Monday, October 31 is both the first trading day in the week, as well as the last session of the month. In the US we have Halloween madness, but we carefully look upon markets eager to find the answer to the question: What to focus on while trading?

The beginning of the week is not successful for all having long positions in NZD. The New Zealand dollar is one of the weakest currencies this day. But looking at the charts, we see that the declines in NZD / USD reached only 18 pips – it once again confirms that Mondays are usually treated as a kind of start-up before the next part of the week:nzdusddaily-2-696x3392x

From the night macro data should be mentioned New Zealand report on activity in the business. ANZ index fell to 24.5 against 27.9 previously published.

What are we waiting for?

First of all, in today’s trading we should keep in mind the RBA decision on the Australian interest rates. It will be known on Tuesday (4:30 am), but market commentators already pay attention to the positioning of investors having this data on mind. Mentioned at the beginning the decline of NZD can therefore be explained by AUD / NZD rising from the start of trading:
During Monday’s session, we should also keep in mind the large number of readings related to the change in consumer inflation. Already at 11:00 we will know the Italian CPI as well as the cumulative CPI for the whole Eurozone. At the same time, will be published the report on developments in European GDP in the third quarter of this year. All of the above reports, however, are estimates.

About 13:30 we will follow the publication of PCE index, additionally a report on personal income and spending in USA. Parallel, will be published index of Canadian RPMI. Fifteen minutes before 15:00 we will know the final value of the Chicago PMI for October. Market forecasts point to a slight decrease in rate from 54.2 to 54.0.

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