9 Important Forex News Market Focus This Week (October 26-30, 2020)

 Here are some important economic data that will be the focus of the market throughout the week.


German Business Climate Survey (Monday 5.00 PM): Business surveys in Germany have shown an increase of 5 consecutive months previously despite still facing the risk of viral transmission in Europe's largest economy. Survey readings for October are expected to remain stable.


US Consumer Confidence Data (Tuesday 10.00 PM): A review of consumer finances based on spending and economic activity will signal the current health of the US economy.


Australian Inflation Data (Wednesday 8.30am): The consumer price index report in Australia for the second quarter has declined to 1.9%, the first decline since 2016. However for the third quarter inflation reading is expected to bounce back to 1.5%.


Central Bank of Canada Policy Meeting (Wednesday 10.00 PM): The Bank of Canada (BOC) is still expected to keep interest rates at a low of 0.25%. However, a follow-up statement by the central bank will be an important signal for investors to trade Canadian dollars.


Japan Central Bank Policy Meeting (Thursday): The reading of economic data in Japan is showing recovery after the post of Prime Minister has changed hands. The central bank is expected to continue to maintain a loose policy with interest rates at -0.10% expected to remain unchanged.



US GDP Growth Data (Thursday 8.30pm): Preliminary reading of US Gross Domestic Product (GDP) growth for the third quarter will provide important signals for the market. Reading increases are expected compared to the previous quarter.


European Central Bank Policy Meeting (Thursday 8.45pm): The central bank is expected to keep interest rates unchanged at zero while the focus will be on speeches by President Christine Lagarde. Any discussion of the Euro exchange rate will affect the movement of the currency.


European Inflation Data (Friday 6.00 PM): The decline in inflation continues to be a concern for policy makers. The consumer price index has declined for 2 consecutive months with the expected decline in October.


Canadian GDP Growth Data (Friday 8.30pm): In July, GDP growth slowed to 3.0%, down from a reading of 6.5% the previous month. The latest reading for August will drive the direction of further price movements.