EUROPEAN SESSION

In the European session, we don’t have much on the agenda other than a couple of low-tier releases like the Swiss current account and Spanish balance of trade. The data won’t change anything for the respective central banks, so the market reaction will be muted. The price action might stay mostly rangebound as traders await Trump’s speech at the UN General Assembly and the meetings with global leaders.

AMERICAN SESSION

In the American session, we have lots of Fed speakers today but the focus will be on the UN General Assembly. Trump is expected to deliver his speech around 13:30 GMT/09:30 ET and the meet with many global leaders. The most important meetings for the markets are those with Gulf leaders and potentially the Iranian delegation. 

The markets will be focused on de-escalation headlines as that would keep downward pressure on oil prices, easing inflation and rate hikes concerns. Hawkish remarks or comments suggesting a possible re-escalation, on the other hand, would likely send oil prices much higher and weigh on general risk sentiment. 

CENTRAL BANK SPEAKERS

• 08:30 GMT/04:30 ET – ECB’s Nagel (hawkish – voter)
• 12:30 GMT/08:30 ET – ECB’s Sleijpen (neutral – voter)
• 14:05 GMT/10:05 ET – Fed’s Williams (neutral – voter)
• 14:10 GMT/10:10 ET – ECB’s Simkus (hawkish – voter)
• 14:20 GMT/10:20 ET – Fed’s Jefferson (neutral – voter)
• 17:00 GMT/13:00 ET – Fed’s Barkin (neutral – voter)
• 19:30 GMT/15:30 ET – ECB’s Nagel (hawkish – voter)

This article was written by Giuseppe Dellamotta at investinglive.com.



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