Wednesday , 6 November 2024
Home Forex It’s squeaky bum time..
Forex

It’s squeaky bum time..

In the euro area, October CPI and Q3 GDP figures are going to dominate the agenda. And in the UK, there’s the budget announcement to go through. All that before we get into the stretch of jobs-related data in the US ahead of the non-farm payrolls report on Friday. And then, there’s the BOJ policy decision tomorrow and month-end rebalancing flows to consider as well. Oh, what fun.

It’s one of those times in markets when things might be a little tricky to decipher or make sense of. That with so many things happening as outlined above. Taking a step back and keeping a calm head is always a good tip, but easier said than done most of the time. However, it’s still something worth reminding.

Looking at how markets are playing out ahead of the hustle and bustle later, major currencies are keeping more muted. The antipodeans are down slightly, in part dragged by a softer yuan as well. Chinese investors don’t look too optimistic after the stimulus news yesterday. And Adam outlined why that seems to be the case here. The CSI 300 index is down 1% today at the lunch break now. PPT to the rescue?

Meanwhile, the bond market continues to stay in focus with 10-year Treasury yields briefly crossing over 4.30% overnight. It is back down to around 4.25% today but the threat of higher yields is still something to be wary of. If there is ever a spot, month-end flows will make reading the moves here fairly tougher.

Then, there is gold and Bitcoin which are rampaging higher as well. 🚀🌙

With plenty of moving parts in play, this will certainly keep market players busy in the days ahead. If not, at least we’ll get quite a number of headlines to move things along.

0730 GMT – France Q3 preliminary GDP figures0800 GMT – Spain Q3 preliminary GDP figures0800 GMT – Spain October preliminary CPI figures0800 GMT – Switzerland October KOF leading indicator index0855 GMT – Germany October unemployment change, rate0900 GMT – Germany Q3 preliminary GDP figures0900 GMT – Italy Q3 preliminary GDP figures0900 GMT – Switzerland October UBS investor sentiment1000 GMT – Eurozone Q3 preliminary GDP figures1000 GMT – Eurozone October final consumer confidence1000 GMT – Eurozone October economic, industrial, services confidence1100 GMT – US MBA mortgage applications w.e. 25 October1300 GMT – Germany October preliminary CPI figures

The UK budget announcement is expected at around 1230 GMT but there might be leaks to the details in the run up. So, keep an eye out for that.

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.

This article was written by Justin Low at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Eurozone September PPI -0.6% vs -0.6% m/m expected

Prior +0.6%Looking at the details, most of the drop comes from energy...

The race for control of the House is playing out accordingly for the most part thus far

The NYT projection has Republicans with 194 seats and Democrats with 173...

Crypto Cities: Futures vs. Options in Crypto Markets

The cryptocurrency market is evolving rapidly, and with it, advanced financial instruments...

UK October construction PMI 54.3 vs 55.5 expected

Construction PMI 54.3 vs 55.5 expected and 57.2 prior.Key findings:Civil engineering remains...