Tuesday 21st of October, minor fluctuation is expected on major currency pairs on the markets. But Swiss and British announcements could have significant effect on currencies. And most of the activity should take place in the morning. At 10:00 AM, the Swiss trade balance results will be declared. Positive numbers show that exports dominated imports, which is a good sign for the Swiss economy. A significant growth is expected with 2.49B but results below that level even though higher than before are likely to affect the CHF bearishly. At 12:30 PM, British results concerning Public Finances and the Public Sector Net borrowing will be released. The Net Borrowing is the amount of new debt held by the British government. And a positive number is expected which reflects deficit in the UK account which is unfavorable for the economy. But a result below expectations could affect the GBP positively and conversely. At 18:00 PM, the American Existing Home Sales changes are expected. A positive change of 1.0% is forecasted which shows growth in the housing sector. This sector is very important in the American economy thus the economy is likely to grow but if results fail to meet forecasts this would hurt the economic activity and the USD or conversely. Finally, at 20:00 PM, governor of the Swiss National Bank will hold a speech in Geneva. If a hawkish tone is detected the CHF could witness a rally or decline significantly if Zurbuegg holds dovish intentions.
Posted on: Tue, 21 Oct 2014 06:18:26 +0000
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