Forex Focus on Germany September import price index and U.S. Retail Inventories

The Fed week starts slowly with European traders attention to Germany September import price index, which will be released at 7:00GMT. Eurozone September M3 money supply will be out at 9:00GMT. The SNB total sight deposits for the week 25 October is due at 9:00GMT. The UK October CBI retailing reported sales will be released at 11:00GMT.

In the American forex calendar the Wholesale Inventories m/m, the Goods Trade Balance the Retail Inventories m/m the Retail Inventories excl. Autos m/m and the Chicago Fed National Activity Index all to be released at 11:30GMT. The Dallas Fed Manufacturing Index will be out at 13:30GMT.

In our central bank calendar, ECB President Mario Draghi speaks at 14:00 while the BoE MPC Member Tenreyro delivers a speech at 16:00GMT.

Fed is widely expected to cut interest rates by 25 bps. Japan and Canada central banks will also deliver monetary policy decisions.

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Asian equity indices are trading higher; Nikkei is 0.41% higher and the Hang Seng trading 0.82% higher at 26,893. EURUSD trades 0.07% higher at 1.1087; the USDJPY is 0.06% higher at 108.72 while the AUDUSD is 0.08% lower at 0.6815.

The central bank of China set the Yuan rate (USDCNY) at 7.0762 versus yesterday settlement at 7.0749.

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