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Monday: what’s coming up in the forex markets this week?

Now that there’s a new foreign exchange week underway, it’s time to assess what’s happening in the markets over the course of this week.

Today (Monday), there will be some slowdown in one of the world’s major currency markets.

New Zealand, whose dollar is one of the six main currencies around the world, will celebrate Labour Day, and hence its banks will be closed.

The rest of the world is also set to see a slow day, albeit not because of bank closures or holidays.

The main action will be a few speeches from central bankers.

Mario Draghi, who is the outgoing president of the European Central Bank, will speak at 3pm GMT.

This will be followed by a speech from the Bank of England’s Silvana Tenreyro, who sits on the Monetary Policy Committee, at 5pm GMT.

The Tokyo consumer price index for October, excluding fresh food, will be out at 11:30pm GMT.

Year on year this is expected to show a change from 0.5% to 0.7%.

On Tuesday of this week, the Reserve Bank of Australia’s governor Philip Lowe will be speaking at 6:45am GMT.

Later in the morning, there will be a retail sales release for September from Spain.

This is expected to show no year on year change from 3.2%.

Italian producer price index information for September will be out at 9am GMT.

This is predicted to show a change from -1.4% to -0.9%.

A speech by the president of the German Bundesbank, Jens Weidmann, will occur at 9:50am GMT.

In the afternoon, US pending home sales data for September will be out at 2pm GMT.

This is forecast to show a change from 1.6% to 0.5%.

On Wednesday, Australian consumer price index data for Q3 of 2019 will be out at 12:30am GMT.

This is expected to show a quarter on quarter change from 0.6% to 0.5%.

Preliminary gross domestic product data for Q3 of 2019 will come out of France at 6:30am GMT.

This is due to show a quarter on quarter change from 0.3% to 0.2%.

A preliminary consumer price index release will come out of Spain at 8am GMT.

This is forecast to show no month on month change from its previous position of 0%.

German unemployment rate data for October will be out at 8:55am GMT.

This is expected to be held firm at 5%.

Europe-wide industrial confidence data for October will be out at 10am GMT.

This is predicted to show a change from 101.7 to 101.1.

A preliminary harmonised index of consumer prices for October will be out of Germany at 11am GMT.

This is forecast to show no change from its previous position of 0.9%.

Preliminary annualised US gross domestic product data for Q3 of 2019 will be out at 12:30pm GMT.

This was last recorded at 2.4%.

Core personal consumption expenditure for Q3 will be out at 12:30pm GMT and is set to show a change from 1.9% to 2%.

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.


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