Early in the day, FOMC Member Harker’s speech and Australia’s Q3 wage price index were released. The wage price index came in at 0.8%, slightly below the expected 0.9% but unchanged from the previous quarter, signaling stable wage growth in Australia.
In Europe, the European Central Bank’s (ECB) policy meeting and a speech by Bank of England (BoE) Member Mann are key events being closely watched by markets. Additionally, Germany’s 10-year bond auction is expected to draw significant investor interest, given its potential implications for the Eurozone bond market.
In the U.S., the core CPI data is expected to remain steady at 0.3% month-over-month and 3.3% year-over-year, while the headline CPI is forecasted at 0.2% monthly and 2.6% annually. These figures are crucial for gauging inflationary pressures and their implications for the Federal Reserve’s monetary policy. Around the same time, speeches by FOMC Members Kashkari and Williams could provide additional insights into the Fed’s rate policy and inflation targets.
Later in the day, Russia’s CPI is projected at 0.9%, and Q3 GDP data, previously recorded at 4.1%, could influence the Russian ruble (RUB). In the evening, the U.S. Energy Information Administration (EIA) will release its short-term energy outlook, followed by the U.S. federal budget balance report, which is expected to show a significant widening of the budget deficit to -$226.4 billion. This report could provide important insights into the U.S. fiscal position and spending trends.
Overall, today’s events could bring volatility to currencies including the USD, EUR, GBP, and RUB. Investors are advised to monitor these key releases and speeches closely for potential market impacts.
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