The beginning of October was turbulent, so this week investors must be happy if there will be fewer reasons to increase the volatility. However, there are enough reasons for movements in the macroeconomic calendar, as well as in the list of foreign policy events.
EUR/USD: all attention to the minutes of the Fed
For the EUR/USD, there is going to be at least one interesting event on the market. In the middle of the week, the US Federal Reserve System is publishing the minutes of the September 18th session, when the decision about decreasing the interest rate was taken. Three members of the monetary commission are known to have voted against the decrease in the cost of crediting. For now, it is not that important who it was, in the minutes, investors are going to look for the hints on further decisions of the Fed. If there are any signs of the Fed's plans to decrease the rate again this year, the dollar will get under pressure.
Crude Oil: OPEC and OPEC+ will have a technical meeting
On Friday, October 11th, OPEC and OPEC+ monetary committee will have a meeting. Normally, at such meetings, they discuss technical issues: the current parameters of oil recovery yet unknown to the market, recovery to demand ratio, and certain peculiarities of producer countries. If by the end of the meeting some new details come to the surface, oil volatility must increase. The probability is not too high, but the data is worth paying attention to.
USD/JPY: the interest remains high
Last week, the USD/JPY pair decreased significantly, and investor interest remains high due to the doubts of the market in the US macrostatistics. Japan itself publishes the data on new orders in the machine industry, the producer price index, and the volumes of bank lending, as well as the average wage and the balance of payments. All this is unlikely to influence the yen, but the data on household spendings as a leading inflation indicator may reverse the USD/JPY movement.
GBP/USD: Brexit is complicated
Every week we go on speaking about GBP/USD being very sensitive to any news connected to the process of Britain exiting from the EU. The new week will be no exception, and the key discussions will be connected to the Ireland border. Earlier, the parties spoke about some progress in the sphere but no comments followed. If the pause lasts for too long, the pound will fall again.
Apple: stocks are ready to renew the peaks
This week, Apple securities may renew price maximums thanks to the market rumors about phenomenal demand for the new iPhone 11. Normally, the company is very cautious about the volumes of orders, but one of these days it has notified the suppliers about an increase in the demand for the product by 10% average, which is some 8 million units of the smartphone. On Friday, the stocks cost $226.94, and the new goal of the bulls is at $230.