The Pound in the Spotlight with Trade and Production Figures in Focus

Daily Update - 10th October 2017

Yesterday’s Market

• EUR Industrial Production (Aug) Germany
• EUR  Sentix Investor confidence
• CNY Caixin China Services PMI (Sep)

Yesterday’s explained

Yesterday was a quiet day in terms of economic data since some of the markets were closed. US was closed due to Colombus Day, Canada due to Thanksgiving day, Japan due to Health Sports Day. Germany released Industrial production report for the month of September and the reports has shown positive sentiments but it did not help the euros to gain the strength because the focus of the deepening clash between Catalan separatists and Spanish authorities has shifted to Catalan President Carles Puigdemont's key address to the regional parliament. Some expect a strictly symbolic declaration, while others believe a risky full-scale break with Spain will be attempted.

 

Today’s Market

• JPY Bank of Japan Governor Kuroda speech
• EUR Export, import, Trade Balance, Current account (Aug) Germany
• CAD Housing Starts & Building permit (Sep)
• GBP Industrial and Manufacturing Production

Today's Market

Looking ahead, markets look forward to the Swiss jobless rate and German trade data ahead of the Europe open, while the UK industrial production data combined with goods trade balance report will be paid close attention to in Europe. Also, focus remains on the ECOFIN meetings, which are usually held in Brussels and attended by Finance Ministers from EU member states.

From the US docket, we have no significant macro news, and hence, all eyes will remain on the Fed speaks. Markets also await the release of the Canadian housing data, alongside the speech by the BOC Council member Wilkins scheduled later today.