Monday, November 1, 2010

End of a Volatile month and lots of US data this week


It’s the first week of November and got to say October was an extremely volatile month. Are we going to see another volatile month?

Well let’s see first what went down at the end of last week.

US real GDP came out as expected and the Chicago PMI rise to 60.6 well above the consensus 58.0.

But we saw the dollar weaken against most of the currencies as investors looked ahead to the FOMC decision on November 3rd. A lot of data coming out of the US this week, so keep a look out and play carefully on the dollar.

Sterling strengthened further on Friday with the markets covering back more shorts before the MPC meeting on Thursday.

Data Today:
UK PMI manufacturing – 930am GMT
US ISM manufacturing – 2pm GMT
US personal Income – 12.30pm GMT
US personal Spending – 12.30pm GMT
US construction Spending – 2pm GMT

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