Previous Day's Market Highlights
Yesterday saw no Macroeconomic data from the UK and very limited across the majors, into the evening we had the following.
- The monthly budget statement for July out from the US was released at 19:00. The forecasted print at -$112.5B was missed to the downside at -$120B
- We also had the New Zealand Food Price Index (MoM) for July at 23:45, forecasts were set for an increase to 0.4% from a previous of -0.7%, however the release was much more positive at 1.1%
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
A much busier calendar today, below are the key highlights to look out for.
- UK Labour market data is released at 09:30 and begins with the ILO unemployment rate at 09:30, expected to remain at 3.8% for the 3 months leading to June.
- UK Average Earnings including and excluding bonus for June, at 3.7% and 3.8% respectively.
- Lastly from the UK, the claimant count change for July is expected at 22.8k versus a previous reading of 38.0k. If the forecast of 22.8k is produced, this will be the lowest (best) reading since January’s count of 14.2k.
- At 10:00 the ZEW Economic sentiment survey (Aug) from Germany is released. The survey itself is used as a gauge for the medium-term economic future of Germany. Today’s reading is expected at -30.00; of the previous 9 readings, 8 have been in negative territory.
- Into the afternoon session, US CPI numbers are released for July, with the MoM expected at 0.2% and YoY at 2.1% and both excluding the traditionally volatile prices of food and energy.
- US CPI with no exclusions is forecasted at 1.7%, versus a previous reading of 1.6%.
- To finish off today’s trading, Japanese machinery orders for June at predicted at -0.6% and -1.3% for the YoY and MoM respectively.
Today's Economic Calendar
|9:30am||GBP||ILO Unemployment Rate (3M) (Jun)||3.8%||3.8%|
|9:30am||GBP||Average Earnings Excluding Bonus (Jun)||3.8%||3.6%|
|9:30am||GBP||Claimant Count Change (Jul)||22.8k||38.0k|
|10:00am||EUR||German ZEW Survey – Economic Sentiment (Aug)||- 30.0||-24.5|
|1:30pm||USD||Consumer Price Index (Jul)||1.7%||1.6%|
|1:30pm||USD||Consumer Price Index ex Food & Energy (Jul)||2.1%||2.1%|
|12:50am (Wed)||JPY||Machinery Orders (Jun)(MoM)||-1.3%||-7.8%|
|12:50am (Wed)||JPY||Machinery Orders (Jun)(YoY)||-0.6%||-3.7%|