Economic calendar: Quiet start to a busy week

Summary:
- New York Empire State Index seen dropping in June
- ECB Forum on Central Banking starts today in Sintra, Portugal
- Watch Airbus (AIR.FR), Boeing (BA.US) and other planemakers as Paris Air Show kicks off

As it is often the case for Mondays, today's economic calendar looks quite empty with just a few readings scheduled. The Polish core inflation for May will be released at 1:00 pm BST. The reading is expected to show price growth remaining intact at 1.7% YoY. The New York Empire State Index for June will be published later on (3:00 pm BST) and is expected to come in at 12.7 pts, lower than 17.8 pts seen last month. Apart from that, a few interesting events begin or take place today. Firstly, the ECB Forum on Central Banking begins today in Sintra, Portugal. The event is attended by many central bank governors, scholars as well as other market participants and focuses on key monetary policy issues. Mario Draghi, the ECB President, will deliver an opening speech today at 6:00 pm BST. Elsewhere, the world famous Paris Air Show kicks off today. The event is often abundant in announcements of new multi-billion aviation deals and, in turn, has a scope to move share prices of companies like Boeing (BA.US) or Airbus (AIR.FR). The event will last until the end of the week. There are no central bankers’ speeches scheduled for today apart from the one from Draghi we have already mentioned. However, monetary policy enthusiasts have little reason to complain as this week will see rate decision announcements from BoE, Fed, BoJ and Norges Bank.

EURUSD plummeted on Friday and tested the 1.1200 handle. The pair halted decline at the 50-session moving average (green line on the chart above) and saw little movement so far this week. The pair is likely to be subject to elevated volatility on Wednesday evening as the Federal Reserve will announce its rate decision. The nearest resistance can be found at 1.13 handle while 1.1185 handle should serve as the next support in case the pair breaks below the aforementioned moving average. Source: xStation5

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Morning wrap (27.11.2020)
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