Forex: highlights on the next week
Monday, September 23
Euro will be under the impact of German election which takes place on Sunday – the gains of the single currency at the end of the week limited ahead of this event. The ECB’s president Mario Draghi will speak at 13:00 GMT. Draghi is always at the center of the market’s attention. This time he’ll be even in more limelight than usually. The Federal Reserve didn’t start tapering its monetary stimulus on Sept. 18. While the Fed’s balance sheet is growing, the ECB’s one is contracting – this is bullish for EUR. The market will be watching whether Mr. Draghi will try to speak EUR down. In addition, don’t miss the PMI releases of the euro zone’s leading economies (07:00-08:00 GMT).
AUD, NZD: HSBC will release flash manufacturing PMI at 01:45 GMT and this will set the theme for the Asian session. According to the forecast, the index will increase from 50.1 to 50.9 (highest since March).
USD: Watch the US flash manufacturing PMI at 13:00 GMT. The figure keeps improving and is expected to reach the highest level since March (forecast: 54.2 vs. prior 53.1). FOMC member Dudley is scheduled to speak at 13:30 GMT. It seems that Bernanke has said enough on Wednesday, but who knows – may be Dudley will express a slightly different viewpoint.
More events will be added on Monday