The year 2017 is likely to end strong in the US Manufacturing sector, especially with Durable Goods. However, market watchers are still keeping their fingers crossed with Exports and Inventories, whether the former will keep up strength, and the latter, drawn down.
This week started off busy. Employment Cost Index, Inflation Indications, ADP’s Employment Report, ISM Manufacturing, FOMC Meeting and Policy Announcement later today, Bank of Japan kept rates flat yesterday morning, EuroZone Manufacturing PMI, China’s Caixin Report stayed flat and of course Bank of England’s Policy Meeting.
USDJPY remains largely muted following BoJ’s decision. Nikkei hits fresh highs this morning, majority positions are long. US Consumer Confidence jumped to a near 17-year high in October, with Households Data very upbeat. FOMC commences Policy Meeting and the Policy Statement is expected to reiterate the general outlook of moderate growth and subdued Inflation.
Potential Catalysts High Impact
09:30 AM GMT UK Manufacturing PMI (Oct)
12:15 AM GMT US ADP Nonfarm Employment Change (Oct)
02:00 PM GMT US ISM Manufacturing PMI (Oct)
02:30 PM GMT US Crude Oil Inventories 06:00 PM GMT FOMC Statement 06:00 PM GMT Fed Interest Rate Decision 08:15 PM GMT Bank of Canada’s Gov. Poloz Speaks
07:00 AM GMT UK Nationwide HPI (MoM) (Oct)
08:30 AM GMT Swiss SVME PMI (Oct)
01:45 PM GMT US ISM Manufacturing Employment (Oct)
12:30 AM GMT Australia Building Approvals (MoM) (Sep)
12:30 AM GMT Australia Trade Balance (Sep)