BoE Decision Eyed
At 7:00 AM Bank of England Policy Decision (exp 5.00%, prev 4.75%) At 8:30 AM US Weekly Jobless Claims (exp 315k, prev 327k) US September Trade Balance (exp -$65.7 bln, prev -$69.9 bln) Canada September Trade Balance (C$3.4 bln, prev C$ 4.2 bln) At 9:45 AM November University of Michigan Consumer Sentiment (exp 93.4, prev 93.6)Foreign exchange remains locked in familiar ranges in spite of the US mid-term elections and continued jawboning from global central bank officials. The greenback hovers on a soft tone against the majors near 1.2760 versus the euro and 1.9040 against the pound sterling. The session ahead will see several economic events that could potentially push the major pairs away from its range, with the key highlights seen as the Bank of England’s monetary policy announcement at 7:00 AM New York time and the US September trade deficit due out at 8:30 AM.
US economic reports include weekly jobless claims, September trade deficit and the November University of Michigan consumer sentiment report. Jobless claims are forecasted to slip to 315k, from 327k a week earlier. The September trade deficit is seen shrinking to $65.7 bln, down from the record $69.9 bln from August. Lastly, the November University of Michigan consumer sentiment is expected to slip marginally to 93.4 from 93.6 a month earlier.
posted by Kalin Tasev @ 2:42 AM
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