Weekly Preview: ECB & BOC to Move the Majors - Forex News by FX Leaders

Weekly Preview: ECB & BOC to Move the Majors

Posted Sunday, October 22, 2017 by
Rowan Crosby • 1 min read

Welcome to a New Trading Week Guys,

Last week was a big one, where equities continued their charge and the USD found some momentum as we ended the week with a bang.

On Friday things started to look pretty bullish for the USD as the Trump administration’s Tax Reforms took a big step forward. That meant the majors all started to get moving and we saw some massive charges in a number of pairs including the USD/JPY and the USD/CAD.

Looking at the US Dollar Index it’s clear that the momentum is strong and to the upside. I suspect we will be taking out 94.00 in the near future and as such I will be trading with that plan in mind.

 

DXY

US Dollar Index – 240 min Chart.

 

This week we will be looking to see whether that momentum can continue with the headline this week going to be centered around the ECB and their latest interest rate decision. However, let's not forget about the BOC who will also be releasing their interest rates also.

 

Top Economic Data This Week

Tuesday

EUR – German Manufacturing PMI

 

Wednesday

AUD – CPI

EUR – Business Climate

GBP – GDP

USD – Core Durable Goods & New Home Sales

CAD – BOC Monetary Policy

 

Thursday

EUR – ECB Interest Rate Decision

USD – Pending Home Sales

 

Friday

USD – GDP

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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