Much of the focus this week is on the Australian Monetary Policy and Chinese data both appearing on Tuesday (21 Oct) to include GDP and RBA minutes. China’s CPI figures are announced on Wednesday (22 Oct). All of these events will affect the currency pairs associated with the Australian dollar, but specifically AUDUSD, AUDJPY, AUDCAD.
Canada releases its Wholesale sales on Monday 20 Oct, with the BoC Rate decision and Retail Sales appearing on Wed 22 Oct. Activity on the Canadian dollar, currently suffering from low Manufacturing Sales released last week, will see slight volatility on both USDCAD and AUDCAD, Canada’s major trading partners’ currencies.
Sterling will view the Bank of England minutes on Wed 22 Oct, Retail Sales Thurs 23 Oct and GDP on Fri 24 Oct. After a week where sterling slumped and the FTSE lost, eyes will be on GBPUSD and GBPJPY.
In the Euro zone both Germany and France will release their PMIs on Thurs 23 Oct. As both French and German PMIs are forecast to stay stagnant at 48.6 and 49.6 respectively, the prediction indicates contraction in industry under the 50.0 mark, and will affect EURUSD and EURUGBP.
New Zealand will release CPI figures on Thurs 23 Oct, predicted to increase by 0.2 up to 0.5. Then on Friday 24 Oct, New Zealand’s Trade balance, indicating the difference in value between imported and exported goods sees forecasts of -620 million, down nearly 50% from -472, which may bring a renewal of the bearish trend in NZDUSD and NZDJPY if realised.
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