Credit Agricole CIB FX Strategy Research notes that central banks minutes and data releases will likely provide welcome distractions from geopolitics in the coming week and could allow sentiment to stabilize.
“The FOMC Minutes could provide greater detail of balance-sheet discussions and more USD volatility.
The ECB’s July meeting also surprised in terms of what was not discussed – the timing of a tapering announcement, the EUR and inflation, and any potential changes to QE forward guidance. The EUR’s rally gathered further steam thereafter, so the account of the ECB meeting will be important for the EUR.
The RBA Minutes will struggle to offer investors new information post the SoMP and Governor Lowe’s testimony.
The BoE’s Inflation Report was dovish. UK Retail sales, labour and inflation data will be important in gauging whether this dovishness is justified,” CACIB notes.
Source: Credit Agricole CIB Research
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