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This article is originally referred from JustForex News.
Today, JustForex’s team of financial analysts has prepared a new review of events in the upcoming week.
These events can significantly affect the Forex market.
Choose and track the ones that are most important to you.
Last week, the US dollar strengthened against the majors. The dollar index (#DX) closed the trading week in the positive zone (+0.68%). The US currency was supported by optimistic economic reports and growth in the US government bonds yield. At the moment, the probability of tightening the Fed’s monetary policy in December 2017 remains at a rather high level of 91.7%.
In the upcoming trading week, we recommend you to pay attention to the following macroeconomic events and reports.
October 23rd, Monday
On Monday, the news background will be fairly calm:
- The index of industrial orders in the UK at 13:00 (GMT+3:00);
- The volume of wholesale sales in Canada at 15:30 (GMT+3:00).
Financial markets of New Zealand will be closed due to the holiday.
October 24th, Tuesday
On Tuesday, a number of business activity indices in Germany and the Eurozone will be published at 10:30 (GMT+3:00) and 11:00 (GMT+3:00), respectively.
At 16:45 (GMT+3:00) we expect statistics on business activity in the manufacturing and service sectors of the United States.
October 25th, Wednesday
On Wednesday, the news background will be very eventful. At 17:00 (GMT+3:00) the Bank of Canada will hold proceedings.
At the moment, most experts believe that the regulator will leave the interest rate at the previous level of 1.00%.
We also advise paying attention to the following economic reports:
- The consumer price index in Australia at 03:30 (GMT+3:00);
- The IFO business climate index in Germany at 11:00 (GMT+3:00);
- The preliminary data on the UK GDP at 11:30 (GMT+3:00);
- The statistics on orders for durable goods in the US at 15:30 (GMT+3:00);
- Sales of new housing in the US at 17:00 (GMT+3:00).
October 26th, Thursday
On Thursday, the attention will be focused on the ECB meeting, at which the regulator should disclose details of the asset purchases reduction program at 14:45 (GMT+3:00).
Most experts believe that the Central Bank will reduce the asset purchases by 20-40 billion euros per month until June 2018.
Investors will also monitor the following economic reports:
- New Zealand trade balance at 00:45 (GMT+3:00);
- The number of initial applications for unemployment benefits in the US at 15:30 (GMT+3:00);
- The index of pending sales in the US real estate market at 17:00 (GMT+3:00).
October 27th, Friday
On Friday, the attention of financial market participants will be focused on preliminary data on the US GDP (3 quarter) at 15:30 (GMT+3:00).
Experts expect that the growth of the country’s economy will slow from 3.1% to 2.6%.
Original Source: JustForex News