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FX Headlines: Coming Week Promises Event-Driven Volatility in GBP-crosses

FX Headlines: Coming Week Promises Event-Driven Volatility in GBP-crosses

2013-10-04 09:15:00
Christopher Vecchio, CFA, Sr. Currency Strategist
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Talking Points

- Empty calendar on Friday for Europe.

- Several notable events for the British Pound, the Euro, and the Swiss Franc next week (full calendars below).

- Bank of England policy meeting headlines calendar – will cement BoE’s shift into “neutral.”

To keep up with the European data and news as the week goes forward, be sure to sign up for my distribution list.

There’s no data on the European calendar today but that doesn’t mean European FX markets won’t be active. The Euro finds itself in new territory with a more supportive yet distant ECB, with the region attempting to ‘walk’ on its own without further stimulus than what is being presently provided.

For the British Pound, data has cooled slightly from recent elevated levels but data overall has been brilliant: the UK services sector just posted its strongest quarter in 16 years in the 3Q’13. Needless to say, signs that the economy is stabilizing at a higher level will only improve the Sterling’s fundamental positioning.

With several key events on the UK economic calendar in the coming week, GBP-crosses are likely to see enhanced volatility. Instead of trading just the GBPUSD – which should remain under the strong influence of US fiscal headlines thanks to its US Dollar component – traders might find it advantageous to trade a GBP basket using Mirror Trader.

EURO-ZONE ECONOMIC CALENDAR

There are no market-moving data due for the Euro on Friday, October 4.

See the Euro economic calendar for the week of October 6 to 11.

FX_Headlines_Coming_Week_Promises_Event-Driven_Volatility_in_GBP-crosses_body_Picture_1.png, FX Headlines: Coming Week Promises Event-Driven Volatility in GBP-crosses

Read more: In the ECB’s Wake, Euro Looks Free of its Crisis-Mode Market Dynamic

UK ECONOMIC CALENDAR

There are no market-moving data due for the British Pound on Friday, October 4.

See the BritishPound economic calendar for the week of October 6 to 11.

FX_Headlines_Coming_Week_Promises_Event-Driven_Volatility_in_GBP-crosses_body_x0000_i1028.png, FX Headlines: Coming Week Promises Event-Driven Volatility in GBP-crosses

Read more: Pound Eyes 1.6200 on More Hawkish BoE, Stronger U.K. Recovery

SWISS ECONOMIC CALENDAR

There are no data due for the Swiss Franc on Friday, October 4.

See the Swiss Franc economic calendar for the week of October 6 to 11.

FX_Headlines_Coming_Week_Promises_Event-Driven_Volatility_in_GBP-crosses_body_x0000_i1029.png, FX Headlines: Coming Week Promises Event-Driven Volatility in GBP-crosses

Read more: US Dollar Set for Breakout, Risk and Budget Standoff Decide Magnitude

Want to automate your trading or trade baskets of currencies? Try Mirror Trader.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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