FOCUS OF THE WEEK!
Dear traders,
A relatively small amount of news will be released next week. In fact, this week will not be complete thanks to the celebration of Thanksgiving Day in the United States. Therefore, the end of the coming week will not be complete.
Despite the limitations of the week, it remains very modest in terms of statistics. On Tuesday the RBA meeting results and the report on construction in the United States will be published. No significant changes in monetary policy from the RBA protocol are expected, but the US statistics can have a significant impact on the American dollar. On Wednesday, the main events will also be in the USA, data on durable orders and sales in the secondary real estate market in the USA. With these news a data for the US will finish for next week, and the US session will significantly lose in activity.
On Thursday the ECB meeting minutes will be published, and it will be the main scheduled event of the week. Expectations regarding it remain quite restrained, since the ECB is likely to stick to a soft monetary policy. On Friday, attention should be focused on data on business activity and German GDP, and on inflation report in Canada, which will have a significant impact on national currencies.
The corporate reporting calendar will be less intense next week.
The Brexit negotiations and the possibility of a political crisis in the UK will stay on in the foreground of fundamental news. Therefore, volatile trades in the pound will continue, especially in the first half of the week, waiting for negotiations to take place on Sunday. The market also continues to monitor the possibility of easing the tension in the US and China trade relations, which will contribute to the growth of stock indices. (Anton Hanzenko)
Have a good trading week!
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