FOMC, What You Need To Know This Week

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Contents

US Dollar May Rise on FOMC Minutes, Coronavirus Risks

US Dollar Preview Ahead of FOMC Minutes, Coronavirus – Talking Points

  • US Dollar may rise on liquidity demand if FOMC minutes spook markets
  • Coronavirus pandemic continues to muddy the global growth outlook
  • GBP/USD capitulation may be ahead as pair eye descending resistance

Asia-Pacific Recap

The anti-risk Japanese Yen rose versus its G10 counterparts while the cycle-sensitive Australian and New Zealand Dollars fell with US equity futures. The risk-off tilt came as investors continue to closely monitor the impact of the coronavirus pandemic with market-wide expectations of a recession. It appears that the only point of contention is its depth and severity, rather than its – what many perceive as – inevitability.

US Dollar Analysis Ahead of FOMC Minutes

The US Dollar may rise if the FOMC meeting minutes from the March 15 policy announcement sparks risk aversion and boost the haven-linked Greenback. That day, not only did officials cut interest rates to 0.25-0.00 percent, but they also announced a $700 billion bond-purchasing program. $500 billion was to be devoted to Treasuries with the remaining $200b directed to purchasing mortgage-backed securities.

Despite this bazooka-level stimulus, growth-oriented assets suffered. While officials had hoped the credit-easing measures would boost confidence, it had instead produced the opposite effect. The Fed’s policies were likely seen as an official acknowledgement that conditions were so poor that it warranted a level of stimulus of that magnitude. If the underlying tone of the FOMC minutes reflect this same level of urgency, the US Dollar may rise at the expense of growth-oriented assets. Learn about why gold may suffer too .

GBP/USD Outlook

GBP/USD has made a remarkable recovery after it bottomed out at 1.1452, though it appears to now be on a modest corrective path. The pair’s bold price action began to turn more timid around late March before starting to trade below ever-steepening descending resistance. Looking ahead, if GBP/USD attempts to clear it to no avail, then a deeper correction could be up next.

GBP/USD – Daily Chart

GBP/USD chart created using TradingView

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— Written by Dimitri Zabelin, Currency Analyst for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

Where do you watch FOMC meeting minutes live?

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Just watch the Forex Factory news. The minutes are usually released @ 2PM eastern time about 3 weeks after the meeting. There’s usually 8 meetings a year.

***If you like to play crazy moves you might as well watch for all the “high-impact” news releases on FF rather than playing just 8 times a year. There’s plenty other days you can trade the same wild moves :-)

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Great panel discussion about young people and employment in the current environment.
So far, based on the interviews, it’s a mixed perception of pessimism and optimistic views toward employment.
When asked whether they would rather have a long-term career or a high-paying job, those interviewed said they’d rather have a long-term career. Many young people do not believe that their job options will be very promising without post-secondary degrees.

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Still don’t know what the Fed said regarding today’s announcement, but watching this panel is a real slice of reality that we don’t necessarily get from the Fed in the first place. From the way the market is reacting, apparently the announcement was also a mixed bag of tricks.

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FOMC statement at best is like asking a bunch of junior high school kids to write a book report. Obviously, there will be lots of differing meanings derived from the same piece of text. For FOMC, what matters is what the majority of the markets see it as. Simple as that. And as a thumb rule, if something is confusing, stay away from it rather than risk your money and gamble.

In regards to this latest FOMC, firstly the context was that October’s statement was more hawkish than expected, considering just the previous month the Fed was dovish (which again was misread as hawkish during the statement, but turned dovish during the minutes) and was concerned about unemployment and inflation.

So with October’s FOMC turning out to be hawkish (because it was mid-term elections in the US and the Fed usually doesn’t mess around these important events), markets were expecting to see the minutes showing more towards the hawks in the Fed, but the minutes turned out to be vague, which is why the markets were choppy yesterday and pairs like Euro and Pound managed to keep their gains.

As to FOMC being a market mover, I think the statement/press conference see’s larger moves than the minutes, unless the minutes themselves reflect what the statement was all about.

Never Watched ‘Rick and Morty’? This Is What You Need to Know

By Peter Libbey

    May 17, 2020

Whenever I am asked to explain the appeal of “Rick and Morty,” I propose a thought experiment.

