Germany is off for the today due to Reformation Day and will join the markets on Wednesday.
CNY & AUD 01:00 p.m. GMT + 1 Manufacturing PMI (Oct) – manufacturing performance is expected to have decreased in October at 52.0 compared to 52.4 for the month of September. If the actual result is higher, this should boost the Australian dollar (as the two economies are positively correlated), while a weaker performance should be read as bearish on the Aussie.
EUR, 10:00 a.m. GMT + 1, CPI (YoY) (Oct) P –the index is crucial for measuring the change in inflation. The projected number is for no change at 1.5%, same as for the previous period. Should we see a better than expected result, this could strengthen the euro. A considerable miss, would weaken the currency.
CAD 14:00 p.m. GMT + 1, GDP (MoM) (Aug)- this is a major event for the Canadian dollar measuring the change in the total output of goods and services (inflation-adjusted) for the economy. A higher reading should be positive for the value of the Canadian dollar, while a worse off result would drive down the currency. Expectations are for 0.1% compared to 0.0% for the previous period.
USD 14:00 p.m. GMT + 1, CB Consumer Confidence (Oct)- a leading indicator that could predict future consumer behavior in terms of spending. It measures the level of consumer confidence in the economic activity. Projections point to a higher optimism at 121.0 versus 119.8. A higher reading would suggest optimism for the economy and a higher valuation of the currency. A considerably lower reading could mean a bearish stance on the currency.
Wishing you Happy and Successful Trading!
Risk Warning: The information above constitutes Marketing Communication and does not constitute Investment Advice or Investment Research. The content of the analysis represents the view of our experts on a generic basis, and do not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the analysis above has not been prepared in accordance with legal requirements designed to promote the independence of Investment Research. Readers using the above information should consider the possibility of encountering substantial losses. Therefore, UR Trade Fix Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the above analysis.” Further to the above ,Forex Trading involves a substantial Risk of Loss and may not be suitable for all Investors. Please see our Website for details regarding UR Trade Fix Limited’s Trading Terms, Policies and Offerings.Read more.
The post Market Brief October 31st: Consumer Confidence from the U.S. to stir the dollar appeared first on Tradeo Blog.