Market Overview

Important upcoming events and publications

Important upcoming events and publications (GMT):

9:30 U.K. Manufacturing PMI is able to temporarily increase the volatility of the GBP and the national stock market. For almost a year, this figure has declined, indicating a slowdown in the growth of manufacturing industries. An unexpected surge in September probably isn’t be sustainable.

12:00 The Bank of England monetary policy decision can seriously shake GBP within the day and affect the trend dynamics of the next few days. Together with the rate decision and QE (where no changes are expected) an inflation report and a monetary policy summary will be presented. The main points for the investors would become the assessing Brexit impact on the economy and the prospects for further rate hikes.

12:30 U.S. Weekly Jobless Claims at the day before Nonfarm payrolls will attract the more than usual interest and can cause the movement of currency pairs with USD, as well as in the stock markets. Initial claims have stabilized in the range of 205-215 for several weeks. The number of Continued claims updated its 49-year lows last week.

17:00 U.S. Manufacturing ISM is also able to cause unrest in the dollar markets, being a good indicator of US business activity. In August, this indicator reached multi-year highs, but decreased somewhat in September, and a further October fall is expected. Too sharp decline can be an unpleasant surprise for the markets and cause a move in USD.

See the detailed Economic calendar here

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