Economic data coming up in the European session

UK October CPI data in focus

Comic 13-11

Good day, everyone! Hope you’re all doing well as we look to get things going in the session ahead. It’s been a bit of a livelier start to the day with the kiwi jumping after the RBNZ surprised by keeping its OCR unchanged earlier.

There are also some concerns with US-China trade talks as the tariffs issue continues to keep markets on edge as we move towards European trading.
Looking ahead, UK CPI data will be the main economic release in the coming session but I wouldn’t expect it to impact the pound much as it is still all about election sentiment at the moment for the currency.
0700 GMT – Germany October final CPI figures
The preliminary report can be found here. As this is the final reading, it isn’t expected to produce much – if any – impact unless the figures substantially deviate from initial estimates.
0930 GMT – UK October CPI figures
0930 GMT – UK October PPI figures
Prior release can be found here. Inflationary pressures in the UK continue to stay modest but a little under the 2% threshold. That should give some leaning for the BOE towards potential rate cuts but until the Brexit mess is sorted out, there’s really nothing to read into the data at the moment. As such, don’t expect much from the release later.
1000 GMT – Eurozone September industrial production data
Prior release can be found here. General indication of factory activity in the euro area, a minor data point as this pertains to Q3.
1200 GMT – US MBA mortgage applications w.e. 8 November
Weekly US housing data, measures the change in number of applications for mortgages backed by the MBA during the week. Not the biggest of data points, but a general indicator of the housing sector sentiment.
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading!