FX Headlines: Coming Week Promises Event-Driven Volatility in GBP-crosses
- 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.”
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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.
UK ECONOMIC CALENDAR
There are no market-moving data due for the British Pound on Friday, October 4.
SWISS ECONOMIC CALENDAR
There are no data due for the Swiss Franc on Friday, October 4.
Want to automate your trading or trade baskets of currencies? Try Mirror Trader.
--- Written by Christopher Vecchio, Currency Analyst
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