The GBP is going to be volatile today, while USD/TRY may be looking for a retest of its highs. Read more!
5 important events this week will bring us!
- Speech by the ECB President Mario Draghi (Mon, 16:00 MT (13:00 GMT) time) – If the ECB president is hawkish, the EUR will be supported;
- CB consumer confidence for the US (Tue, 17:00 MT (14:00 GMT) time) – Higher-than-expected figures will push the USD up;
- RBNZ rate statement (Wed, 5:00 MT (2:00 GMT) time) – Analysts anticipate the Reserve bank of New Zealand to keep its interest rate unchanged at 1%. Traders will pay attention to the outline of the statement. If the RBNZ is hawkish, the NZD will rise.
- US final GDP (Thu, 15:30 MT (12:30 GMT) time) – If the actual figures are higher than the forecasts, the USD will go up.
- US core durable goods orders and personal spending (Fri, 15:30 MT (12:30 GMT) time) – Higher-than-expected figures will boost the USD
- After the trade talks between the US and China last week, we heard some positive comments on that matter from both sides.
- Oil prices jumped on the news that the reparation of the Saudi plant would likely take months.
- The EU’s Donald Tusk will meet the UK Prime Minister Boris Johnson this week. However, judging by the tone of the Prime Minister, he does not expect any breakthrough this week. Also this week the Supreme Court will rule on Boris Johnson’s suspension of Parliament. The uncertainties affect the GBP.
Australia will publish the level of employment change and the unemployment rate at 3:30 MT on October 17.
The escalation of the US-China trade dispute and the Brexit uncertainties keep affecting the market. Read more!
The reports that the UK and the EU are close to complete a draft Brexit deal have pushed the British pound higher.