Wednesday is going to have plenty of important publications that could affect dynamics in currencies. Labour market data from the UK is due at 11:30 am (all times stated in GMT +3). The most important publications will include the ILO Unemployment Rate for August that is forecasted to remain at the previous level of 5.5%, and the Claimant Count Change for September. The number of claimants is expected to fall by 2.1 thousands that would support the Pound. August data on Industrial Production for the eurozone countries is due at 12 pm and its forecasts are rather negative. The Industrial Production w.d.a. is expected to fall from 1.9% to 1.8%, while the Industrial Production s.a. could decrease by 0.5%. If forecasts are confirmed the Euro is going to be under serious pressure.
The US data will also include important releases. Retail Sales for September are due at 3:30 pm. The figure is expected to remain at the previous level of 0.2%, while Retail Sales ex Autos will continue its 3-month fall and comes out at -0.1%. At 9 pm, investors are going to follow the publication of the Fed’s Beige Book that contains data on country’s manufacturing, agriculture, consumer spending, credit and property sector for 12 federal districts in the US. It is worth noting that the report is coming out 2 weeks before the planned FOMC meeting and the data could result in new monetary policy decisions.
On Wednesday night, macroeconomic statistics are released in Asian markets. September labour market data is due at 3:30 am in Australia. It is worth paying attention to the Unemployment Rate s.a. that could increase from 6.2% to 6.3%, and to the Employment Change s.a. The number of employed could increase by 5 thousands, which however is a low reading and would pressure the AUD. Finally, at 7:30 am August data on Industrial Production is due in Japan. The figure is expected to remain at the previous -0.5%.