Forex Focus on Eurozone August industrial production

Forex week have a quiet start on Monday with Germany September wholesale prices due at 6:00GMT. The SNB total sight deposits w.e. 11 October will be out at 8:00GMT. Eurozone August industrial production data will be released at 9:00GMT.

In our central bank calendar, ECB Vice President de Guindos will speak at 7:15GMT while BoE Deputy Governor Financial Stability Cunliffe will deliver a speech at 12:10.

Asian indices are trading higher today; Hang Seng is 0.88% higher at 26,537. EURUSD trades 0.04% lower at 1.1030; the USDJPY is 0.16% lower at 108.26 while the AUDUSD is 0.17% lower at 0.6778.

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During the Asian session, China Imports (year over year) came in at -8.5%, below forecasts of -5.2% in September. China Trade Balance CNY came up to 275.15B in September from previous 239.6B.

The central bank of China set the Yuan rate (USDCNY) at 7.0725 versus yesterday settlement at 7.0727.

Trade tensions between China and US and the recent positive developments will continue to have a significant impact on forex markets. The coming days will be crucial for UK, as it prepares for its departure from the European Union on Oct. 31, Brexit developments will be the main force that drives Pound.

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