Weekly Trading Forecast: Central Bank News Promises Fireworks
Central banks will command financial markets' attention in the week ahead, with speeches from top officials including Fed Chair Yellen and a wealth of policy-defining data due.
The coming week will see several key economic data series released, including the initial Q3’17 US GDP report. However, attention may be focused off the calendar, as market participant await US President Trump’s next pick for Chair of the Federal Reserve.
The British Pound continues to be held ransom by the ongoing Brexit talks although next month’s central bank policy decision may underpin GBP
Euro trading will be dominated in the coming week by Thursday’s meeting of the European Central Bank, which will signal a tightening of Euro-Zone monetary policy from January.
The Australian Dollar might find itself a bit short of domestic drivers in the coming week. Official inflation data are likely to be the crucial release.
Key data prints coming out of the U.S. economy may temper the sell-off in NZD/USD should the figures undermine the Fed’s scope to implement higher borrowing-costs.
The Bullish CAD theme that dominated markets during the summer continues to face questions. As CAD data weakens, as NAFTA discussions continue, little by way of optimism is showing around the Canadian Dollar.
Chinese Yuan Forecast: Yuan Clarified by PBOC Governor, Waits for New Party Leaders
The PBOC Governor revealed the most recent updates on what you should know about trading the Yuan at the 19th Party Congress. Over the following days, more officials will talk about the economy and new leaders will be announced at the key meeting.
Equities Forecast: DAX Outlook as ECB Looms, S&P 500 Levitating While FTSE Seeks Resolution
The most influential event of this coming week is likely to be the ECB meeting on Thursday; technical posturing varies among major indices but the benefit of the doubt still lies with the bulls.
Gold is virtually unchanged for October with prices closing the week at the monthly open / technical support. Here are the updated targets & invalidation levels that matter.
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