Analysis and Recommendations: The EUR/GBP is down 11 points as the euro weakened today. The pound gave up a bit of yesterday’s gains for some reason. UK
The EUR/GBP is down 11 points as the euro weakened today. The pound gave up a bit of yesterday’s gains for some reason. UK construction PMI met expectations but was lower than last month. Traders seemed disappointed when the report met forecast.
Growth in Britain’s construction sector slowed in October after hitting its fastest pace in six months in September but the increase in new work was the quickest in a year, a survey showed on Tuesday.
The CIPS/Markit construction Purchasing Managers’ Index (PMI) slipped back to 58.8 in October, in line with a Reuter’s poll of economists, from 59.9 in September.
A reading of British manufacturing published on Monday showed surprising strength last month, suggesting the economy may have gathered pace in the final quarter of 2015.
Tuesday’s construction survey suggested the sector was also helping the economy to grow in the final quarter of the year, in contrast to preliminary official figures which showed it acted as a drag in the third quarter, Tim Moore, senior economist at Markit, said.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Today’s economic releases:
Cur. |
Imp. |
Event |
Actual |
Forecast |
Previous |
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Japan – Culture Day |
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AUD |
Interest Rate Decision (Nov) |
2.00% |
2.00% |
2.00% |
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AUD |
RBA Rate Statement |
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GBP |
Construction PMI (Oct) |
58.8 |
58.8 |
59.9 |
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NZD |
GlobalDairyTrade Price Index |
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|
-3.1% |
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USD |
Factory Orders (MoM) (Sep) |
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-0.9% |
-1.7% |
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EUR |
ECB President Draghi Speaks |
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Upcoming Economic Events that you should be monitoring:
Wednesday, November 4, 2015
Cur. |
Event |
Actual |
Forecast |
Previous |
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USD |
API Weekly Crude Oil Stock |
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|
4.100M |
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NZD |
Unemployment Rate (Q3) |
|
6.0% |
5.9% |
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AUD |
Retail Sales (MoM) (Sep) |
|
0.4% |
0.4% |
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AUD |
Trade Balance (Sep) |
|
-3.000B |
-3.095B |
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CNY |
Caixin Services PMI (Oct) |
|
50.8 |
50.5 |
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GBP |
Halifax House Price Index (MoM) |
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-0.7% |
-0.9% |
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EUR |
German Services PMI (Oct) |
|
55.2 |
55.2 |
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EUR |
ECB President Draghi Speaks |
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USD |
FOMC Member Brainard Speaks |
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USD |
ADP Nonfarm Employment Change |
|
180K |
200K |
||
USD |
Trade Balance (Sep) |
|
-41.10B |
-48.30B |
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USD |
Services PMI (Oct) |
|
54.6 |
54.4 |
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USD |
Fed Chair Yellen Testifies |
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USD |
Crude Oil Inventories |
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|
3.376M |
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USD |
FOMC Member Dudley Speaks |
Government Bond Auctions
Date Time Country
Nov 03 10:10 Austria Holds RAGB bond sale
Nov 04 15:30 Sweden Announces details of Bond on 11 Nov
Nov 04 N/A Holland Announces details of Bond on 10 Nov
Nov 05 09:30 Spain Auctions Bonos
Nov 05 09:50 France Auctions OATs
Nov 05 10:03 Sweden Holds I/L bond auction
Nov 09 12:00 Norway Details bond auction on 11 Nov
Nov 09 15:30 Italy Announces details of BTPs/CCTeu on 12 Nov
Nov 09 N/A US Holds 3-year note auction
Nov 10 10:30 UK 0.125% 2058 I/L Gilt auction
Nov 10 N/A Holland Eur 2.0-3.0bn 0% Apr 2018 DSL
Nov 10 N/A US Holds 10-year note auction
Nov 11 10:03 Sweden Holds bond auction
Nov 11 11:15 Norway Holds bond auction
Nov 11 10:30 Germany Eur 3bn 0.25% Oct 2020 Bobl
Nov 12 10:10 Italy Auctions BTPs/CCTeus
Nov 12 10:30 UK 4.25% 2039 Gilt auction
Nov 12 N/A US Holds 30-year bond auction