German inflation figures to keep things busy post-FOMC
Good day, everyone! Hope you're all doing well as we get into European trading later. So, the FOMC has come and gone but we're left very much near levels where we were trading at prior to the Fed meeting. The dollar weakened initially but recovered into the close of US trading before settling in a mixed range at the moment.
Month end flows will be the next key thing to be wary about but in the meantime, we'll have some data to move things along as well.
0600 GMT - Germany October GfK consumer confidence
Prior release can be found here. The reading measures the level of consumer confidence in economic activity. Low-tier data.
0800 GMT - Eurozone August M3 money supply data
Prior release can be found here. General gauge of broad money in the Eurozone economy. Not really a data point that offers much in the current economic environment.
0800 GMT - ECB publishes its economic bulletin
Usually just a reiteration of the ECB statement, should not contain anything unexpected that will surprise markets.
0900 GMT - Eurozone September final consumer confidence
0900 GMT - Eurozone September economic, business, industrial confidence
Preliminary consumer confidence level can be found here. The prior readings can be found here. Not a major release by any means but one that conveys general sentiment towards the Eurozone economy. Economic sentiment has been dampening in recent months and that isn't a healthy sign for the growth outlook. But so far, we're not at levels that warrants worrying or panic just yet.
1200 GMT - Germany September preliminary CPI figures
August figures can be found here. The German states' figures will be released during the day in the build up to this. I'll have the schedule for that up in a bit later. CPI inflation is expected to hold steady at +2.0% y/y so let's see if we'll be getting any surprises to come later on. A release that could possibly temper with ECB expectations on inflation but shouldn't have much immediate impact on markets.
Also to come at 1145 GMT, we'll have BOE economist Andy Haldane speaking in London at the Institute for Government. There will be a Q&A session to follow as well. And at 1330 GMT we'll have ECB president Draghi delivering the welcome address at the 3rd annual ESRB conference. Don't expect much to come from that given the context.
But that's not all, at 1400 GMT we'll also see BOE governor Carney chair a policy panel discussion at the same event as Draghi on "Sustainable Finance". Once again, given the topic I don't expect Carney to touch too much on monetary policy here.
That's all for the session ahead. I wish you all the best of days and good luck with your trading!
