Dollar, Euro Weak On TAX Package & Failed German Coalition.
This article is originally referred from FXPrimus News.
FXPrimus has summarized the important market indicators of the day.
This week’s indicators
While a version of the US Tax Plan received approval, on the economic front, US inflation indicators printed firm figures for the month of October.
Despite the robust economic data and the increasing confidence for a rate hike in December, demand for risk-off assets kept the Dollar low as the Senate’s Package still requires a full vote that is likely to take place next week.
Euro started the weak on a bad footing as Angela Merkel failed to form a coalition while on the data front investors prepare for Key Bank Member Speeches and Meeting Minutes.
Monday, November 20th
Investors concentrate on ECB’s Draghi double speech in Brussels.
Today, the economic calendar seems to be light-weighed around the globe with only volatility spikes coming about at 14:00 and 16:00 GMT on Draghi’s speeches before the European Parliament Economic and Monetary Affairs Committee.
ECB President Draghi is due to speak about the economy and monetary policy as well as on the European Systemic Risk Board.
Tuesday, November 21st
A volatile session with Policy Meetings, Inflation Report Hearings and Speeches in focus. Investors may find opportunities early in the Asian session as RBA is to release its last Policy Meeting Minutes at 00:30.
In addition, RBA’s Lowe will speak at 09:05 about recent developments in the Australian and global economy. At 10:00, several members will testify before the Parliament’s Treasure Committee around the UK Inflation Report Hearings.
On the US front, Fed Chair Yellen will participate in a panel discussion, giving traders the opportunity to scrutinize her engagement (11:00 GMT).
Wednesday, November 22nd
Market participants shift attention to ECB, FOMC, UK’s Annual Budget.
The session becomes interesting at 08:00 GMT, where ECB will hold its monthly Non-Monetary Policy Meeting.
At 12:30, the Office of Budget Responsibility in the UK will announce the Annual Forecast Statement, and an hour later, at 13:30, the US will deliver the latest figures for Core Durable Goods Orders and the Unemployment Claims report.
Commodity trades may turn to the Oil Inventories release at 15:30. At 19:00, the record of the most recent FOMC Meeting will be published and this is likely to produce some price fluctuations.
The session will close with New Zealand’s Retail Sales at 21:45.
Thursday, November 23rd
A packed session in Europe while US and JP are closed for holiday.
With European PMI reports starting being released from 08:00 GMT onwards till 09:00 GTM and UK’s 2nd GDP estimate being published at 09:30, Thursday is expected to start on a strong volatility.
At 12:30, the ECB Monetary Policy Accounts report may provide some opportunities, and this is likely to be the case at 13:30 too, when Canada is going to release deliver its Core retail Sales figures.
Friday, November 24th
A quiet session on the economic front as the day lacks economic indicators.
Friday’s session is likely to be quiet as there are no major economic events scheduled for release.
At 09:00 GMT, the Ifo Institute for Economic Research will publish its latest Survey on businesses, a leading indicator of economic health and future economic activity.
Original Source: FXPrimus News