Analysis and Recommendations: The EUR/USD added 4 points to trade at 1.2739 as traders wait for the Federal Reserve decision due in a few hours. The U.S.
Analysis and Recommendations:
The EUR/USD added 4 points to trade at 1.2739 as traders wait for the Federal Reserve decision due in a few hours. The U.S. Federal Reserve’s rate-setting Open Market Committee (FOMC) concludes its two-day meeting later in the day, and is widely expected to end its $4 trillion asset purchase programme.
Most investors also expect the FOMC to keep its key policy language unchanged in its statement, with the phrase “a considerable amount of time” being retained with respect to the timing of a rise in interest rates.
Yesterday afternoon’s session in the global currency markets brought comments from a European Central Bank (ECB) policymaker which will send shudders down the spines of investors holding Euro (EUR) denominated assets. ECB Governing Council member Christian Noyer, (also the Governor of the Bank of France), told the French Senate a short time ago that he confidently anticipated that the rate of inflation in the eurozone would be no higher than 0.6% by the end of this year. Noyer went on to warn that the ECB’s board would not stand by and, ‘passively accept… that inflation is too weak in relation to our target’.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Today’s economic releases actual vs. forecast:
Cur. |
Event |
Actual |
Forecast |
|
||
|
JPY |
Industrial Production |
2.7% |
2.2% |
-1.9% |
|
|
NZD |
Business Confidence |
26.5% |
|
13.4% |
|
|
CAD |
RMPI (MoM) (Sep) |
|
-1.0% |
-2.2% |
|
|
USD |
FOMC Statement |
|
|
|
|
|
USD |
Fed Funds Target Rate |
|
0.25% |
0.25% |
Upcoming Economic Events that you should be monitoring:
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
NZD |
RBNZ Rate Statement |
|
|
|
|
|
|
AUD |
HIA New Home Sales |
|
|
3.3% |
|
|
|
GBP |
Nationwide HPI (MoM) |
|
0.3% |
-0.2% |
|
|
|
GBP |
MPC Member Cunliffe |
|
|
|
|
|
|
EUR |
Spanish GDP (QoQ) |
|
0.5% |
0.6% |
|
|
|
EUR |
German Unemployment |
|
5K |
13K |
|
|
|
EUR |
German Unemployment |
|
6.7% |
6.7% |
|
|
|
USD |
GDP (QoQ) (Q3) |
|
3.0% |
4.6% |
|
|
|
USD |
GDP Price Index (QoQ) |
|
2.0% |
2.1% |
|
|
|
USD |
Initial Jobless Claims |
|
283K |
283K |
|
|
|
USD |
Fed Chair Yellen |
|
|
|
|
|
|
EUR |
German CPI (MoM) |
|
-0.1% |
0.0% |
Government Bond Auction
Date Time Country Auction
Oct 29 10:03 Sweden Sek 3.5bn 5.0% Dec 2020 bonds
Oct 29 10:30 Germany Eur 4.0bn Aug 2024 Bund auction
Oct 29 15:30 US Usd 15bn 2Y FRNs
Oct 29 17:00 US Usd 35bn 5Y Notes
Oct 30 10:10 Italy BTP/CCTeu auctions
Oct 30 17:00 US Usd 29bn 7Y Notes
Nov 03 10:00 Norway T-bill auction
Nov 04 10:15 Austria RAGB auction
Nov 04 10:30 Belgium 3 & 6M T-bill auction (Feb & Apr 2015)
Nov 04 10:30 UK Auctions 0.5% 2050 I/L Gilt
Nov 05 10:30 Germany Eur 4.0bn Oct 2019 Bobl auction
Nov 06 09:30 Spain Bono/Obligacion auction
Nov 06 10:03 Sweden I/L bond auction
Nov 06 11:00 Norway Announces details of bond auction on Nov 11
Nov 07 16:30 Italy Announces details of BOT auction on Nov 12