2 Big Events “Interest Rate Decision by ECB & BoC and Japan Inflation Numbers” coming up this week

October 23, 2017

Emphasis On EU Monetary Policy & Draghi.

2 Big Events “Interest Rate Decision by ECB & BoC and Japan Inflation Numbers” coming up this week

This article is originally referred from FXPrimus News

Check out the Important Market Indicators of the week, summarized by FXPrimus!

This week’s indicators

This week started with a market gap as elections in Japan found Shinzo Abe winning a super majority with 312 seats in the lower house parliament.

Yen declined across the board on concerns over fiscal stimulus and monetary policy easing.

Other than that, a quiet session is expected today with some minor reports from Eurozone and Canada.

For the rest of the week, ECB as well as BoC are scheduled to announce their latest interest rate decision on Thursday and Wednesday respectively.

On Wednesday, the Office for Nationals Statistics is also going to report Q3 GDP figures while the same report is due on Friday for the US.

On Thursday Japan is going to publish its inflation numbers for the month of October.

USDJPY 1-HOUR CHART

MONDAY

A ‘soft’ session on the economic calendar today, volatility produced as a result of the Japanese election.

This week kicked off with Yen declining across the board as Abe’s win on Sunday night hinted that a period of monetary easing could be in play.

Markets moved in anticipation of the results producing some volatility early in the opening, however, the economic calendar is relatively ‘soft’ with only notable event being Canada’s release of Wholesale Sales figures at 12:30.

TUESDAY

A ‘heavy’ session for the Eurozone as PMI reports are scheduled for release.

On Tuesday Eurozone is due to release a number of its Manufacturing and Services PMI reports from 07:00 to 08:00.

The German Services and Manufacturing reports at 07:30 are normally more relevant to Euro fluctuations, however, the impact may be limited in anticipation of Draghi’s speech on Thursday.

WEDNESDAY

A highly volatile session with UK GDP and BoC interest rate decision in focus.

The session is expected to be volatile around the release of Australia’s CPI data at 00:30.

At 08:00 the German Info survey is due and is likely to produce some fluctuations on Euro related pairs. Minutes later, at 08:30, UK is to release its Q3 economic growth figures, while at 12:30, US is going to publish its Core Durable Goods orders data.

Volatility is expected to be high also around the announcement of BoC’s interest rate at 14:00, and during the press conference at 15:15. At 14:00, US Home Sales are also expected.

EIA is to produce its latest inventory report and hence volatility on the commodity could be assumed around 14:30 too.

THURSDAY

Wild fluctuations expected in anticipation of a possible Draghi announcement around asset purchases.

Despite at 07:00 and 08:00 the Eurozone is due to release the Spanish Unemployment Rate and Money Supply respectively, investors may stay quite as ECB’s Draghi is expected to make a statement at 12:30, 45 minutes after the interest rate decision is announced.

Market experts recon ECB President is going to announce when trimming of ECB’s monthly asset purchases program will start.

At 12:30, US is scheduled to release its weekly Unemployment Claims reports too.

FRIDAY

Investors may look at the US 3rd Quarter GDP figures for possible trading opportunities.

Friday’s session is expected to be volatile for the US Dollar around the release of the 3rd quarter GDP figures.

The session is expected to be volatile also at 14:00, as the Revised UoM Inflation Expectations are due, however, the effect of this release could be limited compared to the GDP.

Original Source: FXPrimus News

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