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A busy week is coming for the FX and stock markets

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Going mildly in the new month, unfortunately, the good mood of yesterday, was interrupted today and resumed the "bloody October" once the rumors of a potential deal between the US and China were disproved, and Apple showed some disappointing reports, that they will no longer announce sales data for their new products. The indices wiped out today's price rises and the dollar began to lose momentum. On Sunday, we are expecting US sanctions against Iran to start a tough start for next week's oil. We expect the weakening of the dollar to continue next week, with the possibility that the indices will continue to decline further. The Fed will have a meeting next week that will not decide on the interest rate and there will be no press conference, but after today's data, we expect the Fed to consolidate its position in their decision to raise interest rates in December.

The economic calendar in the new week will be dominated by central banks, with 3 interest rates. The first one comes on Tuesday morning when the RBA will set the base interest rate in Australia. Broad expectations are preserving current monetary policy. Then on Wednesday night, the New Zealand central bank is also expected not to take measures against the country's interest rates. Interesting will be the report of the two banks on the health of the economy and the influence of the Fed on global monetary policies as the gap in interest rates between the G7 and the US is beginning to become too great. The US is expected to tighten the economy once more this year, as it will happen in December. The Fed has decided on interest rates on Thursday in the new week, but it will be more formal as no surprises are expected.

Another interesting moment comes on Friday, when UK GDP data will be published. Analysts' expectations are for a higher economic growth rate than the previous one, but it will be interesting to see from a first-person view that Brexit is already approaching the economy of the island. All banks in Europe covered the ECB stress test requirements without any problems, but the UKs ranked with the lowest score, which in itself can be interpreted as a red flag for future danger
The important economic news for the new week

Monday:
17:00 USA - ISM Non-Manufacturing PMI

Tuesday:
05:30 Australia - RBA Interest Rate Decision
11:00 Europe - Markit Composite PMI
17:00 USA - JOLT's Job Openings
23:45 New Zealand - Employment Change

Wednesday:
09:00 Germany - Industrial Production
10:30 UK - Halifax House Price Index
12:00 Europe - Retail Sales
17:00 Canada - Ivey PMI
17:30 USA - Crude Oil Inventories
22:00 New Zealand - RBNZ Interest Rate Decision

Thursday:
Tentative China - Trade Balance
11:00 Europe - ECB Economic Bulletin
21:00 USA - FOMC Interest Rate Decision

Friday:
02:30 Australia - RBA Monetary Policy Statement
11:30 UK - Gross Domestic Product


 Jr Trader Martin Nikolov

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