News & Analysis

FX market price action was broadly driven by inflation concerns yet again this week, with the release of October’s US CPI providing the catalyst for renewed volatility. Beyond that, the data calendar has been relatively light, pushing the emphasis of additional drivers into the political space. Rising tensions between the US and Russia kept RUB traders on their toes towards the end of the week, while a Times article pertaining to ministers de-escalating tensions with the EU over Northern Ireland prompted a relief rally in the pound. Next week, CPI remains top of mind as a number of nations are set to release reports highlighting above target price growth, however, we believe these releases will have less of an impact on broader markets relative to the US release this week. Additionally, central banks from South Africa and Turkey are expected to deliver fresh rate decisions, while meeting minutes from the Reserve Bank of Australia are also set for distribution.

Read Monex’s Week Ahead here:



Simon Harvey, Senior FX Market Analyst
Ima Sammani, FX Market Analyst



This information has been prepared by Monex Canada Inc., an execution-only service provider. The material is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is, or should be considered to be, financial, investment or other advice on which reliance should be placed. No representation or warranty is given as to the accuracy or completeness of this information. No opinion given in the material constitutes a recommendation by Monex Canada Inc., or the author that any particular transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research, it is not subject to any prohibition on dealing ahead of the dissemination of investment research and as such is considered to be a marketing communication.