The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 17:00 MT time.
Get ready for more insights by the Fed
The Federal Open Market Committee (the department of the Federal Reserve) will publish the meeting minutes on October 7 at 21:00 MT time.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
The FOMC meeting minutes is a detailed record of the previous meeting that happened on September 16. During the previous meeting, the Fed kept the interest rate at the lowest level and switched the forecasts for GDP and the unemployment rate to reflect the current downward trends. At the same time, the new policy of average inflation guidance was presented. Since then, the US dollar has got stronger, although it is still far from a recovery. If you want to see more detailed long-term forecasts from the Federal Reserve and trade the US dollar, wait for the release of the meeting minutes.
- If the Fed is not pessimistic, the USD will strengthen;
- If the Fed is pessimistic, the USD will weaken.
The US dollar turned to the upside on Monday. Let's discuss what to expect next from the market.
Three main drivers of the market: the stimulus package, the US presidential election and the coronavirus. Let's look how market reacts.
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.
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.