The dollar is starting the day strong, continuing its gains from October. While tensions in the Middle East are calming down, oil prices are adjusting accordingly. On Wall Street, the S&P 500 hit another record high in light trading.
Looking ahead, the UK labor market report is something to keep an eye on. However, it’s important to note that the Office for National Statistics (ONS) has expressed uncertainty about the data accuracy due to changes in data collection methods this year. This makes it difficult to interpret what the labor market data is really indicating.
The Bank of England (BOE) has been factoring in this uncertainty in their decisions over the past few months. This could explain the unclear trend in the unemployment rate as shown in the previous report.
Additionally, final inflation figures for September will be released for Spain and France. The European Central Bank (ECB) is closely monitoring the economy as inflation pressures have been easing lately.
To conclude the morning trading session in Europe, the German ZEW survey will be released. This survey may shed more light on the current state of the German economy.
In summary, here are the key economic events scheduled for today:
– Germany September wholesale price index at 0600 GMT
– UK September payrolls change at 0600 GMT
– UK August ILO unemployment rate and employment change at 0600 GMT
– UK August average weekly earnings at 0600 GMT
– France September final CPI figures at 0645 GMT
– Spain September final CPI figures at 0700 GMT
– Eurozone August industrial production at 0900 GMT
– Germany October ZEW survey economic sentiment at 0900 GMT
As you navigate through the trading day, remember to stay informed and trade wisely. Wishing you all a successful day ahead and safe trading!
