

Look Ahead 19/10/23: Japan trade; Deliveroo; American Airlines, Philip Morris International

Japan is expected to unveil data that showed its trade deficit narrowed in September. Deliveroo, Dunelm and Rentokil publish their latest trading update. American Airlines earnings in focus amid rising Middle East tensions.

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(Video Transcript)

Japanese exports forecast to rise

Hello, I'm Angeline Ong and welcome to your Look Ahead to Thursday 19 October 2023. First up, we start in Japan, where we have trade balance numbers and the deficit is expected to narrow in September. Exports are forecast to rise 3.1% year-year.

Just taking a look at the US dollar versus the yen now, we have seen this cross trades higher and higher, of course, waiting at any signs of intervention. Also, this cross may also be getting a lift, especially for the yen rather, giving Japan welcome more than two million international visitors for a fourth consecutive month in September.

This is according to official data on Wednesday, marking a near full recovery to pre-pandemic levels, even though the Chinese market has been slow to rebound.

Turning to the US, we have initial jobless claims and the Philadelphia Federal Reserve (Fed) manufacturing index and existing home sales as well. On the corporate front, look out for Deliveroo's third-quarter trading update, Dunelm's trading statements, and also Rentokil hands in its operations update.

Lockdown-darling Deliveroo realigning

Deliveroo, just want to take a look at that one because it was a pandemic lockdown darling and it has since had to cut jobs and realign its business in order to adapt. Deliveroo shares did move higher back in September when it announced a proposed tender offer to return up to £250 million to shareholders.

Over in Europe, we're looking out for Nestle's third-quarter sales, Roche also out with sales numbers and Pernod Ricard. And from the US, it's the airlines that we are watching out for, especially after UNITED's earnings. We've got American Airlines, AT&T and Philip Morris International all out with quarterly figures.

Fuel price fires up concern for airlines

Just want to point out that American Airlines will be closely watched after United said that the rise in fuel prices in July is putting pressure on profits at US carriers. United also has the biggest exposure to Israel amongst the US carriers, just showing you its chart here, because it's an all-session stock on the IG platform.

As you can see there, it has been moving lower on an hourly basis, United saying it has suspended flights to Tel Aviv until conditions allow them to resume. But, as I said, it's American Airlines' turn in the coming session, so we'll be looking out for that for you.

That's it for now. For more market-moving news, I'll be back on Beat the Street at 1.30pm London time to give you a heads-up to the US trading day.

And my colleague Jeremy Naylor will be doing the same at 7.30am on Early Morning Call ahead of the European market open. Follow me on Twitter @AngelineOng. This is IGTV. Thanks for watching.

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.

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

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