THIS WEEK'S INDICATORS
Oil and poor EU fundamentals drive Dollar prices higher while the US Yield widens amid increasing mortgage rates. This week is full-on for the British Pound but also critical of the policy stance as EU and US release their meeting minutes. Any developments on the Italian government fiasco may weigh in.
DOLLAR INDEX DAILY CHART
MONDAY
Session moderate as no economic indicators scheduled in. Today, we are expecting markets to remain somewhat moderate in terms of activity as volatility is likely to stay at low levels with no major economic indicators due. Moves to support technical levels.
TUESDAY
Plethora of British data releases starts with inflation report hearings.The session is expected to be more volatile than quiet Monday as Carney and MPC members are testifying on inflation and the UK’s economic outlook just a day before the UK CPI. Markets will be focused on the risk event.
WEDNESDAY
Global economic indicators to setweekly tone, session highly volatile.On Wednesday, the market will be concerned with Euro-zone’s PMIs and the UK’s inflation figures in the morning London session; two events not to be ignored. At 14:30, EIA will deliver yet another weekly stocks report on unstoppable Oil, and later, the FOMC will release the minutes that market participants have been waiting for to identify new opportunities.
THURSDAY
ECB delivers meeting accounts, UK data critical for British Pound.Thursday features UK’s Retail Sales just a few hours before the ECB monetary policy meeting accounts. Both data releases are expected to affect the markets. With BoE Gov Carney speaking twice on Thursday, investors may pay attention to activity on the Cable.
FRIDAY
A strong end-of-week session with data from UK and US setting weekly close. The closing of the week will be critical for UK as ONS delivers UK’s 2nd estimate GDP, while later in the session Carney is due to participate in a panel discussion where FOMC's Powel’s is due to speak too. In the US, the Core Durable Goods Orders is due at 12:30 GMT, an event quite significant for Dollar pairs.
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