Economic calendar (GMT0):
Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual
05:00 Japan Eco Watchers Survey: Current September 49.3 47.5
05:00 Japan Eco Watchers Survey: Outlook September 48.2 49.1
05:45 Switzerland Unemployment Rate (non s.a.) September 3.2% 3.3% 3.2%
06:00 Germany Current Account August 23.4 12.3
06:00 Germany Trade Balance August 25.0 15.3
The U.S. dollar is steady today as investors await FOMC meeting minutes due 18.00 GMT. Remarks of policymakers help to understand which financial and economic conditions determined opinions of committee members.
The pound little changed ahead of Bank of England interest rate decision. The central bank is unlikely to change its monetary policy in October. BOE Governor Mark Carney said that the bank should get a better understanding of optimal timing of a first rate increase closer to the end of the year. In September 8 out 9 members of the monetary policy committee voted to keep benchmark rate unchanged, although minutes of the meeting said that the time to raise rates is coming. Thus the BOE may raise rates sooner than many market participants expect.
The Australian dollar declined amid comments by Reserve Bank of Australia head of economic research John Simon, who said that low interest rates are not risky, they are appropriate given slow global economic growth. Simon also said that concerns over low rates are overdone. These comments suggest that the RBA will continue cutting rates and the AUD will fall further.
EUR/USD: the pair rose to $1.1260 in Asian trade
USD/JPY: the pair traded within Y119.80-10
GBP/USD: the pair fell to $1.5295
The most important news that are expected (GMT0):
(time / country / index / period / previous value / forecast)
11:00 United Kingdom BoE Interest Rate Decision 0.5% 0.5%
11:00 United Kingdom Bank of England Minutes
11:00 United Kingdom Asset Purchase Facility 375
11:30 Eurozone ECB Monetary Policy Meeting Accounts
12:30 Canada New Housing Price Index, MoM August 0.1% 0.2%
12:30 U.S. Continuing Jobless Claims September 2191 2205
12:30 U.S. Initial Jobless Claims October 277 274
13:10 U.S. FOMC Member Dennis Lockhart Speaks
17:30 U.S. FOMC Member Charles Evans Speaks
18:00 United Kingdom BOE Gov Mark Carney Speaks
18:00 U.S. FOMC meeting minutes
19:30 U.S. FOMC Member Williams Speaks