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The is stabilizing after last week's tumble following the October ECB rate decision as new catalysts are sought after. Upcoming Euro-Zone CPI and GDP releases on Tuesday could offer further reprieve. Meanwhile, the continues to tread water ahead of the BOE's November policy meeting this Thursday, when it is widely believed a 25-bps rate hike will be announced. Given that a rate hike is almost 100% priced-in, the forward guidance on future rate hikes will be the determining factor for the Sterling. Finally, the US Dollar is only down slightly on the day (via Index) as US Treasury yields have eased from multi-month (the 10Y) or multi-year (the 2Y) highs. The Fed rate decision this Wednesday is expected to be merely a placeholder.
: Monday, October 30, 2017 North American Releases
The remainder of the day on the North American economic calendar is fairly light, with four items left and all being ‘low' importance. Instead, traders should be keeping an eye tuned to the news wire, as it is very likely US President Trump will make his pick for the next Fed Chair at some point in the coming days before he leaves for his Asia diplomacy tour on November 3. Jerome Powell, a 2012 Obama-appointee to the Federal Reserve Board of Governors, is believed to be favored over current Fed Chair Janet Yellen.
: Monday, October 30, 2017
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by Christopher Vecchio, CFA, Senior Currency Strategist by Paul Robinson, Market Analyst by Paul Robinson, Market Analyst by Ilya Spivak, Senior Currency Strategist by Christopher Vecchio, CFA, Senior Currency Strategist The DailyFX US AM Digest is published every day before the US cash equity open - you can to receive this report in your inbox every day.
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