The GBP is going to be volatile today, while USD/TRY may be looking for a retest of its highs. Read more!
5 important things this week will bring us!
5 important things you need to know about this week!
US PPI (Wed, 15:30 MT time) – the USD needs strong support to exit the 95-95.50 channel. The forecast is encouraging; however, the actual data should beat the forecast to pull the USD up.
BOE Official Bank Rate (Thu, 14:00 MT time) – the market doesn’t expect any changes in the interest rate. However, clues on the future monetary policy will determine the further direction of the pound.
ECB Meeting (Thu, 14:45 MT time) – the market looks for the clues on the further tapering of the quantitative easing. If the bank is hawkish, the euro will rise.
US CPI (Thu, 15:30 MT time) – inflation data is the major driver of the currency. If the actual data is greater than the forecast, the USD will appreciate.
US Retails Sales (Fri, 15:30 MT time) – retail sales is one of the most important economic data. As a result, it affects the currency a lot. A rise of the figure will support the USD.
The NAFTA deal is still in the arena. Countries haven’t come to the agreement yet. As a result, the Canadian dollar is weak and is waiting for the support to appreciate against the USD.
OPEC/non-OPEC coalition meeting. Oil allies will meet on September 11 to discuss a new production strategy. Countries agreed to increase the oil production but haven’t come to an agreement on steps. The event will affect the oil market.
Let’s see whether there is more news this week.
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.