Summary:
- UK retail sales on the agenda this morning
- Philly Fed Index expected to show a drop
- Some major companies’ reports scheduled for today
The economic calendar for Thursday looks quiet as just two noteworthy readings are scheduled. Investors will be offered retail sales data from the United Kingdom in the morning what may spur additional volatility on pairs tied with GBP. Apart from that, all eyes will be focused on Philadelphia Fed Index in the early afternoon. Furthermore, investors could get to know some earnings from several notable companies such as PayPal and American Express.
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Open account Try demo Download mobile app Download mobile app9:30 am BST - UK, Retail Sales for September: The United Kingdom is one of the most often discussed topic as Brexit talks are still unfinished. Let us recall that the UK retail sales data has experienced a slight deceleration on a yearly basis lately. Market consensus suggests the gauge will accelerate to 3.6% YoY against 3.3% YoY previously what could be the second best value this year. On the other hand, it expects the reading on a monthly basis will show a slowdown from 0.3% MoM to -0.4% MoM.
1:30 pm BST - Philadelphia Fed Index for October: Philadelphia Fed saw a noticeable jump in the prior publication. Nevertheless, it will not rather sustain according to market expectations as economists surveyed by Bloomberg anticipate a decrease to 20 pts from 22.9 pts seen previously. Philly Fed is an index released by the Federal Reserve Bank of Philadelphia. It is based on a survey data gathered from some managers. In general, it aims to show a direction of changes within companies.
Central bank speakers scheduled for today:
- 9:00 am BST - ECB’s Nowotny
- 12:00 pm BST - ECB’s Nowotny
- 2:05 pm BST - Fed’s Bullard
- 5:15 pm BST - Fed’s Quarles
Major US companies reporting earnings today:
- Philip Morris International (PM.US)
- American Express (AXP.US)
- PayPal (PYPL.US)
The GBPUSD has rebounded from the 200-period moving average (a purple line) on the D1 chart recently. Today’s readings concerning the British and American economies may spur additional volatility on the pair. On Thursday morning, the pair is trading in the vicinity of 1.31. Source: xStation5
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