Fundamentals to watch out for this week

This week is a filled with volatility risks, both in terms of data and events.

What to watch for over the coming days:

• Central Banks:

Bank of England (BoE) will announce results of its stress test on Tuesday. Bank of Canada (BoC) will release its Financial System Review on Tuesday. Reserve Bank of New Zealand (RBNZ) will release Financial Stability report on Tuesday. The US Senate Banking Committee on Tuesday will hold a confirmation hearing for Jerome Powell, US president Donald Trump’s nominee to succeed Janet Yellen as Fed chair.  Federal Reserve chair Janet Yellen is scheduled to testify on the economic outlook before the Congressional Joint Economic Committee in Washington on Wednesday.

• OPEC meeting:

OPEC and N-OPEC producers are set to meet on Wednesday at the OPEC headquarter in Vienna to decide the future of the oil production cut agreement that was commenced first in November 2015. Insiders say that the deal is likely to get an extension with Russia and Saudi Arabia’s blessing.  

• US GDP:

Markets will receive an update on the health of the US economy on Wednesday with revisions to third quarter growth figures. Economists surveyed by Reuters expect growth figures to be revised up to 3.2 percent.

Along with the above fundamentals, unscheduled Brexit commentaries, happenings in the Middle East, Spain’s Catalonia, and Korean peninsula are likely to keep influencing the market.

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