FOCUS OF THE WEEK!
Dear traders,
The end of October and the beginning of November will be eventful. In addition to the publication of GDP data, inflation and business activity in the manufacturing sector, the results of the Bank of England meeting and employment reports in Germany, the Eurozone, the USA and Canada will be published.
The beginning of the coming week will be relatively calm. Starting on Tuesday, the market is in full power of published news. So, on this day there are an employment data in Germany and preliminary data on eurozone GDP, which will set the tone for the euro at the beginning of the week.
Wednesday will be saturated with inflation data in Australia and the Eurozone. At the same time on this day it is expected to publish the protocol of the Bank of Japan and the GDP of Canada. The report on US oil reserves will close the day.
On Thursday, the day is full of statistics on business activity in the manufacturing sector (PMI). But also on Thursday it will be the publication of the Bank of England meeting results.
On Friday, the saturation of the economic calendar will not decrease, but the main event of the day will be the US employment report, positive expectations for which will support the dollar throughout the week.
The stock market will continue to remain at the mercy of corporate reporting, which, in turn, will continue to set the mood in stock markets.
Fundamental risks remain negotiations on Brexit and the budget of Italy. It is also worth noting the expectation of the entry into force of sanctions against Iran, that are scheduledplanned for early November, which, in turn, will be the reason for speculation in the oil market. (Anton Hanzenko)
Have a good trading week!
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