Busy week ahead, Brexit & Fed announcement the highlights…
It’s another action-packed week with something for each major currency to be aware of. Domestically, Brexit will be the main issue to focus on. Importantly, the EU are expected to make a decision on how long to offer the UK on the latest extension request. The most likely outcome is an extension to the 31st January 2020. Outside of this, there’ll be a crucial vote in Parliament today concerning the prospect of a December general election. PM Johnson has proposed a snap-election in return for Parliament to have more time to scrutinise his Withdrawal Agreement Bill. It’s now down to MPs to decide whether they’re all brave enough to once again allow the public to decide if they’re fit to represent them.
From the US, the Fed announcement will be the main focus on Wednesday. It’s widely expected they’ll lower rates for the 3rd time in as many meetings. However, many will be paying close attention to see whether they’ll signal further cuts. Economic data-wise, the latest monthly jobs report will be released on Friday. Additionally, an update on Q3 GDP will also be on the agenda.
From the Eurozone, inflation and the latest snapshot of GDP are set for release. This comes as Mario Draghi hands over the reins to Christine Lagarde at the ECB. Elsewhere, rate decision will be seen from Japan and Canada.
Written by Viv Savani. 8:59am, October 28th 2019
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