Two Major Eurozone Banks to Report

Fundamentals

Among yesterday’s fundamental news, UK unemployment – the number of jobless claims – rose by 7,300 versus the expected 5,000. But this did not save the pound. The chart sagged, testing the 1.2720 mark yesterday. After that, the GBP/USD pair managed to recover, but the pair’s movement was fairly volatile.
The US CPI edged lower to 1.9%. At the time of this writing, we unfortunately have no information on the Fed’s interest rate decision. We assume that Yellen will opt for raising the rate.
Today will offer a wealth of statistics, given that two major central banks are meeting and the US unemployment number will come out. But first things first.
Among today’s news: at 1:30 am GMT Australia’s unemployment figure is released. The number is expected to be 5.7%. Australian unemployment therefore remains at its lowest level since November, 2016.



At 7:30 am GMT, Switzerland publishes its central bank’s decision on the LIBOR rate. The rate is forecast not to budge (at -0.75% p.a.).
At 11:00 am GMT, the BoE announces its interest rate decision. You’ll recall that the inflation situation in the UK is not the best, and the political risks associated with, among other things, Brexit, have grown. Analysts, however, still tend to believe that Carney will not toughen monetary policy, but will leave the base rate at 0.25%. In any event, the Bank of England will provide the appropriate commentary on the decision. Mr. Carney is expected to speak at 8:00 pm GMT.
During the day, as usual at 12:30 pm GMT, traders will be trading on the US initial jobless claims. The number is predicted to fall to 241,000.

Stocks

The US supermarket chain Kroger is reporting today. Its stock is traded on the NYSE and has now been trading sideways for a fairly long time. The asset costs $30, but technically, external signs indicate a possible fall. The fundamentals might give the asset a push.
Apple traded up a little, forming what appears to be an inverted graphic flag. The 9-EMA continues to be negative, so the asset may continue trading in the red.

Currency Market

Despite external signs of a short-term trend reversal, the USD/CHF has gone sideways. It is rather hard to say anything definite about what the asset will do next. Technically, there may be a trend reversal in the daily time frame if there is a breakthrough of the price channel’s upper boundary – 0.9720, a 23.6% Fibo correction from the descending wave that began in May of this year.
But, on the other hand, the AUD/CHF pair managed to conquer the 9-day EMA, breaking through bottom up and heading for the resistance at 0.7400 (a 38.2% Fibo correction). If that boundary is reached, traders will likely prefer longs, after which they might try some aggressive scalping on the fall, bearing in mind the possibility of putting out some short shorts.

Nikolay Dudchenko, Olymp Trade analyst

Olymp Trade Review