Another important central bank week

Frank Walbaum FX Strategies.Asia

Important news for the week

Mon, 23rd, 09:30 CET DE German Manufacturing PMI.
Tue, 24th, 06:30 CET AU RBA interest rate decision.
Thu, 26th, 09:30 CET CH CH interest rate decision.
Fri, 27th, 14:30 CET US PCE deflator.

Another central bank week

Also this week will set the tone for further central bank price action. The RBA from Australia will decide upon their interest rate moving forward. No change is expected and rates might remain at the 4.35% mark. The Aussi might face some volatility during the news event in general. On another note the Swiss National Bank might decide to reduce rates to the downside. It is expected that the interest rate will be adjusted down to 1.00% from currently 1.25%. The USDCHF keeps bouncing off the current support zone based on the daily chart.

Market talk

Over the course of the week also more news events might cause a volatile time ahead. Today the Flash manufacturing pmi data from Germany came in worse than expected. In the meantime the EUR had lost some steam and the Dollar was able to capitalize on it already. Current moves might extend momentum should the strength of the Greenback remain in place. Furthermore Bitcoin keeps moving higher and also ETH is rising. Ether had broken the 50- moving average based on the daily chart, which might indicate more upside momentum.

Tendencies in the markets

Equities sideways, USD stronger, cryptos positive, oil sideways, Silver correcting, Gold correting, JPY weaker.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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