This week the focus mainly falls on interest rate decisions, with the ECB and BoC decisions standing out as the events of the week.
Monday – 22 October 2018
- All Industry Activity Index (JPY, GMT 04:30) – The Index measures the change in the overall production of all industries across Japan. A high reading is considered as a bullish sign.
- Chicago Fed Activity Index (USD, GMT 12:30) – The Index aims to gauge overall economic activity and related inflationary pressure in the US.
Wednesday – 24 October 2018
- Markit Composite and Manufacturing PMI (EUR, GMT 08:00) – The PMI Indices are expected to continue above 50 and also further increase to 54.4, according to consensus expectations.
- Interest Rate Decision (CAD, GMT 14:00) – Event of the Week – The BoC’s Governor has been talking about a gradual increase of interest rates to combat inflation and cool off the economy. Given that no change took place in the previous meeting, it is expected that BoC will raise its interest rates to 1.75%, also following the Fed’s “confirmation” of a rate hike in December.
Thursday – 25 October 2018
- Interest Rate Decision (EUR, GMT 11:45) – Event of the Week – In contrast to all other major Central Banks, ECB does not appear to have any intention of raising the interest rate soon. Thus, consensus expectations are that the interest rates will remain as they are, despite growing inflation concerns.
- Tokyo CPI Index (JPY, GMT 23:30) – The Tokyo CPI Index, the leading indicator for Japan’s inflation performance, is expected to have increased by 0.9% in October.
Friday – 26 October 2018
- US Gross Domestic Product (USD, GMT 12:30) – The economy’s most important figure is expected to have increased by 3.3% in Q3 at an annualized rate, compared to 4.2% last quarter.
- Personal Consumption Expenditure Prices (USD, GMT 12:30) – The Fed’s favourite inflation Index is expected to have increased by 2.3% in the third quarter, compared to 2% in Q2, supporting the Fed’s view for tightening.
Click here to access the HotForex Economic calendar.
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Dr Nektarios Michail
Market Analyst
HotForex
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