Catalonia Independence Crisis Slows Euro

Daily Update - 17th October 2017

Yesterday’s Focus

• ECB Trade Balance
• Deadline for Catalonia Independence

Yesterday’s Market

Euro seems to be at a cross fire on many issues currently one of that was the Soured Debts across European Zone which is yet unsolved and now adding more oil to the fire will be the statement given by Mario Draghi on Friday showed us the significant effect it had on the Euro. “He stated that a very substantial degree of monetary accommodation is still needed” which hurt the sentiment of the Euro currency on Friday onwards. ECB will be cutting back on the Quantitative Easing of the European Economy and it also means that Draghi will not be making any interest rate decisions in the meantime. Regardless of the Semi Positive reports from Trade Balance Euro was not backed up to withhold the Selloff pressure and Euro drifted negatively due to Catalonia’s unsolved Independence Risk encountered currently.

 

Today’s Focus

• GBP Consumer Price Index
• ECB Economic Sentiment & Consumer Price Index
• US Industrial Production Reports

Today’s Focus

Highlights of Tuesday will be the GBP Consumer Price Index and followed by a series of European Data like Consumer Price Index & Economic Sentiment of the European Market Confidence placed on by the General Public.

To finish off the day US will release its Industrial Production reports & Its Housing Market Index which will give us a detail outlook of US Housing Market outlook and its Production sectors.