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.
Important events this week will bring us
- American Non-Farm Payrolls (Fri, 14:30 MT (12:30 GMT)) – Most notable event in the monthly economic news. This report on the employment dynamics in USA will push the US dollar up if the actual indicator exceeds the expected 90K; otherwise, US dollar shall be dropping.
- American GDP Growth Rate (Wed, 14:00 MT (12:00 GMT)) – Forecasted as 1.7% against the Q2 figure of 2%, this GDP quarterly indicator pulls USD down if the actual figure proves to be less then expected.
- American Fed Interest Rate Decision (Wed, 20:00 MT (18:00 GMT)) – Analysts predict the rate cut to 1.75% that is supposed to pull the USD down.
- Brazilian Interest Rate Decision (Wed, 19:00 MT (21:00 GMT)) – According to forecasts, the rate will be kept unchanged. However, the mood of the central bank may affect the Brazilian real.
- European GDP Growth Rate (Thu, 12:00 MT (10:00 GMT)) – Quarterly GDP growth rate of the Eurozone is expected to be 0.1%, marking a slight drop from the previous figure and pulling euro down if it is confirmed.
- With EU confirming the extension of Brexit for another 3 months and UK parliament voting for an earlier election today, the British pound is entering another stage of uncertainty and volatility.
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 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.