Expectations for the upcoming week
The first full week of November will be full of significant events and not only those that are in the economic calendar. At the start of the week, the market’s attention will be focused on the Reserve Bank of Australia meeting results, which does not expect changes in monetary policy. Comments on the Australian economy will affect the Australian dollar. On Wednesday, the publication of the Reserve Bank of New Zealand meeting results will take place, which also does not expect changes in monetary policy.
On Wednesday the results of the US Federal Reserve meeting will be published. This meeting will be a passing one, and will not carry a change in monetary policy. At the same time, the market will closely monitor the Fed’s sentiment, awaiting confirmation of further rate increases in December-January.
On Friday, the UK GDP data will close the week, expectations for which remain very positive, which may be an additional factor to strengthen the British currency amid the Brexit talks.
In addition to significant news in the form of meetings of the Central Bank, the week also promises to be saturated with fundamental events, among which the mid-term elections in the United States take the main position. The election results will be known on Wednesday, and the influence of the Trump administration largely depends on it. These events carry political risks. (Anton Hanzenko)
Read also: “Stock Indices: Asia-Pacific Region”
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