At 11:00 (GMT+2), the ZEW business sentiment index in Germany will be published. The indicator reflects the difference between the shares of institutional investors and analysts who are optimistic and pessimistic. It is predicted that the value will continue to deteriorate and amount to –27.3 points. The implementation of the forecast may put pressure on the euro.
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15.10.2019 - 09.10.2019
At 11:00 (GMT+2), the ZEW business sentiment index in the EU will be published. The indicator reflects the difference between the share of optimistic and pessimistic institutional investors and analysts. The value is expected to continue to deteriorate at –33.0 points. The implementation of the forecast may put pressure on the European currency.
At 10:30 (GMT+2), the UK data on the level of employment for August will be published. This indicator captures changes in the number of employed citizens in the country. It is predicted that the value will decrease from 31K to 23K. Realization of the forecast may put pressure on the pound.
At 10:30 (GMT+2), the UK data on the unemployment rate for August will be published. This indicator fixes the percentage of the number of unemployed over 18 years of age to the total working-age population. Only registered unemployed are counted. The unemployment rate is projected to remain at 3.8%.
On the 4-hour chart, the S&P 500 broad-spectrum index formed a triangle. If the price manages to consolidate above the level of 2992.7, the next target will be the level of 3022.5.
USD showed ambiguous dynamics against JPY on Monday, halting the development of an uptrend in the short term, which brought the instrument to local highs of August 1. Japanese exchanges were closed yesterday due to the Health and Sports Day, so market activity remained fairly low.
Yesterday, the NZD/USD pair fell, interrupting the “bullish” impulse formed at the end of the last week due to a decrease in optimism regarding the Brexit negotiation, as the media reported that Boris Johnson’s plan for the Irish border was not positive met in Brussels.
At the beginning of the new Forex trading week, silver prices rose slightly, responding to the worsening prospects for an agreement between the UK and the EU under Brexit.
At 06:30 (GMT+2), preliminary data on industrial production for August will be published in Japan. The indicator fixes the level of change in the volume of industrial production and utilities in the country. The calculation takes into account the manufacturing and mining industries, as well as the electric power industry. It is predicted that production will decline by 1.2%, which may put pressure on the yen.
At 03:30 (GMT+2), data on the consumer price index in the PRC for September will be released. It is the main indicator of inflation in the country, which determines the change in the level of retail prices for a certain “basket” of goods and services: food, transport, utilities, health care and so on. It is predicted that on a monthly basis, the value will remain at the same level of 0.7%, and on an annualized basis it will increase from 2.8% to 2.9%.