Forex News – Relative peace for traders after turbulent previous weeks
November 11, 2013 11:19 am
Due to a lack of big economic releases from the United States, during the week ahead the market will probably try to digest recent events and try to establish new equilibriums that reflect the latest fundamentals.
Monday will mark the Veterans’ day holiday in the United States and will feature only Italian industrial output data out of Europe as well as Australian mortgage lending for September and the September Japanese current account balance.
Tuesday will start with business confidence indicators from Australia and consumer confidence numbers from Japan. German, Italian and British consumer prices will follow. UK inflation for October as measured by the Consumer Price Index is expected to fall to 2.5% from 2.7% the previous month.
There will be some more important news for the UK economy and subsequently sterling on Wednesday. Firstly, the UK employment report for September and the claimant count for October will be announced. Unemployment, expected at 7.7%, is important as the Bank of England has tied its forward guidance for low interest rates as long as unemployment is above the 7% level.
Wednesday will also see the release of the Bank of England inflation report. The report will be closely scrutinized by analysts to check whether the Bank has updated its longer-term forecasts for the UK economy to take into account the generally positive UK economic data that has been released lately. Eurozone industrial production is also expected on Wednesday, while the day concludes with US Federal budget figures during late New York trading.
Thursday will feature the week’s most important news in the form of Japanese GDP and Eurozone flash GDP estimate as well as German, French and Italian GDP estimates for the third quarter. Japan is expected to post quarter-on-quarter growth of 0.4%, whereas the Eurozone is expected to grow by 0.2%, following its climb out of recession during the second quarter of this year.
In other statistics, Thursday will also see the release of October UK retail sales, US weekly jobless claims and US trade deficit for September.
The week wraps up with Eurozone inflation numbers (final) on Friday and US industrial output and capacity utilization for October, which will be watched for any shutdown-related slowdown affecting industry and manufacturers.
Due to a lack of big economic releases from the United States, during the week ahead the market will probably try to digest recent events and try to establish new equilibriums that reflect the latest fundamentals.
Monday will mark the Veterans’ day holiday in the United States and will feature only Italian industrial output data out of Europe as well as Australian mortgage lending for September and the September Japanese current account balance.
Tuesday will start with business confidence indicators from Australia and consumer confidence numbers from Japan. German, Italian and British consumer prices will follow. UK inflation for October as measured by the Consumer Price Index is expected to fall to 2.5% from 2.7% the previous month.
There will be some more important news for the UK economy and subsequently sterling on Wednesday. Firstly, the UK employment report for September and the claimant count for October will be announced. Unemployment, expected at 7.7%, is important as the Bank of England has tied its forward guidance for low interest rates as long as unemployment is above the 7% level.
Wednesday will also see the release of the Bank of England inflation report. The report will be closely scrutinized by analysts to check whether the Bank has updated its longer-term forecasts for the UK economy to take into account the generally positive UK economic data that has been released lately.
Eurozone industrial production is also expected on Wednesday, while the day concludes with US Federal budget figures during late New York trading.
Thursday will feature the week’s most important news in the form of Japanese GDP and Eurozone flash GDP estimate as well as German, French and Italian GDP estimates for the third quarter. Japan is expected to post quarter-on-quarter growth of 0.4%, whereas the Eurozone is expected to grow by 0.2%, following its climb out of recession during the second quarter of this year.
In other statistics, Thursday will also see the release of October UK retail sales, US weekly jobless claims and US trade deficit for September.
The week wraps up with Eurozone inflation numbers (final) on Friday and US industrial output and capacity utilization for October, which will be watched for any shutdown-related slowdown affecting industry and manufacturers.
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