courtesy dailyfx:
UK – The UK calendar will remain relatively quiet in the days ahead, with few noteworthy reports due until next week’s Bank of England Minutes from its most recent meeting. In the meantime, Rightmove House Prices have an off-chance of forcing volatility in GBP pairs. Given a clear focus on housing performance, traders may look to trade off of any particularly large surprises in the result. Otherwise we will look to the BoE minutes to drive major moves in the GBP. The later second revision to GDP may likewise bring some volatility to Pound pairs, with any significant revisions to potentially shift sentiment for future growth.
US – The US economic calendar is limited to relatively second-tier economic data for the coming holiday-shortened week, except to note the key release of Minutes from the October 31 FOMC meeting. All eyes will turn to the Fed text to gauge the likelihood of a further interest rate cut at the central bank’s December 11 meeting. Today’s speech by Fed Governor Richard Kroszner suggests that we will see a much more hawkish text than current interest rate expectations have priced in. As such, it will be very important to watch how rate expectations shift in the wake of the report—especially as it is likely to drive large moves in the US dollar.
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