Imagine that you grew up with the world’s tragedies being beamed into your living room by 24-hour cable news. Your country has been at war for much your lifetime. You graduated college with a huge amount of debt, and you entered the work force during the recent financial crisis. Imagine, too, that the world’s ecological crisis weighs heavily on your mind and that you spend as much time on the internet as you do speaking to real human beings.

If you were this sort of person, what television show would resonate with you?

“Rick and Morty,” the Adult Swim animated comedy by Justin Roiland and Dan Harmon, just might be the answer.

It is dark, even to the point of being nihilistic; it is absurdist; and it operates less like a novel or serial drama and more like a meme or internet video. It also speaks to the sense of alienation, anxiety and skepticism that it not uncommon among younger Americans today.

And it has just been renewed for 70 episodes. Adult Swim announced last week that as a part of an overall deal with the series creators, “Rick and Morty,” which numbers 31 episodes in its first three seasons, will return for more than double that number.

What is it about?

It’s a show about an ill-tempered, alcoholic scientific genius named Rick Sanchez and his teenage grandson, Morty Smith.

At the beginning of the series, Rick reappears after a long absence. He struggles to reconnect with his daughter, Beth, but has more luck with her son, Morty, who joins him on adventures that take them all over the multiverse.

Rick’s presence drives a wedge between Beth’s hapless husband Jerry — whom Rick loathes — and his family. That rift changes over the course of the series.

That doesn’t sound too strange. How is it different from “The Simpsons” or “Family Guy”?

All three shows are parodies of live-action sitcoms, but “Rick and Morty” overturns the genre while “The Simpsons” and “Family Guy” simply subvert it.

It’s hard to imagine, for example, either of the latter shows with a story line in which everyone turns into a mutant and the two lead characters shift into another version of reality to save themselves the way Rick and Morty did in “Rick Potion No. 9.”

Homer Simpson and Peter Griffin are ultimately likable fathers and oafs whose missteps and faux pas never really call their all-American values into question. By contrast, Jerry Smith, Morty’s father, can’t distinguish his real life from a shoddy simulation run by a race of scammer aliens in the episode “M. Night Shaym-Aliens!”

And Rick, the other father figure in the show, is known to say things like: “what people call ‘love’ is just a chemical reaction that compels animals to breed” and “I’m not the nicest guy in the world because I’m the smartest, and being nice is something stupid people do to hedge their bets.”

Rick might also be a sociopath and he is certainly reckless. He is considered a criminal by something called the Galactic Federation.

Is it a science fiction show?

Yes. Sort of. Rick is a scientist who has created technology that can transport him and his companions throughout and beyond the known universe. He and Morty regularly encounter aliens and extradimensional beings. In “Pickle Rick,” he turns himself into a pickle to avoid taking part in family counseling.

But the genre elements are secondary in the series. They’re usually used to show that our lives are meaningless specks in a vast but ultimately indifferent collection of universes and ever-splintering timelines.

Or they’re deployed to put the characters in revealing situations: In “Total Rickall,” multiplying alien parasites disguise themselves by implanting the family with false memories. It turns out that the parasites can only generate positive memories, so the family is able to identify and destroy them by recalling all the negative memories they have of one another.

Has it had much of a pop culture impact?

Indeed. You may have heard one of the show’s purposefully silly catchphrases, like “wubba lubba dub dub” or “pickle Rick!” Or maybe “get schwifty,” a phrase Rick coins in a song of the same name. He composes the song to please an alien visitor who threatens Earth with destruction.

There are also a lot of “Rick and Morty” memes but it’s likely they are not the favorite memes of most “Rick and Morty” fans.

What about the Szechuan sauce thing?

McDonald’s resurrected the Szechuan sauce (it was originally created for the release of Disney’s “Mulan” in 1998) in October 2020 after the show mentioned it in the first episode of Season 3. But demand far outweighed supply and many fans were left empty-handed.

Like expensive avocado toast, the “Rick and Morty” Szechuan sauce unrest has been used as the setup for jokes about millennials.

In response to the shortage, McDonald’s revived the Szechuan sauce for a second time in February, this time in a greater quantity.

Has there been a backlash against the show?

Of course. “Rick and Morty” fans have developed a reputation for their obnoxious self-regard. This has spawned a legion of memes that mock their egos.

