The results of the presidential elections in the United States surprised Forex market traders. Now, awaiting the events of relevance in the week on the schedule, traders anticipate complicated numbers.
After a catastrophic week, fraught with controversy and lawsuits for electoral fraud on the part of the Republican Party, Joe Biden is the 46th president of the United States of America. Thus, a reality that Forex market traders feared materialized.
How will this electoral result affect the Forex market?
Forex events in the United States for the week
The declarations of the president of the Federal Reserve for next Thursday, is the most relevant event for this week in the United States. Put simply, this could drastically affect the performance of the dollar, causing it to bleed further into the market.
Jerome Powell will go to the country, announcing the new economic stimuli to be carried out. This to drive economic recovery. However, they must speed up the processes, because, once Joe Biden takes office, the future of the stimuli and the economic measures to be taken will change in the country.
In addition to this, the consumer price index will be updated on Thursday as well. This index will be the reflection of consumer prices, which account for the majority of headline inflation.
It is worth mentioning that the dollar will face a turbulent week due to the uncertainty that Joe Biden’s victory will generate.
Events of Forex relevance for the UK
For this Monday, the president of the Bank of England will provide statements, a relevant event that is important for Forex market traders, and where sterling traders should pay attention, as he will announce the new economic packages to be carried out in the United Kingdom. United.
Likewise, he will explain the new measures taken regarding the printing of 150,000 million pounds sterling, carried out as an economic recovery plan for the region.
In addition to this, on Thursday the updated figures of the gross domestic product (GDP) of the United Kingdom will be published. This event is important, as traders and analysts expect these figures to be truly worrying given the difficult year the UK has had.
Europe faces a second round of economic shutdowns due to COVID-19
Europe is once again the region most affected by the coronavirus just one month after the year 2020 ends. A second wave of breakouts threatens a critical euro crash in the Forex market. In turn, the most affected countries are once again taking radical blockade and quarantine measures.
Likewise, on Monday, the governor of the Central Bank of Europe will announce whether the economic packages will be extended. This now that the crisis seems to increase in the region. In this way, this is an event that euro traders should be under scrutiny.
All the events compiled in this summary were obtained from the Forex Factory schedule. For more weekly counts of events of interest to the Forex trader, visit the EnQuéInvertir website.