If last week didn't fall behind market expectation an it has produced some impressive moves across the FX market don't expect market activity to cool off, the probability still remains in favor of this trend of higher volatility to persist. The current Central Banks monetary policy divergence across developed economies may play a factor in favor of higher volatility.

  • Europe data:

Despite a lot of data coming from the manufacturing sector, the main event remains the 6 November ECB meeting and although market consensus is that ECB will not announce yet any QE program they should keep their dovish tone. However given the fact that BOJ has announced to expand his QQE program just after FED ended with tapering it may be the case ECB will follow suit and I won't be surprised if they will announce at this week meeting their own QE program.

  • US data:

This week we'll have a bunch of data from the manufacturing sector but on top of all what matter most now is NFP. I think that now with the end of QE, the market will pay more attention to the economics data as the Fed is no longer the focus, they aren't buying anything so in this regard they are watching the data with the markets.

Best Regards,
Daytrader21
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