This week we anticipate inflation data and retail sales for Britain and the US and employment data for Australia. What are the forecasts and how they may affect the currency pairs? Read this week's news wrap!
Euro zone economy speeds down
In October, euro zone business surge dived to a two-year minimum because escalating trade clashes as well as levies along with soaring political uncertainty, affected exports and also optimism. That’s what a poll disclosed on Tuesday.
While the poll along with official figures revealed that the deceleration is quite widespread, but the clouds over the euro zone aren’t as gloomy as recently perceived by traders.
Any upbeat signs are going to be welcomed by policymakers at the ECB because they consider stopping their 2.6 trillion euro asset buying program by the end of 2018, closing one of the key sources of stimulus to the EU economy.
In October, the Euro Zone Composite Final Purchasing Managers' Index went down to about 53.1 from September's reading of 54.1. That’s the lowest reading since September 2016. However, it appeared to be above a 52.7% flash estimate and also higher than the 50 mark separating contraction from growth.
Besides this, official figures disclosed that in Germany industrial orders surged by 0.3% in September, although a Reuters survey foresaw a 0.6% dive, suggesting the EU’s number one economy concluded the third quarter on a firm footing.
The final German services PMI was updated upwards to 54.7 from a preliminary outcome of 53.6, which appears to be one of the greatest upward updates in the poll’s history.
In addition to this, activity in France speeded up because companies increased hiring after a soar in new business and the expansion of Spain's service sector at its fastest tempo since June also backed by surge in new business, as earlier PMIs disclosed.
As follows from October's PMI data, the vast majority of the key euro zone economies are going to perform a bit better in the fourth quarter than in the third quarter.
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
In October, China's factory-gate inflation decelerated for the fourth month due to cooling domestic demand as well as manufacturing activity, thus indicating that the country’s government would probably come up with more growth-boosting measures against…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…