This week is going to be pretty boring on the data front as the calendar is kind of bare. Today the only notable event was the PBoC rate decision and the central bank surprised with cuts across many key benchmarks.
We won’t hear from Fed speakers until the FOMC meeting next week as they are in their blackout period. We might hear from some ECB speaker though, but they will likely repeat the same thing, that is they might cut in September if the data cooperates.
The price action will likely be driven by the recent Biden’s dropout from the presidential race and the PBoC’s rate cuts. Wish you a profitable week!
This article was written by Giuseppe Dellamotta at www.forexlive.com.