More disturbingly, a portion of the show’s fans reacted negatively when four female writers were added to the staff for Season 3. At least two of the new writers, Jane Becker and Jessica Gao, were harassed online after episodes they wrote aired in 2020.

Mr. Harmon responded to the harassers in an interview with Entertainment Weekly, saying, “I loathe these people.” In January, Mr. Harmon apologized to Megan Ganz, a former writer on his sitcom “Community,” for mistreating her.

So millennials really like this show?

Millennials don’t call themselves millennials. That term is used by the type of person who doesn’t respond to the carefully assembled résumé and cover letter you’ve sent them.

But yes, they do like it. Season 3 of “Rick and Morty” delivered the highest ratings in Adult Swim history, and according to Nielsen, it was the most-watched comedy show for 18-to-34-year-olds in the United States in 2020.

Should I watch it?

What version of you are you referring to? In “Rick and Morty” there are potentially endless variations of everyone. There’s even an Evil Morty.

In this iteration of reality, Seasons 1 and 2 are available to stream on Hulu and some episodes from Season 3 are available on the Adult Swim website.

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Trading in the FX Market is more than just plotting indicators and placing an EA on a chart. Fundamentals are the catalyst and the driving force behind price moves, and if you aren’t keeping your ear to the ground, any one of a myriad of news events can seriously ruin your day. Bookmark this page to stay up-to-date on trending news and upcoming news events that affect your trading.

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USD/JPY Technical Analysis: Bears challenge 50-DMA, ascending trend-line confluence support

The USD/JPY pair extended the overnight rejection slide from the 109.00 handle and remained under some selling pressure for the second consecutive session on Friday.

EUR/USD sidelined around 1.1100 ahead of key US data

EUR/USD manages well to keep business in the upper end of the range around the 1.1100 handle so far on Friday.

Forex Today: Happy Friday for trade talks, GBP/USD holding onto Boris boost, all eyes on the NFP

Here is what you need to know on Friday, December 6:

OPEC+ said to discuss deeper oil cuts – RTRS

According to the latest headlines floating on the wires, citing two sources familiar with the matter, OPEC and its allies were said to discuss deeper oil cuts of more than 400k bpd as the main scenario.

Gold holds steady near $1475, weaker USD lends some support

Gold struggled to capitalize on the attempted intraday positive move and is currently placed near the lower end of its daily range, around the $1475 region.

Forex Today: Kiwi lifted by RBNZ amid cautious optimism; eyes on OPEC+ meet, trade

Forex today was a quiet Asian affair, as markets absorbed the latest trade deal optimism with a pinch of salt. The Asian equities traded firmer following the positive Wall Street lead. However, the US equity futures and Treasury yields traded on the back foot that kept the US dollar weaker against most majors, except for the Aussie dollar.

Asia: PMIs back in expansion territory – TDS

Mitul Kotecha, senior emerging markets strategist at TD Securities, points out that there was slight improvement in Asia’s manufacturing PMI’s in November, with all but two (Thailand and Philippines) rising.

EUR/USD stays firm near 1.1100, looks to data

Mitul Kotecha, senior emerging markets strategist at TD Securities, points out that there was slight improvement in Asia’s manufacturing PMI’s in November, with all but two (Thailand and Philippines) rising.

BoC Preview: Major Banks expecting BoC to hold fire today

“Bank of Canada is widely expected to leave rates unchanged at today’s interim monetary policy meeting. Things are slowly shaping up for an easing of monetary policy and with one full cut priced for 2020, markets will look for confirmation.”

US: Mixed manufacturing data – Deutsche Bank

Deutsche Bank analysts note that the US manufacturing PMI was revised up 0.4pts to 52.6, which matches the April levels once again.

Gold: Back in the red around $ 1460 amid USD comeback

Gold failed to capitalize on its recent recovery and fell back into the red zone on Tuesday, in response to the broad-based US dollar come back from weekly lows amid a bounce in the US Treasury yields.

Forex Today: Trump’s tariffs weigh on USD before meeting Boris, AUD surges, EUR rising

Here is what you need to know on Tuesday, December 3:

Australia: Dwelling approvals weaken – Westpac

Matthew Hassan – Chief Economist at Westpac Banking Corporation – offered his take on Monday’s disappointing Aussie housing market data, wherein building approvals recorded a drop of 8.1% in October as compared to the previous month’s downwardly revised gain of 7.2%.

