The month of October ends with many economic indicators around the world, with Canadian GDP standing out. Let’s see what’s on the menu today.
In Britain, GfK Consumer Confidence rose to -13, better than expected but still in the negative zone. Nationwide HPI rose only by 0.4%, less than expectations. GBP/USD now trades at 1.6550.
For more on the British Pound, read the GBP/USD Forecast.
In Australia, Private Sector Credit fell by 0.2%. AUD/USD now trades at 0.9111, falling from higher levels.
In a second rate decision in two weeks, Japan’s BOJ didn’t surprise and left the interest rate unchanged at 0.1%. Relatively optimistic comments in the Monetary Policy Statement helped the Yen make some gains.
German Retail Sales disappointed – they fell by 0.5%. Expectations were for a rise of 0.7%. Later in Europe, CPI Flash Estimate is expected to drop by 0.1% (annualized), showing that deflation is still here.
European unemployment rate is expected to edge up once again, reaching 9.7%. This is a key indicator for the ECB, and will impact the rate decision next week.
EUR/USD lost some of its gains, and is now trading at 1.4823. It’s capped under the 1.4842 resistance line, after dropping under it earlier this week. For more on the Euro, read the EUR/USD Forecast.
In Switzerland, the KOF Economic Barometer is predicted to make a big rise up to 1.19. USD/CHF is now at 1.0187.
Canadian GDP is expected to rise by 0.1% in the month of August, but could be higher. Read the Canadian GDP Preview for more details.
In the US, Employment Cost Index is expected to rise by 0.4% (quarterly), Core PCE Price Index is predicted to rise by 0.2% and Personal Spending is expected to fall by 0.4%.
Near the end of the day, Chicago PMI is expected to edge up to 48.8 points, still under the important 50 point mark. Revised UoM Consumer Sentiment is predicted to rise up to 70.1 points. All these figures are of smaller importance.
That’s it for today. Happy forex trading!
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