October ends with a busy roster of events

The past week once again saw French fiscal risks continuing to worry markets, against the backdrop of a somewhat quieter US data calendar. While the euro suffered, predictably, the dollar was not left unscathed either, as concerns around AI-exposed equities weighed against the buck’s usual haven traits, with the yen and the franc left to reap the benefits. Also making gains, somewhat to our surprise, was sterling, despite an upcoming Autumn Budget. But more acute worries elsewhere have distracted attention from the UK’s own troubles, while a raft of domestic data largely exceeded expectations, helping to shore up BoE hiking odds.

Looking ahead, the week coming up is set to be a busy one. Monday should see markets digesting the results of Sunday’s Presidential election run-off in Brazil, which Flávio Bolsonaro currently looks on track to win. Later on, traders will see an Australian CPI release, accompanied by rate decisions from the RBNZ, BoC, Fed, ECB, BoJ, while the UK budget should be the main event. Plus, with French fiscal concerns yet to be allayed, and conflict in the Middle East still ongoing, the week ahead promises plenty of risk events to watch for, and likely a decent dose of FX volatility to round out the month.

You can read the Week Ahead in full here:

Authors:

Nick Rees, Head of Macro Research

Barry van der Laan, Senior FX Market Strategist

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