UK Industry: Brexit, weak global demand to hurt UK in 2020

The Confederation of British Industry (CBI) and a manufacturing trade body, Make UK, have made downward revisions to their 2020 UK growth forecasts amid looming Brexit risks and bleak global economic outlook, per Reuters.

Forex Today: China lifts mood, Boris and Merkel in trouble, critical data kicks off December

Here is what you need to know on Monday, December 2:

Forex Week Ahead – Market Awaits China Retaliation on Trade

Trade hopes were boosted by comments from the US and China earlier in the week, only to be stamped out after the signing of an American law that supports Hong Kong autonomy was criticized by China bowing retaliation. The prolonged trade war has.

BOJ’s Kuroda: Not thinking of further easing at present

More comments flowing in from the BOJ Governor Kuroda, as he downplays expectations of further monetary policy easing at present.

EUR/USD looks for direction near 1.10 ahead of key data

EUR/USD keeps orbiting around the 1.10 handle at the end of the week amidst anaemic trade conditions and marginal volatility.

Forex Today: Soggy Black Friday mood, GBP/USD retreats, EZ inflation awaited

Here is what you need to know on Friday, November 29, Black Friday:

AUD/USD struggles near multi-week lows, just above mid-0.6700s

The AUD/USD pair dropped to fresh six-week tops during the Asian session on Thursday, albeit now seems to have found some support ahead of mid-0.6700s.

ECB’s Villeroy: Brexit uncertainty likely to last for at least some quarters in the future

Speaking to reporters in early Europe on Thursday, the European Central Bank (ECB) Governing Council member and Bank of France Head Villeroy de Galhau said that the Euro area suffered most from external uncertainty this year.

Forex Today: Sterling surges as poll backs Boris, dollar bulls thankful, Trump angers China

Here is what you need to know on Thursday, November 28:

If Trump refuses to roll back tariffs, loss to American farmers could be permanent – Global Times

“If Trump administration refuses to roll back high tariffs, the vast number of American farmers could face a loss of exports to the Chinese market, and the loss could be permanent if the trade war lingers longer,” the Chinese highly-read news publication.

EUR/USD is offered near term – Commerzbank

Karen Jones, analyst at Commerzbank, suggests that EUR/USD is offered near term and attention is on the 1.0989 mid-November low and whilst it holds, last week’s high at 1.1097 may be revisited, a rise above which would have the 1.1180 October high in its sights.

Forex Today: Massive pre-holiday US data dump, Trump holding back deal, critical UK poll eyed

Here is what you need to know on Wednesday, November 27:

UK: Disorderly Brexit comes off the table – ABN AMRO

Senior economist at ABN AMRO, suggests that cutting through the noise of the many recent developments in the UK, by far the most important for the economic outlook has been the significant fall in the chance of a no-deal, disorderly Brexit.

EUR/USD faces dual resistance lines, downside is easier – Confluence Detector

EUR/USD is trading just above 1.10, looking for a new direction amid contradicting trade headlines. Which direction will it choose? The downside seems more appealing.

Forex Today: Markets doubt US-Sino progress, Powell sees glass filling, GBP/USD spooked by poll

Here is what you need to know on Tuesday, November 26:

EUR/USD could still re-test the vicinity of 1.1100 – Commerzbank

According to Senior FICC Technical Analyst at Commerzbank, the pair could still attempt a test of the boundaries of 1.1100 while above the 1.0989 level.

Forex Today: Cheering China’s olive branch to Trump, Boris extends lead, EUR/USD faces test

Here is what you need to know on Monday, November 25:

Risk sentiment buoyed by trade optimism, focus on German IFO

Risk-on sentiment dominated the Asian trades at the start of a fresh week, as markets rejoiced the renewed trade optimism following the upbeat remarks from both the US and Chinese officials.

Markets remain fixated with the US-China Trade War and Brexit

Financial markets were told we have a phase-one trade deal six weeks ago, but US legislation supporting Hong Kong protesters and disagreements on tariff rollbacks have raised the risk of complete setback in trade talks.

JPY Futures: looks neutral/bullish near-term

According to flash data from CME Group for JPY futures markets, open interest went up for the third session in a row on Thursday, now by just 396 contracts. Volume, instead, reversed the previous build and shrunk by around 7.4K contracts.

