USD rose on market uncertainty
The US dollar turned to the upside on Monday. Let's discuss what to expect next from the market.
IMPORTANT EVENTS TO TRADE THIS WEEK
ECB Meeting (Thu, 14:45 MT (11:45 GMT) time) – analysts don’t predict rate changes. However, traders will look at the tone of the central bank. If the bank sounds hawkish, that is unlikely, the European currency will move up. In the case of the dovish mode covering global uncertainties, the euro will move down.
American CPI level (Thu, 15:30 MT (12:30 GMT) time) - forecasts are weak but the actual readings will be more important. If the releases overcome the forecasts, the American currency will appreciate.
American retail sales figures (Fri, 15:30 MT (12:30 GMT) time) - again forecasts are not encouraging, the American currency has risks to decline.
Political issues: Brexit
The sudden resignation of Work and Pensions Secretary Amber Rudd heated up the situation. It’s worth reminding that recently PM’s brother, Jo Johnson, quit the government.
Nevertheless, Boris Johnson is sticking to his decision to bring the UK to the Brexit by the end of October despite a series of fails in the Parliament. There are odds that the Prime Minister will get round the Parliament law requiring a Brexit delay in the case of no deal.
On Monday, the Parliament will vote on the general elections taking its last chance to do something before the shutdown.
Traders should follow the news carefully to not miss an opportunity to trade on the high volatility.
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Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.
The ECB is going to move the euro
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.
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