With no influential developments over the weekend, we should see a quiet start to trading this week. Main focus will be on central banks with the Fed, BOE and BOJ holding policy meetings and the usual NFP-Friday. In other news the market awaits Trump’s decision on who will be the next Fed Chair since Yellen is out of the race.
USD: It will be a busy week in the US with FOMC, NFP, wage growth, trade balance, PCE price index, factory orders, construction spending and ISM PMIs.
GBP: the Bank of England will also be deciding on monetary policy and be sure to reserve your spot for our webinar on the day. We also get the 3 PMI readings during the week.
EUR: continental Europe will see it’s third-quarter GDP estimates and flash inflation alongside German retail trade and unemployment.
CAD: after the BOC’s decision last week, we will get speeches by Poloz, employment, trade balance and monthly GDP figures.
AsiaPac: In Japan, the Bank of Japan will meet and release its quarterly outlook report, but no changes in the monetary policy are expected. In Australia, the most important release will be retail sales. New Zealand will have it’s quarterly unemployment data. From China we’ll get the official manufacturing and non-manufacturing PMI. The Caixin manufacturing and services PMIs will also be watched.
Being end of month/start of new month, this week may be challenging for swing strategies and shorter-term models might be more adequate. I remain bullish on Dow; I’m also bullish on Crude Oil; I’m bearish on Euro, Cad & Aussie.
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