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Ben Robson's coverage of the trading week's most important market events.
The dollar rose significantly in today's trading following news of tax reforms announced this month as the dollar index rose from a daily low of 91.67 to currently trade at 92.38, while the USDJPY rallied to its highest level since August 16 at 110.68.
The UK inflation data came in with a surprise for the month of August, rising by more than expected, fueling the estimates for a possible action by the Bank before the end of this year.
US stocks rose broadly with the beginning of this week as Hurricane Irma was downgraded to a tropical storm, easing worries about its impact on economic growth. North Korea also refrained from any missile tests.
After last week’s lack of fundamentals and full of central banks events, another week comes with many economic releases and events, which likely to have a notable impact on the markets.
However, traders are advised to follow the political news, as the recent geopolitical tensions have been the main driver of the market, more than the economic releases.
This week the markets are looking at many important economic data that will have an impact on market movements. Below are the highlights of these events and data.
A week ago, the US Dollar Index completed one of its longest declining stake since 2002, posting six monthly declines in a row, which deepen the bearish outlook on the short and medium term.
In few hours, everyone will be watching two major events, including the European Central Bank decision, in addition to the ECB Chairman Mario Draghi Press Conference.
Today's events witnessed several important events and economic data that had a clear impact on market movements. At the top of these events, Bank of Canada's surprise decision to raise interest rates for the second time in a row this year to 1% in the wake of the previous meeting hike.
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