FX markets likely to get a calm start to the week – Danske Bank

FX markets are likely to get a calm start to the week today with no major releases in the data calendar unless there are any sudden announcements from US President Trump, according to analysts at Danske Bank.

Key Quotes

“The key events of the week will be ECB President Mario Draghi’s speeches on Wednesday in Germany and later in the week at the Jackson Hole symposium. We look for Draghi to take a dovish stance on the outlook for ECB monetary policy, which could send EUR/USD to the low end of the current 1.15-1.20 trading range. Oil prices finished strongly on Friday, with the price on Brent crude nearing the USD53/bl level. Data showed a fall in the US oil rig count, which added support to oil prices. While we do not see further upside in oil prices in the short term, the positive momentum could carry over to NOK today.”