European stock indices started today’s trading slightly weaker after bearish trading during the Asia-Pacific session today. Markets appear to be in wait mode ahead of a marathon of high-profile events in the second half of the week, including the FOMC, Bank of England and September preliminary PMIs.
Today’s economic calendar includes inflation reports from the Eurozone and Canada. However, the data from Europe is a revision, so it is unlikely to have a major impact on the EUR. The USD/CAD pair may experience a little more volatility around 2:30 p.m. EST as Canadian inflation and US housing market data are released at the same time. Oil continues to trade higher and crude oil traders will be closely watching the API oil inventory report.
11:00 CEST – Eurozone August CPI (final).
- Main: 5.3% YoY at first launch (5.3% YoY before)
- Base: 5.3% y/y at first launch (previously 5.5% y/y)
2:30 p.m. CEST – US real estate market data for August
- Building permits. Expected: 1,440,000. So far: 1,443,000
- houses began. Expected: 1,440,000. So far: 1,452,000
2:30 p.m. CEST – Canada, August IPC. Expected: 3.8% year-on-year. So far: 3.3% year-on-year
10:40 p.m. CEST – API report on US oil inventories expected: -1.1 million. Back: +1.17 MB
Speeches from central bankers
- 10:15am BST – BoE, Saporta
- 2:30pm CEST – BCE, Elderson
- 8:00 p.m. CEST – BoC, Kozicki
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