In the euro area, ECB president Mario Draghi will testify before the EuropeanParliament’s Economic and Monetary Committee at 15:00 CET. In addition, ECBchief economist Peter Praet will today participate in a panel discussion about thefuture of the global monetary system in Berlin starting at 12:30 CET.
In the US, the main event today is the release of existing home sales for August.Recent data suggests that the headwinds from the housing market earlier in the yearhave eased considerably and we expect existing home sales to have improved furtherin August, reaching its highest levels since September last year.
In the US, New York Fed president William Dudley will also be speaking at 16:05in connection with an interview with Bloomberg.
In the week ahead, the most important event will be euro and Chinese flash PMIstomorrow, German IFO on Wednesday and euro money supply and credit on Thursday. There is no important news due out of Scandi today.
Read the full report: FX Daily