FX WEEK AHEAD OVERVIEW:
- The first week of September will bring back trading volumes amid a steady stream of important data releases and events. The September Bank of Canada meeting and the August US nonfarm payroll report are top billings.
- A key Brexit vote in the UK parliament on Tuesday, September 3 could shape tone for the rest of the week; developments in the US-China trade war talks retain the same type of potential.
- Retail trader positioningsuggests that the US Dollar[2] will continue to do well in the days ahead – even if gold[3] and silver prices[4] are expected to rally too.[1]
Join me on Mondays at 7:30 EDT/11:30 GMT for the FX Week Ahead webinar, where we discuss top event risk over the coming days and strategies for trading FX markets around the events listed below.[5][6]
09/03 TUESDAY | After 21:00 GMT | GBP Brexit Vote in UK Parliament
The Brexit saga is cresting. With UK Prime Minister Boris Johnson’s prorogation of parliament enraging MPs, the political body will meet on Tuesday to try and take back control of the Brexit process. A vote on Tuesday afternoon will determine whether the UK parliament will control its own schedule; if the vote fails, the prorogation will begin as early as September 9, effectively sidelining parliament for the rest of the Brexit process. But if the vote passes, then it’s entirely likely a series of steps leads to a no confidence vote in UK PM Johnson, and perhaps ultimately a snap general election. Traders should be anticipating a high degree of volatility across the GBP-crosses.
09/04 WEDNESDAY | 01:30 GMT | AUD Gross Domestic Product (2Q)
According to a Bloomberg News
