-
SNB, BoE, Norges Bank and SARB to announce rate decision today
-
UK retail sales growth expected to decelerate
-
Another piece of data from the US housing market
8:30 am BST - Swiss National Bank rate decision. The Swiss National Bank is unlikely to change the settings of monetary policy today. SNB often mirrors actions of the European Central Bank but seldom does it immediately. Having said that, Swiss central bankers may postpone rate cuts until later meetings but comment on FX rate today.
9:00 am BST - Norges Bank rate decision. Central bankers are easing policy all around the World but Norway is an exception. Norges Bank delivered 2 rate hikes this year and it is rumoured that another increase may be coming soon. In case no such decision is made today, one could expect some hints on timing.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app9:30 am BST - UK, Retail sales for August. UK retail sales readings for June and July managed to beat expectations but showed slowing growth. The trend is expected to continue with headline gauge showing 2.9% YoY (previous 3.3% YoY) and core measure showing 2.6% YoY (previous 2.9% YoY).
12:00 pm BST - Bank of England rate decision. Yesterday’s report showed significant slowdown in core and headline CPI gauges. Such a reading gives BoE more comfort to stay on hold until Brexit drama is resolved. No change to the level of interest rates is expected today and another Article 50 extension could tie BoE’s hands for longer.
1:30 pm BST - US data pack. A few semi-important reports from the US economy will be released today in the early afternoon. Initial jobless claims are expected to come in slightly lower than a week ago while Philly Fed manufacturing index for September should see a decline from 16.9 pts to 11 pts. Simultaneously, current account data for Q2 will be released and it is forecasted to come in at -127.8 billion USD.
2:00 pm BST - South African Reserve Bank rate decision. SARB delivered a 25 basis point rate cut in July and is expected to stay on hold today. Keep in mind that the South African decision announcement is not instantaneous so ZAR may enjoy elevated volatility starting from 2:00 pm BST.
3:00 pm BST - US, Existing home sales for August. The US housing market released yesterday was quite a big surprise. Both building permits and housing stats came in much higher than expected. However, existing home sales are seen dropping from 5.42 million in July to 5.37 million in August.
Central bankers’ speeches
-
8:00 am BST - Riksbank’s Floden
-
11:00 am BST - ECB’s Coeure
-
1:00 pm BST - ECB’s Lautenschlaeger
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.