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Forex Focus on UK GDP and Dallas Fed Manufacturing Index


European trading week starts with German Retail Sales which will be released at 6:00GMT, the German Unemployment Rate is due at 7:55GMT; EU Unemployment Rate will be released at 9:00. In Great Business the UK Business Investment (quarter over quarter) and UK GDP (q/q and y/y) will be out at 8:30GMT.

In the American forex calendar we have the MNI Chicago Business Barometer due 13:45 and the Dallas Fed Manufacturing Index at 14:30GMT.

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In Asian trading session the Japan Housing Starts (YoY) came in at -7.1%, below expectations (-6.1%) in August, Japan Industrial Production (YoY) came in at -4.7% below expectations (-1.8%) in August. Japan Retail Trade (YoY) came in at 2%, beating forecasts of 0.9% in August.

The China Caixin Manufacturing PMI came in at 51.4, above expectations of 50.2 in September; China composite PMI for September came in at 53.1, previous reading was 53.0.

Australia Private Sector Credit (MoM) came in at 0.2% below forecasts of 0.3% for August.

New Zealand ANZ Business Confidence came in at -53.5, topping expectations of -58.5 in September.

Asian indices are trading mixed today, Nikkei is 0.56% lower at 21,755, the Hang Seng is 0.52% higher at 26,092. EURUSD trades 0.08% lower at 1.0931; the USDJPY is 0.08% lower at 107.84 while the AUDUSD is 0.17% lower at 0.6749.

The central bank of China set the Yuan rate (USDCNY) at 7.0729 versus Friday’s fix at 7.0731.

Brexit developments, trade tensions and political turbulence in Capitol Hill will continue to have a significant impact on forex markets.Download our latest quarterly market outlook for our longer-term trade ideas.

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