Get Ready For ECB Interest Rate Decision And US GDP Number

Get Ready For ECB Interest Rate Decision And US GDP Number

The US Dollar fell versus the Euro as a disappointment over stimulus may not send investors rushing into the world reserve currency.

U.S. President Donald Trump and Joe Biden participated in a restrained final presidential debate before the Nov. 3 presidential election. The final debate between the two presidential candidates was more restrained than the chaotic first debate, with the debate centering more on policy rather than personal attacks.

Looking ahead, the European Central Bank will announce its rate decision and forward guidance on Thursday. It will likely see policymakers debating whether the prospect of a double-dip recession means that more stimulus will be needed soon. We might see a response from ECB for the economic risk posed by the coronavirus threat. 

In addition to that, this week's calendar also features U.S. data on Gross Domestic Product, PCE Price Index, Durable Goods Orders as well as Crude Oil Inventories

Watch out for the US GDP Growth on Thursday. The US third-quarter gross domestic product is expected to come to a record rebound of 31.9%.

The Fed’s preferred measure of inflation, the core PCE index, which calculates spending minus volatile food and energy costs, arrives along with personal spending and income numbers from the Commerce Department Friday. The September core PCE is expected to come out at 1.7%, year on year basis.

Moreover, focus on the Consumer Price Index in the Eurozone. On a year-on-year basis, the Eurozone CPI is expected to be -0.3%. A lower than expected reading will be negative for the single currency.

26 Oct 20 (Mon)

06:18 am



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