As we noted early on Tuesday, there’s not much hitting the wires in terms of actionable economic news (beyond the slight negative, but still better-than-expected revision to Q3 US GDP data), so we wanted to revisit one of the forex market’s strongest correlations: the relationship betweeneuro/dollar and dollar/Swiss franc currencies pairs.
After some classic minimal data consolidation in the forex markets last week, traders are eagerly awaiting some top-tier economic reports (and hopefully accompanying volatility) this week. The first of these key reports, the U.S. October Consumer Price Index (CPI), was just released.
The Fed Open Market Committee will meet this week to discuss monetary policy and the possibility of the first U.S. rate hike in years. With dovish sentiment dominating the global dialogue of central banks, keep an eye on additional policy meetings from Sweden's Riksbank, the Reserve Bank of New Zealand and the Bank of Japan.