Monday, October 30 – Outlook

Welcome to the weekly outlook starting this Monday, October 30. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. This week we see a lot of news out of the US with particular attention paid to the key interest rate decision on Wednesday. More central bank rate decisions are expected from Japan and the UK. Meanwhile Europe releases GDP and inflation data, and we get jobs numbers out of NZ.

Event: US Core Personal Consumption Expenditures (September)

Date: Monday 30 October 2017 at 12:30 GMT

Markets affected: EUR/USD, USD/JPY

Trending hashtags: #usd

With the economy back on track and the US dollar up against most of its counterparts. The world’s largest economy is looking very robust following Friday’s GDP result beating expectations as the economy expanded 3% in the third quarter. The question to be seen this Monday is whether that has translated to personal consumption expenditure for US citizens. Previous reading of Personal Consumption Expenditure showed a 0.2% monthly increase with a 1.4% rise against the previous year. Core Personal Consumption Expenditure rose 0.1% on a monthly basis and 1.3% on an annualised basis. Also, due on Monday are personal income figures which are expected to rise 0.4% from the previous change of 0.2% in September.

Event: Bank of Japan Interest Rate Decision

Date: Tuesday 31 October 2017 at 02:00 GMT

Markets affected: EUR/JPY, USD/JPY

Trending hashtags: #jpy, #yen, #interestrate

The Bank of Japan has maintained its super low negative interest rate at -0.1% and it is not anticipated to change at this time. The rate decision will come just after unemployment data which will be released on the evening before at 23:30 GMT, which last month sat at 2.8%. Following the interest rate decision, the BOJ will hold a press conference at 6:30 GMT that investors in the yen will be closely following.

Event: EU Gross Domestic Product (Q3)

Date: Tuesday 31 October 2017 at 10:00 GMT

Markets affected: EUR/USD, EUR/GBP

Trending hashtags: #eur, #gdp