ECB’s Lagarde: We face a global environment that is marked by uncertainty

While delivering a key note address at the European Banking Congress, in Frankfurt, on Friday, the new European Central Bank (ECB) President Lagarde said: “We face a global environment that is marked by uncertainty”.

Breaking: EUR/USD jumps to 1.1085 as German Preliminary Manufacturing PMI surprises positively with 43.8

The German manufacturing sector contraction slowed in November, the preliminary manufacturing activity report from IHS/Markit research showed this Friday.

EUR/USD clings to gains near 1.1080 ahead of ECB

EUR/USD maintains the sideline theme in the upper end of the weekly range in the 1.1080/90 band amidst a steady greenback.

Gold flirting with session lows, around $1470 region

Gold edged lower through the Asian session on Thursday and is currently placed near the lower end of its daily trading range, around the $1470 region.

Forex Today: Trump’s trade deal in trouble, Boris bounces back, EUR/USD awaits ECB Minutes

Here is what you need to know on Thursday, November 21:

Gold Price News & Forecast: XAU/USD $1,475 continues to cap upside

Gold technical analysis: $1,475 continues to cap upside.

FOMC minutes: Key event ahead

Following a few quiet days on the data front, the Riksbank is set to present its Financial Stability report today.

Forex Today: US Senate’s HK bill weighs on sentiment, Corbyn crashing the pound, Fed minutes awaits

Here is what you need to know on Wednesday, November 20:

USD/JPY technical lines drawn as trade uncertainty persists – Confluence Detector

Dollar/yen has been on the back foot amid doubts that the US and China are able to strike a trade deal. Looking at the charts, the technical battle lines are well-drawn.

OPEC’s share of Indian oil imports in October hits lowest since 2020 – Reuters

Reuters reports the latest tanker data from sources, showing that OPEC’s share of India’s oil imports hit the monthly lowest since at least 2020.

Forex Today: Dollar depressed amid trade skepticism, Bitcoin battered, Johnson-Corbyn debate eyed

Here is what you need to know on Tuesday, November 19:

AUD/USD Technical Analysis: Upside is likely to remain capped near a support-turned-resistance

The AUD/USD pair struggled to capitalize on the previous session’s goodish recovery move and remained depressed through the early European session on Monday.

RBNZ likely to have two further cuts in May and August next year

According to analysts at ANZ, the RBNZ, RBA, and the Federal Reserve have all now joined the Texas Hold’em club, betting – for now – on previous rate cuts doing the job.

BoE expected to remain on hold for the time being

Economist at UOB Group, gave her views on the latest releases in the UK docket and the BoE event.

USD/JPY moves back closer to multi-month tops, around 109.25-30 region

The USD/JPY pair caught some fresh bids on Tuesday and has now moved well within the striking distance of multi-month tops set last week.

BoE to deliver a 25bps cut in January 2020 – Danske Bank

Danske Bank analysts suggest that following the dovish policy signal sent by Bank of England last week, they now expect it to deliver a 25bp cut at its next ‘big’ .

Forex Today: Tension toward Trump’s trade comments, boost for Boris holds up, data eyed

Here is what you need to know on Tuesday, November 12:

EUR/USD clings to gains around 1.1020

After a brief test of daily highs around 1.1030, EUR/USD has now re-shifted its focus to the lower end of the range in the 1.1020 zone.

Gold recovers from 3-month lows, up little around $1465 level

Gold prices edged higher on the first day of a new trading week and recovered a part of the previous session’s slide to three-month lows, though lacked any strong bullish conviction.

Forex Today: Trump’s trade pessimism pressures markets, Spain stuck again, UK GDP set to rise

Here is what you need to know on Monday, November 11:

Forex Week Ahead – Trade war, UK, RBNZ, Banxico, Spain

This week has been a little slow, trade deal speculation and baffling UK election gaffs aside. There’s a lot more economic data to come over the next week, with particular focus it seems on the .

RBA is not complacent about AUD remaining weak – Westpac

Analyst at Westpac, points out that the RBA embraced the opportunity of the FOMC’s guidance of a sustained pause in rate-cutting to not only hold its cash rate steady at 0.75% but to make clear that it expects to hold again in December.

