An important outcome of the EU summit was the decision to create a single banking Supervisory authority for the Eurozone.
It starts to act from the next year, and the main role will be played by the ECB, as a single body of control over more than 6 000 European banks. First of all, he will supervise the banks that received financial assistance from the state. Thanks to this decision, the ECB will be able to directly inject liquidity in the affected banks, which will alleviate any negative trends.
But markets still show little reaction to the Fed's decision on monetary policy and the release of the GDP for the third quarter. This Friday, there are data on U.S. GDP, which could have an impact on local markets. This is especially important before the U.S. elections. If the GDP data will be weak, it may again affect investor sentiment and to short-term impact on the market growth of the dollar.
Meanwhile, the foreign exchange market lull absence of important statistics today does not allow players to take any serious decisions.
Events today:
Moscow time
21.30 of the members of the U.S. FOMC Sandra Pianalto
