During the Asian session, New Zealand will release the employment report, and RBNZ Governor Orr will hold a press conference following the presentation of the Financial Stability Report.
Australia's data includes the AiG Index and Building Permits. Later in the day, the ADP Employment report and the ISM Manufacturing PMI are due. The key event will be the FOMC decision and Powell's press conference. Here is what you need to know on Wednesday, November 1: The Federal Reserve concludes its two-day meeting on Wednesday, with market expectations for the central bank to maintain its monetary policy stance.
Analysts at Commerzbank on Euro area inflation: Most members of the ECB's Governing Council are likely to be pleased with the data. The ECB is unlikely to raise interest rates further. This is all the more true as the economy contracted slightly in the third quarter. GBP/USD reached 1.2200 and then turned downward, remaining below the 20-day Simple Moving Average . It closed around 1.2150, moving sideways near monthly lows. EUR/GBP reversed after hitting the highest level since May at 0.
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