ECB Economic Bulletin: Moderate but positive growth in H2

The latest European Central Bank (ECB) Economic Bulletin is surprisingly upbeat. The ECB have stated that incoming data and survey results point to moderate but positive growth in the second half of 2020.

Gold ticks higher, lacks follow-through

Gold edged higher on Wednesday and recovered a part of the overnight sharp fall to three-week lows, albeit seemed struggling to capitalize on the attempted bounce.

EUR/USD now risks a move to 1.1000 – UOB

In opinion of FX Strategists at UOB Group, EUR/USD could now slip back and test the 1.10 region in the next weeks.

Forex Today: Chinese tariff demands may break trade talks, USD marches forward, Fed speakers eyed

Here is what you need to know on Wednesday, November 6:

OPEC: Raises mid-term outlook for non-OPEC Oil supply growth

OPEC forecasts global oil demand to rise to 103.9 million bpd (mbpd) by 2023 and raised its mid-term outlook for non-OPEC oil supply growth for 2020.

EUR/USD upside loses momentum

FX Strategists at UOB Group noted further upside in EUR/USD appears to be losing some traction.

Asia: PMIs pull back – TDS

Mitul Kotecha, senior emerging markets strategist at TD Securities, suggests that their composite GDP weighted Asia manufacturing PMI measure recorded a renewed slip into contraction in October while the average Asia PMI measure remained in contraction for a fifth straight month.

ECB: Focus on Lagarde’s speech

Analysts at TD Securities point out that Christine Lagarde makes her first speech tonight since taking over as ECB President on the 1st of the month.

BoE to leave the policy rate unchanged – Rabobank

Rabobank analysts are expecting the Bank of England to leave the policy rate unchanged at 0.75% on Thursday 7 November.

Forex Today: Markets have reasons for a happy Monday, Boris Johnson remains in the lead, Lagarde eyed

Here is what you need to know on Monday, November 4:

Week Ahead – RBA and BOE Decisions in focus as UK election campaigns begin

The upcoming week will focus heavily on incremental trade updates, German economic data, an RBA rate decision, Bank of England policy meeting that comes with updated economic forecasts and the beginning of campaign season for Britain’s first December general election since 1923. While investors are.

EUR/USD trims gains and recedes to 1.1150 ahead of NFP

The buying interest around the single currency remains well and sound so far this week, with EUR/USD meandering the upper end of the range around 1.1170.

The Fed moves into a ‘wait-and-see’ mode

Senior Economist at UOB Group Alvin Liew reviewed the recent FOMC event, where the Committee reduced the FFTR by 25 bps.

Forex Today: Dollar defeated ahead of Non-Farm Payrolls, Chinese data cheers markets

Here is what you need to know on Friday, November 1:

EUR/USD unchanged near 1.1170 post-EMU data

EUR/USD keeps the solid pace in the 1.1170 region on Thursday following key releases in Euroland.

FOMC and BoJ meetings should have supported USD/JPY – Westpac

According to a Senior Currency Strategist at Westpac – the combination of the FOMC and BoJ meetings really should have supported USD/JPY.

Forex Today: Dollar depressed after the Fed, trade talks accelerate, and another busy data day awaits

Here is what you need to know on Thursday, October 31:

FOMC Preview: What 11 major banks are expecting from October

Today, world markets are keenly awaiting the outcome of the all-important Federal Open Market Committee (FOMC) monetary policy decision for the month of October, which will be.

EUR/USD could still visit the 1.1180 region

In opinion of FX Strategists at UOB Group, the upside momentum in EUR/USD could extend to the 1.1180 region.

Forex Today: Super Wednesday features the Fed, US GDP, and lots more as Brits brace for “jingle polls”

Here is what you need to know on Wednesday, October 30:

Further upside in EUR/USD lost traction

FX Strategists at UOB Group noted the bullish outlook on EUR/USD appears to have lost some momentum despite a test of 1.1180 still remains on the cards.

BoC likely to leave the policy rate unchanged – Rabobank

Rabobank analysts are expecting the Bank of Canada to leave the policy rate unchanged at 1.75% on 30th October.

Forex Today: Trump’s trade hope lifts markets, Boris brings elections to parliament, Bitcoin bruised by Chinese warning

Here is what you need to know on Tuesday, October 29:

Brexit, FOMC meeting amongst market movers this week – Danske Bank

The Danske Bank analysts provide brief insights on the important events of note, scheduled this week.

