Summary of the most interesting economic events from the trading week of October 30 - November 5, 2023

Welcome to our regular recap of last week's fundamentals. It was a busy one. Let's recap the highlights together.

EUR

From the euro area we watched incoming data during the week, which in total came out negative for the euro. According to Tuesday's preliminary estimates (GDP), the euro area economy contracted by 0.1 % quarter-on-quarter.

GBP

One of the things the market was waiting for was Thursday's Bank of England meeting. The central bank left its key interest rate at 5.25 % for the second consecutive day.

USD

From the US, our primary focus last week was on the Fed meeting and incoming inflation data. The Fed left rates at their 22-year high for the second consecutive week.

CAD

As for August, the Canadian economy stagnated.

NZD

Tuesday's data from the New Zealand labour market also showed a decline

JPY

At the end of the month, we could hear encouraging news from the Bank of Japan that a change in monetary policy was being considered.

What's in store for the current trading week?

This week is going to be a lot leaner, so we're going to rest a bit.

PMI numbers from Japan, the eurozone and Canada will be released on Monday. We will focus our attention mainly on Tuesday's meeting of the Reserve Bank of Australia (4:30), which could see a 25bp rate hike.

Sources:

https://www.investing.com

https://www.forexlive.com

Want to read a complete summary of economic events?

Objev F.X.C.G. Discord EMPIRE

Vstup s námi do světa tradingu

Získej přístup k exkluzivnímu obsahu od traderů z Trading Flooru i k materiálům, které ti usnadní každodenní obchodování. To všechno najdeš v FX Trading Zone – uzavřené části F.X.C.G. Discord EMPIRE. Podívej se, co na tebe čeká:
More information
en_GBEnglish
linkedin facebook pinterest youtube rss Twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube Twitter instagram