Tuesday starts off with a speech from ECB (European CentralBank) member Elizabeth Mccaul at 10am. Could we hear something that willindicate a more detail plan for ECB moving forward with their monetarypolicies? Overall, EUR has been outperformed in the last couple of weeks – particularto the USD.
Since Friday we have seen both GBP and EUR consolidate on themarkets against the USD. EUR/USD dropped to 1.0335 on Friday, being a 2-yearlow. It’s stabilised since and is currently hoovering around the 1.05-mark.
For later today focus is on the US with several economicdata releases and an announcement with the FOMC minutes. Starting off at 2pm,we have a combination of consumer confidence, housing prices and new homesales. Expectations is that US consumer confidence will increase in November upto 111.6, indicating that after the US election – confidence is now growingfrom a consumer point of view. At the same time house prices and new home salesare expected to be unchanged from its previous month. With USD recently takingadvantages to its peers – this should not lead to much fluctuations on markets.
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