Forex Weekly Outlook October 27-31
Currencies were mixed in the past week, with the greenback gaining against the euro and the yen, while sliding against the the Aussie and the loonie. The Fed decision is the highlight of the week, alongside Yellen’s speech, GDP in the US and Canada and two additional rate decision. These are a few of the events on our calendar for this week. Follow along as we explore the Forex market movers.
US data looked quite solid in the past week, with inflation and housing both edging above expectations. Also jobless claims kept up, and there is a growing sense that QE is going to end as planned, defying Bullard’s words in the previous week. In the euro-zone, optimism comes from German data but not from France, and the ECB has also corporate bonds on its agenda. The UK has seen disappointing retail sales and no rush to raise interest rates. Chinese GDP came out above expectations and supported the Aussie, but CPI took it away. The kiwi suffered more from its own CPI, while the loonie got a boost from a mildly more hawkish BOC, in the background of the Ottawa shooting. Where are currencies headed next? Let’s start: