Euro Gets Attention As Investors Await Draghi Speech
By the close of the Wall Street Session Tuesday, the Euro edged lower against the US Dollar, as the Dollar rose on speculation that US President Donald Trump was leaning towards nominating a Federal Reserve Head who would be more inclined to raise Interest Rates at a faster pace.
Sterling declined to hit a five-day low against the Dollar after comments by Bank of England Policymakers were interpreted by markets as dovish despite newly published Inflation Data in line with expectations.
The Canadian Dollar firmed against its US counterpart following the NAFTA Trade Minister’s speech citing some progress in talks about the Trade Deal.
The New Zealand Dollar briefly rose to a two-week high, after Inflation surpassed the Central Bank’s forecasts in Q3, while the Australian Dollar rallied around a recent three-week high.
In the EuroZone, German August Industrial Production excluding Construction was up on the month. August seasonally adjusted Merchandise Trade Surplus bounced back from €19.3 billion in July to €21.6 billion in August.
UK August Industrial Production was up and so was the August Global Goods Trade Deficit.
For Asia, Japan August Private Sector Machinery Orders (excluding volatile items) increased and so did the September PPI, while China September Merchandise Trade Surplus narrowed from $41.99 billion in August to $28.47 billion in September. Exports increased 8.1% after increasing 5.5% in August.
In the US, Housing Starts in August showed some effects from Hurricane Harvey with weakness in the South pulling down the annualized rate.
Potential Catalysts
High Impact
8:10 AM GMT ECB President Draghi Speaks
8:30 AM GMT UK Average Earnings Index +Bonus (Aug)
8:30 AM GMT UK Claimant Count Change (Sep)
12:30 PM GMT US Building Permits (Sep)
2:30 PM GMT US Crude Oil Inventories
12:30 AM GMT Australia Employment Change (Sep)
2:00 AM GMT China GDP (YoY) (Q3)
2:00 AM GMT China Industrial Production (YoY) (Sep)
Medium Impact
8:30 AM GMT UK Employment Rate (Aug)
12:30 PM GMT US Housing Starts (Sep)
12:30 PM GMT Canada Manufacturing Sales (MoM) (Aug)
6:00 PM GMT US Beige Book
11:50 PM GMT Japan Adjusted Trade Balance
11:50 PM GMT Japan Exports (YoY) (Sep)
12:30 AM GMT Australia Full Employment Change (Sep)
12:30 AM GMT Australia Unemployment Rate (Sep)
2:30 AM GMT China Fixed Asset Investment (YoY) (Sep)