Gold consolidates in a range, just above $1500 mark

Gold refreshed daily tops during the early European session, albeit lacked any strong bullish conviction and remained well below three-week tops set on Friday.

EUR/USD Technical Analysis: recovery could extend to the 100-day SMA at 1.1128

EUR/USD is rebounding from recent lows in the 1.1070 region after two consecutive daily pullbacks.

Week Ahead – Brexit, Fed, BoC, BoJ and Earnings

A fascinating week ahead as three major central banks hold monetary policy meetings, with two potentially pulling the trigger on a rate cut. The Fed is the most likely of these with markets pricing in more than a 90% chance of a third consecutive 25 basis point reduction.

Brexit: EU to extend Brexit deadline without a date – Reuters

Citing a senior European Union (EU) official familiar with the matter, Reuters on Friday reported that the EU was expected to announce a decision, in principle, to extend the Brexit deadline without specifying a date.

Gold climbs to fresh two-week tops, above $1505 level

Gold edged higher on the last trading day of the week and climbed to fresh two-week tops, around the $1507 region in the last hour.

FOMC: Still no pre-commitment to more easing

Danske Bank analysts expect the Federal Reserve will cut rates again by 25bp when it meets next week (announcement Wednesday 19:00 CEST).

ECB meeting to be a relatively uneventful policy-wise

According to Rabobank analysts, Mario Draghi’s final meeting as President of the ECB today should be a relatively uneventful policy-wise.

Forex Today: Brexit in the EU’s hands, EUR/USD may struggle with Draghi one last time, Bitcoin battered

Here is what you need to know on Thursday, October 24:

ECB: Draghi’s last Governing Council meeting – Deutsche Bank

Deutsche Bank analysts suggest that the market highlight today comes from the ECB, in what will be President Mario Draghi’s last Governing Council meeting before Christine Lagarde takes over on 1 November.

EU’s Tusk: Will react to Brexit delay request in the coming days

The European Union Council President Donald Tusk, speaking in the parliament this Tuesday, said that we are ready for all scenarios and will react to Brexit delay request in the coming days.

EUR/USD: Steady trading – Commerzbank

Analyst at Commerzbank, notes that EUR/USD held steady yesterday and continues to target initially the 200 day ma at 1.1207 and then the top of the channel at 1.1290.

Forex Today: Critical vote on Brexit, mixed messages on trade talks, Trudeau returned as Canadian PM

Here is what you need to know on Tuesday, October 22:

EUR/USD could test the 1.1200 region near term – UOB

In opinion of FX Strategists at UOB Group, the upside momentum in EUR/USD could extend to the 1.1200 neighbourhood in the next weeks.

Breaking: GBP/USD breaks above 1.30 as DUP rejects customs union amendment to the Brexit deal

GBP/USD has topped 1.30 and is trading at the highest levels since mid-May – a five-month high. The pound has extended its gains as the chances for parliament to approve the Brexit deal have improved.

Forex Today: Boris and sterling brace for more Brexit drama, some stability in trade, and Canada votes

Here is what you need to know on Monday, October 21:

Brexit Optimism Rises Despite Parliament Obstacle

The British pound is near 5-month highs ahead of Saturday’s showdown as the UK parliament is being asked to ratify the deal that PM Johnson and his EU counterparts reached to avoid a hard Brexit on October 31. The odds of .

USD/JPY upside could be losing momentum – UOB

The upside momentum in USD/JPY appears to be running out of steam, noted FX Strategists at UOB Group.

EUR/USD now looks to a test of 1.1165 – UOB

Following the recent up move, FX Strategists at UOB Group now expect EUR/USD to advance to 1.1165.

Forex Today: Speculation about the Brexit vote, assessing Chinese mixed figures, and the Fed’s last rate hint

Here is what you need to know on Friday, October 18:

ECB speakers advocated fiscal easing – Deutsche Bank

Deutsche Bank analysts point out that we heard from a number of ECB Governing Council members over the last 24 hours with the ECB’s Chief Economist Philip lane advocating fiscal easing.

EUR/USD Technical Analysis: The up move faltered just ahead of the 100-day SMA near 1.1140

EUR/USD has quickly climbed to fresh 2-month highs near 1.1140 boosted by news of a Brexit deal.

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