This week is shaping up to be quite busy for our traders from the very onset. Here is a quick list of things that may prove important in your trading decisions today.
In terms of the euro, bear in mind that there was a referendum in Spain, where Catalan citizens voted for their independence with a 90% in favor result. However, the independence vote is not recognized by Spain (the state has continuously maintained that Catalonia will remain a part of Spain) and there were violent clashes. Catalonia is expected to announce its independence despite Spain’s opposition in the next few days. This conflict has dragged the euro 0.8% against the dollar and has made investors turn away from any Spanish stocks.
In the meantime, the American dollar is rising together with treasury yields due to a strong expectation of an interest rate increase this December. The dollar index climbed to 93.45, and bond deals were up.
Trump is also giving an important speech today regarding regulation on businesses. He is expected to speak at 3 pm (GMT). This may cause some volatility in USD pairs.
