Last week, the US dollar strengthened against currency majors.

The dollar index (#DX) updated monthly highs and closed in the positive zone.

Demand for the US currency is supported amid the prospects of further increase in the interest rates by the Fed, as well as optimistic economic reports.

Financial markets participants expect meetings of the Bank of Canada and the ECB.

In the upcoming trading week, we recommend you to pay attention to the following macroeconomic events and reports.

Monday, October 22nd

On Monday, the news feed will be calm. The publication of important economic reports is not planned.

Tuesday, October 23rd

On Tuesday, the news feed will be also quite calm.

At 9:00 (GMT+3:00) data on the German producer price index will be published.

Wednesday, October 24th

On Wednesday, the Bank of Canada will announce its decision on the key interest rate at 17:00 (GMT+3:00). Experts expect the regulator to raise the key interest rate by 25 basis points to 1.75%.

Important statistics:

• The index of business activity in the manufacturing sector in Germany at 10:30 (GMT+3:00);
• A number of indices of business activity in the Eurozone at 11:00 (GMT+3:00);
• New home sales in the US at 17:00 (GMT+3:00).

Thursday, October 25th

On Thursday, investors’ attention will be focused on the ECB meeting, at 14:45 (GMT+3:00).

It is expected that the Central Bank will keep the key marks of monetary policy at the same level.

Important economic reports:

• German IFO business climate index at 11:00 (GMT+3:00);
• Durable goods orders in the US at 15:30 (GMT+3:00);
• Pending home sales in the US at 17:00 (GMT+3:00).

Friday, October 26th

On Friday, the trading week will end with the publication of the US GDP report at 15:30 (GMT+3:00).