Weekly outlook – Two central banks reporting and jobs finish the week – 29th October
The slowdown in world growth forecasts has been the catalyst for a move to safety. We have a busy week ahead in terms of economic data plus two central banks holding policy meetings.
Italy remains a thorn in the side of the euro as traders are selling into rallies. Traders will be watching carefully at the Eurozone prelim GDP data. It is expected that this may reflect the slow down in growth we have seen in some of the constituent reports out last week. The inflation data will also be watched carefully. Weakness in both sets of data could be the perfect storm for a kick down further.
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