Dollar marches on
- CAD Building Permits m/m: -5.5%
- AUD NAB Business Confidence: 4
- CNY CPI y/y: 1.8%
- CNY PPI y/y: -1.7%
It was a relatively quiet start to the week, as the economic docket was pretty much empty yesterday. Last week’s strong Dollar trend continued, with the Greenback pushing on against the Pound and Euro. Friday’s improved jobs data sparked the trend. Markets are now looking to the Fed to see if policy members will decide to raise interest rates this year and possibly even next month.
Across the pond, the US election is heating up. Yesterday, in his speech, Republican presidential nominee Donald Trump proposed a moratorium on new financial regulations. This was one of Trump’s latest efforts to move the race to the White House back to policy issues after a difficult month. Democratic presidential nominee and favourite, Hilary Clinton, is scheduled to deliver her own speech on the economy this Thursday.
- GBP Manufacturing Production m/m
- GBP Goods Trade Balance
- USD Prelim Nonfarm Productivity q/q
- USD Prelim Unit Labor Costs q/q
- AUD RBA Gov Stevens Speaks
The UK Manufacturing and Industrial Production monthly figures are scheduled for release today. Manufacturing is forecast to recover after last month’s disappointing -0.5% reading. Likewise, Industrial Production is expected to improve on the -0.5% figure seen previously. Before the UK markets open, China the world’s second largest economy, will post their yearly inflation figure where prices are expected to decrease to 1.7% from the previous 1.9% reading.