The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
5 important events this week will bring us!
- RBNZ rate statement (Wed, 5:00 MT (2:00 GMT) – The market anticipates a rate cut by 25 basis points from 1.5%. If it happens and the statement is dovish, the NZD will fall.
- Speech by the RBA governor Philip Lowe (Fri, 2:30 MT (23:30 GMT)) – After the RBA kept its interest rate unchanged on Tuesday, it would be interesting to hear his comments on the further steps by the bank.
- British GDP growth (Fri, 11:30 MT (8:30 GMT)) – Analysts anticipate the level of GDP growth to advance by 0.1%. Higher figures will be positive for the British pound.
- British manufacturing production (Fri, 11:30 MT (8:30 GMT)) – According to the forecasts, the indicator will decline by 0.1%. If the actual level is higher, the GBP will go up.
- Canadian employment data (Fri, 15:30 MT (12:30 GMT)) – If the employment change is higher and the unemployment rate is lower than the forecasts, the CAD will rise.
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).