Last week was marked by significant economic events that played a key role. The most prominent of these events were the meetings of several central banks. At the beginning of this week, it is heading to meetings of other central banks and some central bankers' speeches. Let's review together the highlights of the upcoming economic data.
• Australian Interest Rate Decision.
• ECB Governor Draghi speech.
• Bank of Canada governor, Stephen Poloz speech.
• US Federal Reserve president Yellen speech.
• Trade Balance in China.
• New Zealand interest rate decision.
• Chinese inflation data.
• British manufacturing production data.
Australian Interest Rate Decision:
Markets are looking ahead to tomorrow's Australian interest rate decision. Most expectations come in favor of the Reserve Bank of Australia keeping interest rates unchanged at 1.50%. But what will affect the movements of the Australian dollar against its rivals the statement of interest associated with the decision, which will explain the direction and vision of the members of the bank in the coming period.
ECB Governor Draghi speech.
Draghi is due to deliver an opening address at the ECB's banking sector forum in Frankfurt, Germany. If Mario Draghi touches on monetary policy, the euro is expected to see a significant change.
Bank of Canada governor, Stephen Poloz speech.
He is scheduled to talk about the pace of growth of inflation and economic developments in the Chartered Financial Analyst Society of Montreal and the Montreal Council on Foreign Relations. He is scheduled to receive questions from the attendees.
US Federal Reserve president Yellen speech.
On Tuesday, the markets are also looking for Janet Yellen's speech in Washington, which is expected to have a significant impact on the US dollar's trading against most of the majors if she touches on monetary policy and the bank's direction for the coming period and how well the US economy improves at a pace that supports continued rate hikes.
China Trade Balance:
On Wednesday morning, markets are eyeing China's trade balance data in October. The trade balance surplus is expected to widen from 193 billion to 275 billion yuan as the US dollar trade surplus widens from 28.5 to 39.5 billion dollars.
New Zealand interest rate decision:
The Reserve Bank of New Zealand is expected to prefer to keep the interest rate unchanged at its November meeting at 1.75%. The decision comes accompanied by a statement of interest rate and monetary policy statement followed by the press conference of the Governor of the Bank Graeme Wheeler commenting on the decision that was taken and determine the intentions of the bank for the coming period.
Chinese inflation data: -
China's consumer price index is expected to rise by 1.7% in October from 1.6% previously. On the other hand, producer prices are expected to rise by 6.6%.
British Manufacturing Production Data:
markets are awaiting to see manufacturing production in the UK during September, where growth is expected to slow 0.3% from a previous 0.4%.
