In October, euro zone inflation demonstrated its fastest tempo for almost six years, powered by energy prices…
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.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…