This week's big numbers will be the most important.

Last week the market for foreign exchange and precious metals was largely shrouded in speeches by successive major central bankers, and eventually left the market with an unsolved mystery.

In the case of the Fed, when will it begin to shrink QE? If you believe in Bernanke and Yellen, it seems far away, and if you look at the Fed's October minutes alone, it seems to be in the offing.

Similarly, http://www.aliyun.com/zixun/aggregation/39048.html "> Will the ECB be taking a negative interest rate policy next?" If so, when will it be taken? There are also disagreements in market rumours and in Oban officials ' speeches.

Therefore, although the current market has been approaching the year, into the traditional news of the off-season, but this winter, the market may not be doomed too calm.

The new week has come, although the central bank's meetings and speeches are few, but the release of important economic data from many countries may still be the market's attention. Since last week's central bank officials ' speeches, investors were unable to find more signals or even to go astray. So let's get this week's economic data to the end of the answer.

Last week's news-side inventory: Four central banks left two big suspense, two big signals

Suspense One: When does the Fed shrink QE?

If you look only at the minutes of the Fed's October meeting released last week, the previously vague fed QE process seems to be beginning to become clearer, albeit slightly divided at the exact time, but overall Fed officials generally support a reduction in QE between December and March this year.

But if you look back at the remarks of former Fed chairman Ben Bernanke and future president Yellen, investors seem unable to be too sure. Mr Bernanke said in Wednesday that the Fed would only start to slash the size of its bond purchases only if it was convinced that the job market would continue to improve. And Yellen is still convinced that the debt-purchase plan contributes significantly to economic growth and the economic outlook, and that the benefits of the debt-buying initiative outweigh its costs.

It is clear that, despite last week's intensive speech by Fed officials and the release of the Fed's October minutes, investors were given an excellent opportunity to judge when the Fed would shrink QE. But many contradictory arguments still keep the matter in the dark.

Suspense Two: Will the ECB take negative interest rates?

The ECB has become more restless last week than the Fed. Earlier in Wednesday, there were market rumors that the ECB would cut deposit rates to negative areas once the euro was under pressure, but then the ECB governor Draghi to put out the fire, in Thursday Draghi said that since the November 7 meeting rate cut, there is no further information on negative deposit rates. "We should see future deposit rates rise," Draghi said in Friday. "His stance was interpreted by the market as Oban's recent intention to take negative interest rates immediately.

However, Oban many officials are now apparently still interested in further easing. The ECB's executive, Asmussen, said in Saturday that although the ECB had lowered its benchmark interest rate to 0.25% per cent earlier this month, the ECB would still be able to sacrifice further measures if the economic situation after that is still necessary. This includes lowering the interest rate for reserve deposits further down to negative intervals and so on. The European Central Bank's executive Kohl also pointed out that the current low overall inflation rate in the eurozone means that the ECB will then maintain the benchmark interest rate at its current ultra-low level for at least a considerable period of time, not even excluding the possibility of further interest rate cuts in the future.

Speculation over the ECB's negative interest rate policy and other easing measures will be expected to continue to ferment further over the remainder of the year.

Two big signals: the RBA's intervention and the BOJ's desire to loosen up

The RBA and the BoJ seem to have given a clear signal about the direction of their policies, if the central bank left more to the market last week or around monetary policy speculation.

Glenn Stevens, chairman of the Australian Fed, gave a very clear signal of intervention in his speech last week. He said in a speech in Friday that the bank could intervene in the currency markets to counter a stronger Aussie dollar. But he cautioned that the RBA has avoided intervening in recent years to depress the Australian dollar, which could outweigh the gains.

The statement dropped the Australian dollar to $0.9143, the lowest level for September 6. Charles St-arnaud, foreign exchange strategist at Nomura Nomura in New York, said the speech reminded the market that they could intervene if the RBA was dissatisfied with the Australian dollar exchange rate. It also says it has put many investors off their bets on the Australian dollar.

The BOJ president, Mr Kuroda, once again strongly hinted last week that he would implement a new round of easing as long as the Japanese economy emerged from the deflationary threat of a higher consumption tax next April. He noted that the BOJ had "a policy space to deal with the upside and downside risks".

For the BOJ's latest easing stance, some foreign-media analysts expect the BOJ to be ready to implement more stimulus plans in the first few months of next year. Izumi Devalier, an economist at HSBC, said the comments by the Japanese central bank doves "could break the balance and allow the central bank to adopt additional easing policies at the earliest stages of a slowdown in the economy and inflation." ”

Come into the market with questions and see the data this week dispel

Clearly, the focus of the market last week was on the stance of central bankers, and perhaps the more compelling data that investors need to focus on this week. Since last week's central bank officials ' speeches, investors were unable to find more signals or even to go astray. So let's get this week's economic data to the end of the answer.

From the distribution of data this week, the UK, Switzerland and Canada will publish their GDP figures, which are likely to have a direct impact on sterling, the Swiss franc and the Canadian dollar. In Europe and the US, the latest euro-zone unemployment and inflation figures are expected to be released this week, giving guidance on the recent spate of roller-coaster-related euros. The United States will have a series of manufacturing and property data published, although may not be a decisive direction for the market, but still may affect the short-term market trend.

Foreign media analysts have said that in this week's data, some of the data will be among the most important.

The brunt will be inflation data for the eurozone and Japan. In the current environment, inflation data can be said to be a health barometer for the world's major economies, and an important gauge of the market's expectation that central banks will move towards the end of the year.

In Europe, however, the performance of the CPI may be more focused (announced in Friday). The current market is expecting eurozone inflation to continue to weaken, which means the eurozone economy is closer to deflation rather than recovery. If inflation figures are higher than expected, is likely to be seen as a sign that the euro zone's economy is healthier without taking negative interest-rate stimulus, or that it will bolster the euro against the dollar, which would be seen as a sign that the eurozone economy is still not out of recession, and that the market will expect more easing from the future Euro central bank.

The analyst also noted that another concern this week was the UK's third-quarter GDP figures (released in Wednesday), which have been quite encouraging in the past two months, and are the main drivers of sterling's higher growth. If the GDP figures released this week are better than expected, The pound is expected to have a 1.6380 chance of a year-high against the dollar; and if the data is less than expected, the expected negative impact on the exchange rate is also short-term, may trigger the pound against the U.S. dollar high pressure correction, but it is expected that this will only lead to some of the long positions, and will not cause a fundamental reversal of the exchange rate.

Of course, most of the data this week has a relatively balanced impact on the US data, which are of the greatest concern to the market, but there are special concerns. The U.S. Chamber of Commerce will release the November consumer confidence index for the United States on November 26 23:00 Beijing time. The US consumer confidence index, which has fallen for two months, has been at its lowest in October since April, far worse than expected, reflecting a bearish outlook for US consumers. Consumer confidence figures for November are expected to rebound from last month. Investors can look at whether the November consumer confidence index of the US Chamber of Commerce could reverse the plunge.

In addition, the U.S. Department of Commerce will be in Beijing time November 27 21:30 to release U.S. durable goods orders month rate October, September data Rose 0.5%, is currently expected to fall 1.5%. Economic data is a necessary condition for the Fed to shrink QE in the future, and if the US October durable-goods order month rate is significantly lower than expected, the dollar index will be suppressed in the short term.