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The five most important events to watch during the coming week
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Loading...1. Inflation in the US
The commercial department will publish inflation data in October on Wednesday. Market analysts expect consumer prices to grow by 0.1%, and baseline inflation forecast is 0.2%. On an annual basis, the CPI is expected to reach 1.7%. The CPI is seen by the Federal Reserve as a better indicator of longer-term inflationary pressures as it excludes the food and energy categories. The central bank is usually trying to target 2% of core inflation, and any increase to that 2% will be a catalyst to force the Fed to raise interest rates. A higher onflation than expected will support the dollar, and we can expect a greenback.
2. UK CPI
UK inflation figures in October will be released on Tuesday and analysts expect the annual consumer price index to reach a five-year high of 3.1% versus 3.0% a month earlier.
In addition to the inflation report, traders will focus on monthly unemployment and retail sales figures for further indications of continuing the effect of the Brexit decision on the economy.
3. Inflation report in the euro area
The Eurozone will release the final inflation figures in October on Thursday, with the report expected to confirm that the CPI has risen to 1.4%, which remains well below the European Central Bank's target. Perhaps more importantly, core inflation is expected to reach a five-month low of 0.9%, backing the ECB's decision to withdraw the monetary stimulus smoothly. In addition to inflation data, the euro area will release a second estimate of economic growth in the third quarter.
4. Inflation data in Canada
Canada will release inflation figures in October on Friday and the report is expected to show that inflation has risen 0.1% last month. On an annual basis, the CPI is expected to grow by 1.4%. Bank Of Canada keeps interest rates stable, as expected last month, and warned that it would maintain its cautious position as it believes that future measures will be taken in the face of the risks and uncertainties faced by the economy.
5. The ECB's conference
European Central Bank Governors Mario Draghi, US Federal Reserve Bank Janet Yelan, Bank of England Mark Carney Bank of Japan, Haruhiko Kuroda will present a conference organized by the ECB in Frankfurt on Tuesday. The panel discussion entitled "Policy Basics: Challenges and Opportunities for Central Bank Communication" will begin at around 12:00, and we expect increased volatility at major currency pairs during the meeting.
Jr Trader Petar Milanov
Source: Bloomberg Pro Terminal
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