Forex Focus on Fed Decision and Bank of Canada

Investors await today the Fed decision but before that we have many macro data coming out from Europe; the France Q3 preliminary GDP figures due at 6:30GMT, France September consumer spending data will be out at 7:45GMT. The Switzerland October KOF leading indicator index will be released at 8:00GMT. Spain October preliminary CPI figures expected at 8:00GMT, Germany October unemployment change, rate will be out at 8:55GMT.

Switzerland October Credit Suisse investor sentiment survey will be released at 9:00GMT, followed by the Eurozone October final consumer confidence and Eurozone October economic, industrial and services confidence due at 10:00GMT. US MBA mortgage applications for the week 25 October will be out at 11:00GMT, the Germany October preliminary CPI figures will be out at 13:00GMT.

In the American forex calendar we have the ADP Nonfarm Employment Change due at 12:15, followed by the US GDP q/q at 12:30.

Crude oil traders await the EIA Crude Oil Stocks Change due at 14:30GMT.

In our central Bank calendar, the Bank of Canada Interest Rate Decision will be released at 14:00 followed by the Press Conference at 15:15

The main dish of the day is the FOMC Statement and Fed Interest Rate Decision due at 18:00, followed by FOMC Press Conference at 18:30.

The ECB Executive Board Member Lautenschlaeger will speak at 17:30.

Don’t miss a beat! Follow us on Telegram and Twitter.

Asian equity indices are trading lower today; Nikkei is 0.57% lower at 22,843 and the Hang Seng trading 0.48% lower at 26,655. EURUSD trades 0.0% higher at 1.1116; the USDJPY is 0.04% lower at 108.84 while the AUDUSD is 0.02% higher at 0.6865.

The central bank of China set the Yuan rate (USDCNY) at 7.0617 versus yesterday settlement at 7.0762.

Download our latest quarterly market outlook for our longer-term trade ideas.

Do you enjoy reading our updates? Become a member today and access all restricted content. It is free to join.

Related Posts: