The week and new month starts with two primary points of interest. The first is the oil price, which slumped last week, with further weakness being seen in the early part of this week. Energy price falls are normally seen as a generally positive development, but at this stage, with inflation still low (and sometimes negative) in many developed economies, the timing is far from perfect. Even in the US, forward inflation expectations (5Y5Y breakeven rates) are at the lowest level for the year to date. The hope is that the offset for consumers (more income to spend elsewhere) provides some relief for those economies that need it. The other focus is with Switzerland and the rejection of the weekend referendum proposal to increase the SNB’s gold holdings to 20% of reserves. In the past couple of weeks, this development was anticipated by the movement in polls, but we’ve nevertheless seen a sigh of relief on the part of gold which has traded lower. The euro was also higher at the start of the Asia session, because euro sales would have had to be made to re-balance reserves, but dollar strength has since taken hold to push EURUSD towards the 1.2420 level in the early part of European trade. For this week, early focus today is with the final PMI numbers in Europe, together with data for the UK. US ISM data is seen at 15:00 GMT, with the UK focusing on the ‘autumn’ budget statement on Wednesday. Naturally, US jobs data on Friday will be the primary data focus overall, with the dollar starting the month near the highs for the year on the dollar index. Further reading: RBA Rhetoric To Lubricate Further AUD Slide This Week – Credit Agricole UK Manufacturing PMI at 53.5 – ticking up FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next JPY ready to strengthen, EUR/USD could go south – Gregor Horvat 8 years The week and new month starts with two primary points of interest. The first is the oil price, which slumped last week, with further weakness being seen in the early part of this week. Energy price falls are normally seen as a generally positive development, but at this stage, with inflation still low (and sometimes negative) in many developed economies, the timing is far from perfect. Even in the US, forward inflation expectations (5Y5Y breakeven rates) are at the lowest level for the year to date. The hope is that the offset for consumers (more income to spend elsewhere) provides… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.