The European Central Bank publishes the monetary policy statement alongside with an update on the interest rate on October 29, at 14:45 MT time.
5 important events this week will bring us!
- Monetary policy meeting minutes by the RBA (Tue, 02:30 MT time (00:30 GMT)) – If the RBA is positive concerning the current economic outlook, the AUD will rise.
- Canadian CPI growth (Wed, 15:30 MT time (13:30 GMT)) – According to the forecasts, the inflation rate will advance by 1.9%. Higher-than-expected figures will boost the Canadian dollar.
- FOMC meeting minutes (Wed, 21:00 MT time (19:00 GMT)) – If the release contains more hints concerning the future easing, the USD will fall.
- ECB monetary policy meeting accounts (Thu, 14:30 MT time (12:30 GMT)) – If the European central bank is hawkish in its report, the EUR will be supported.
- Canadian core retail sales (Fri, 15:30 MT time (13:30 GMT)) – Analysts expect the indicator to remain at the same level. If the actual level is higher, the Canadian dollar will go up.
- The British pound has risen on the news that the Brexit party has stood down from the 43 additional seats in the Parliament. Previously, it rejected to contest the seats which belong to the Conservative party.
- According to the comments by the ECB vice president Luis de Guindos, the recession in the Eurozone seems to be an unlikely event.
- The American and Chinese trade negotiators held constructive discussions on Saturday to reach the phase one trade deal. It resulted in the risk-on sentiment in the markets.
The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 17:00 MT time.
The US dollar turned to the upside on Monday. Let's discuss what to expect next from the market.
The market sentiment deteriorated because of the election uncertainty and worries about rising virus cases all over the world. Let's make some analysis!
The focus of traders’ attention shifted from Brexit and the US stimulus to the coronavirus . The WHO claimed that Europe become the new Covid-19 epicenter.
Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.