Forex Focus on UK Retail Sales and Philadelphia Fed Manufacturing Index

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Written By: Nikolas Papas
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  • European trading session starts with Switzerland September trade balance data 6:00GMT. UK September retail sales data will be released at 8:30GMT.

European trading session starts with Switzerland September trade balance data 6:00GMT. UK September retail sales data will be released at 8:30GMT. The Eurozone August construction output data is due at 9:00GMT.

In American calendar the Housing Starts, Building Permits, Philadelphia Fed Manufacturing Index and Initial Jobless Claims all to be released at 12:30GMT. Fed Industrial Production m/m is due at 13:15. In Canada the Manufacturing Sales m/m and ADP Nonfarm Employment Change will be out at 12:30GMT.

In our central bak calendar ECB Executive Board Member Mersch will deliver a speech at 12:30. ECB Vice President de Guindos speaks at 14:30, Fed Governor Bowman and FOMC Member Evans both speak at 18:00GMT.

Asian indices are trading mixed today; Nikkei is 0.09% lower at 22,451, Hang Seng is 0.43% higher at 26,780. EURUSD trades 0.01% higher at 1.1071; the USDJPY is 0.02% lower at 108.74 while the AUDUSD is 0.29% higher at 0.6778.

The central bank of China set the Yuan rate (USDCNY) at 7.0789 versus yesterday settlement at 7.0746.

Trade tensions between China and the US and the recent positive developments will continue to have a significant impact on forex markets. The coming days will be crucial for UK, as it prepares for its departure from the European Union on Oct. 31, Brexit developments will be the main force that drives Pound.

Written By: Nikolas Papas

Technical analyst of forex, stock market indices and commoditiesTechnical analyst of forex, stock market indices and commodities Skills: Technical Analysis · forex · Stocks · Crypto · Writing

Published by
Written By: Nikolas Papas