Economic calendar: Focus on central bankers’ speeches

Summary:

• German inflation expected to remain at 2% YoY

• Durable goods orders in the US forecasted to bounce higher

• Numerous central bank speakers scheduled for today

FOMC meeting is already behind us but monetary policy enthusiast will not be disappointed on Thursday either. Third annual conference arranged by the European Systemic Risk Board will be held today and several top central bankers from European countries will attend the event. Apart from that, investors will be served inflation reading from Germany and some semi-important data from the United States

1:00 pm BST - CPI Inflation from Germany for September. While inflation readings from EMU member countries do not produce major price swings the German data should be watched by traders closely. This is because Germany is the biggest EMU economy and therefore data from this country has the biggest impact on the final European reading. The German CPI inflation is expected to remain at 2% YoY in September. Data for the whole euro area is scheduled for release tomorrow at 10:00 am BST.

1:30 pm BST - US, Durable Goods Orders for August. Reading released last month showed that orders for durable goods declined quite noticeably in July. This time the opposite is expected as market consensus points for 2% MoM increase. Wholesale inventories reading released simultaneously is expected to show 0.3% MoM increase against last month’s 0.6% advance. Last but not least, the US GDP reading will come out. However, as this third revision it is unlikely that we will see any deviation from the previous 4.2% YoY

3:00 pm BST - US, Pending Home Sales for August. New home sales data released yesterday came more or less in line with expectations at 629k. Today’s reading is expected to show a 0.3% MoM decrease in the amount of pending home sales what may indicate that the demand for homes in the US is somewhat weakening.

Central bank speakers scheduled for today:

• 12:45 pm BST - BOE’s Haldane

• 2:30 pm BST - ECB President Draghi

• 3:00 pm BST - BOE Governor Carney

• 3:00 pm BST - Riksbank Governor Ingves

• 4:30 pm BST - ECB’s Lane

• 6:00 pm BST - ECB’s Praet

• 7:00 pm BST - Fed’s Kaplan

• 9:30 pm BST - Fed Chairman Powell

• 10:45 pm BST - BoC Governor Poloz

EURUSD has been struggling to gain traction after breaking above the mid term resistance zone. However, yesterday’s FOMC meeting and Powell conference pushed the main currency pair back into the range of the aforementioned zone and later even below it. Source: xStation5