What are the main events for today?

最近のFX関連情報ニュース

EUROPEAN SESSION

In the European session, we have the final PMIs for the major Eurozone economies and the UK, as well as the Eurozone Flash CPI report. The final PMIs and other low-tier indicators won't be market-moving, as the data won't change anything for the respective central banks.

The Eurozone CPI Y/Y is expected at 3.3% vs 2.9% prior, while the Core Y/Y measure is seen at 2.5% vs 2.5% prior. Again, the market reaction will likely be muted unless the core inflation data surprises meaningfully on either side. The ECB is widely expected to hike at the upcoming meeting, so nothing will change that, but the central bank has also signalled that there's less appetite to tighten further. 

AMERICAN SESSION

In the American session, we get the US ISM Manufacturing PMI and the US Job Openings data. The ISM is expected at 55.2 vs 55.6 prior, but the market reaction will likely be muted unless we get a significant downward surprise. The US CPI remains the most important release at the moment given the Fed's focus on inflation.

For proxy, the S&P Global PMIs showed a minor downtick in manufacturing. The agency said that growth momentum has shifted from manufacturing to services between the second and third quarters. As reduced safety stock building and supply delays dampen factory production growth, the service sector is now playing a key role in driving a sustained US expansion, underscoring a dependency on consumer spending and financial services growth.

The US Job Openings are expected at 7.313M vs 7.359M prior. The data will likely be ignored both because it's a two-month lagging indicator and because the focus is on inflation, as the labour market has stabilised. 

CENTRAL BANK SPEAKERS

  • 08:30 GMT/04:30 ET - ECB's Kocher (neutral - voter)
  • 12:30 GMT/08:30 ET - ECB's Nagel (neutral - voter)
  • 13:05 GMT/09:05 ET - Fed's Barr (neutral - voter)
  • 15:30 GMT/11:30 ET - ECB's Vujcic (neutral - voter)
This article was written by Giuseppe Dellamotta at investinglive.com.

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最近のFX関連情報ニュース

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