• The dollar has risen to its highest level on a trade-weighted basis since 2002...
• The Russian invasion of Ukraine has also contributed to dollar strength in terms of a flight-to-quality into the world’s largest reserve currency on the resulting increased geo-political tensions and as financial markets came under pressure...
• Overall, our base case is that with further significant ECB rate hikes on the agenda, the euro could continue to trade within its recent range of $0.95-1.00 against the dollar in the coming months...
• This week the market spotlight will turn to the ECB monetary policy meeting...
• There is also a very busy data docket ahead in the Eurozone this week...
• GDP and inflation data will be in focus in the US as well...
• In the UK, like elsewhere, it is envisaged the flash PMIs were both in contraction territory in October...

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