The European Central Bank publishes the monetary policy statement alongside with an update on the interest rate on October 29, at 14:45 MT time.
China January inflation inches down in January
In January, China's consumer and producer inflation went down as anticipated, even as global equity markets sank on worries that price pressures are already building in America.
A moderation in the country’s inflation would underpin the opinion that the world's number two economy is gradually losing momentum following forecast-surpassing surge of 6.9% the previous year.
However, data from this Asian country early in the year needs to be perceived critically because of price and business distortions provoked by the timing of the long Lunar New Year celebration.
In January, China's producer inflation slid for a third straight month and a bit more than anticipated, as official data uncovered on Friday, hinting that the previous year's firm revenue surge in its industrial sector might start receding.
Obviously, lower gains could affect Chinese businesses’ ability to handle a mountain of debt considering that the authorities are trying to tame risks in the financial system.
In January, the producer price index managed to grow 4.3% versus 2017, which is the smallest ascend for 14 months.
Market experts had hoped for an outcome of 4.4%, referring to milder price leaps for raw materials as well as finished goods.
In January, the PPI added 0.3% on a monthly basis, which is less than half the tempo observed in December.
As for the country’s consumer inflation, it slumped to the lowest value since July last year.
The consumer price index managed to gain 1.5% from 2017, which is in line with hopes and also stepping down from December's revenue of 1.8%, as the National Bureau of Statistics informed.
In January, CPI tacked on 0.6% on a month-on-month basis.
The food price index lost 0.5% from 2017 because of a higher base in 2017, having dived 0.4% in December. As for non-food prices, they went up 2% versus December’s reading of 2.4%.
The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 17:00 MT time.
The US dollar turned to the upside on Monday. Let's discuss what to expect next from the market.
The market sentiment deteriorated because of the election uncertainty and worries about rising virus cases all over the world. Let's make some analysis!
The focus of traders’ attention shifted from Brexit and the US stimulus to the coronavirus . The WHO claimed that Europe become the new Covid-19 epicenter.
Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.