The session is not over yet for AUD and NZD traders, who will be at the center of volatility throughout the overnight session.
AUD traders will have to monitor the Australian CPI numbers, releasing this evening at 20:30 ET.
However, the evening will really heat up with the RBNZ Interest Rate Decision at 21:00 ET.
A 25 bps cut is expected (bringing rates to 2.25%), but the real mover will be the forward guidance in the Statement and Press Conference—markets are anxious to see if the easing cycle is nearing its end.
Tomorrow’s session (Wednesday) should also be quite eventful after tonight’s central bank action.
The overnight session will turn eyes towards Europe, where the focus will be less on data and more on policy rhetoric.
ECB President Lagarde is scheduled to speak at 13:00 (ET).
The US Session should be even more active, quenching the thirst for data before the Thanksgiving holiday break.
The first moves will come from the Durable Goods Orders (Sep) at 9:30 A.M. ET.
Simultaneously, the weekly Initial Jobless Claims, released a day in advance (expected at 225K) will provide the latest pulse check on the labor market.
Later in the morning, the Chicago PMI follows at 10:45 A.M., and the day rounds out with the Fed’s Beige Book at 15:00, offering anecdotal evidence on economic conditions across the districts.
Safe Trades!
Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier
