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  • $ARKK down to a fresh three month low but finding some support on this confluent fibo level. If the rates theme continues could add more pressure here https://t.co/vfi4AHZKHd
  • tech side of the $USD forecast already starting to fill in with today's bullish breakout 😎 https://t.co/vHVn9WtWKX
  • I just finished my USD 4Q fundamental forecast with @JStanleyFX (who did the techs) at the end of last week. Today certainly jazzes up my assessment
  • The S&P 500 has opened with a sharp gap lower while the Dollar pushes an 11 month high. DailyFX's @JohnKicklighter talks about volatility, debt limits, and Fed forecasts! https://t.co/xNr8VZi1SC
  • $SPX trying to hold support after failing at resistance yday $SPY $ES currently about 4% off of the all time high https://t.co/uo5ohs01UU
  • Nasdaq tumbles 2% $NDX
  • The ICE's trade-weighted $DXY Dollar Index is at an 11 month high today. Notably, its largest component - $EURUSD - has not slipped the August low https://t.co/RbkyJVC2Oq
  • Stocks extend fall, Dow Jones down 1% following worse-than-expected US Consumer Confidence #trading $DJIA
  • Big enough disappointment to heap onto the risk aversion but not bad enough to restart speculation of a delayed November taper from the FOMC. Net net, further bearish pressure on $SPX https://t.co/oprOLVTdQX
  • The $SPX has opened today with its biggest bearish gap since last Monday's tumble. Officially squashes the recovery momentum and now we are more balanced in facing fundamental event risk - bullish or bearish https://t.co/hW5U62hWez
BoE, RBA, RBNZ, BoJ Event Risk in the Weeks Ahead

BoE, RBA, RBNZ, BoJ Event Risk in the Weeks Ahead

Yash Gandhi,

Talking Points

  • BoE publishes Minutes from the Monetary Policy Committee Meeting Wednesday
  • RBNZ rate cut expected, decision from Governor Wheeler due Wednesday
  • See the DailyFX Calendar for more economic risk in the weeks ahead

Bank of England

The Bank of England will release minutes from its’ July meeting on Wednesday. The current rate set by the Bank of England is 0.50%. BoE Governor Mark Carney hinted at an August rate hike but softened his stance with his comments today. Carney said, “Higher interest rates likely to be needed in next years”. Carney added the BoE needs to act in timely fashion to reduce risks.

Upcoming Event Risk

BoE, RBA, RBNZ, BoJ Event Risk in the Weeks AheadBoE, RBA, RBNZ, BoJ Event Risk in the Weeks Ahead

Reserve Bank of New Zealand

RBNZ will weigh on its next monetary policy decision Wednesday at 21:00 GMT. Governor Graeme Wheeler is expected to cut rates for the second consecutive time by 25-basis-points. New Zealand reported a +0.3% read for the Consumer Prices Index for the 2nd quarter.

Upcoming Event Risk

BoE, RBA, RBNZ, BoJ Event Risk in the Weeks AheadBoE, RBA, RBNZ, BoJ Event Risk in the Weeks Ahead

Reserve Bank of Australia

Australia will report Consumer Prices Index for 2Q this week. Expectations for y/y CPI is +1.7%. Minutes released last night did cause some AUD weakness. RBA members noted the commodity rout as the main cause behind a lacking Australian Dollar. RBA members were unclear on whether the bank will ease rates.

Upcoming Event Risk

BoE, RBA, RBNZ, BoJ Event Risk in the Weeks AheadBoE, RBA, RBNZ, BoJ Event Risk in the Weeks Ahead

Bank of Japan

The BoJ released minutes from its June 18-19 meeting showing members agreeing with the inflation trend depicting improvement. Members were concerned about the effects of quantitate easing wearing off while other argued the effects were substantial given the low central rate in Japan compared to rising rates overseas. Japan will release CPI data next week, a true tell for inflation in the country.

Upcoming Event Risk

BoE, RBA, RBNZ, BoJ Event Risk in the Weeks AheadBoE, RBA, RBNZ, BoJ Event Risk in the Weeks Ahead

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

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