Morning wrapup
|Key messages
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Speeches from New York Fed President William Dudley and Dallas Fed President Robert Kaplan are strongly Fed and US Dollar related.
Wednesday’ s market moving events
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ECB’s president Mario Draghi is due to deliver opening remarks at the ECB conference, in Frankfurt at 8:10 GMT
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The UK labor market report is due at 8:30 GMT with unemployment seen flat at 4.3% and wage growth rising 2.1%.
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New York Fed President William Dudley and Dallas Fed President Robert Kaplan to speak on New York & Texas as Centers of Growth breakfast conversation at Hearst, in New York at 12:00 GMT.
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The International Energy Administration releases oil market report at 14:30 GMT.
Tuesday’ s forex movers
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Sterling was a market mover of Tuesday falling more than 0.7% on a day after Mark Carney sounded very dovish in terms of tah rate outlook at the TSC hearing.
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Euro keeps continuously sliding lower vs US Dollar but managed to recover late on Tuesday.
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EUR and GBP are of major market focus on Wednesday with Draghi speaking and the UK labor market report highlighting the day.
Tuesday’s macro summary
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UK CPI rose 3.0% y/y in September, the highest since 2012 due to rising prices for food and recreational goods, along with transport costs, which fell by less than they did a year ago.
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German ZEW index of investors’ sentiment rose 0.6 points to 17.6 in October, failing to meet market expectations.
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Eurozone final CPI rose 1.5% y/y in September, still far away from ECB’s 2% inflation target.
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The Bank of England Governor Carney expressed less willingness to hike the Bank rate this November at the parliamentary hearing saying “the rate hike might be appropriate”.
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US import prices rose 0.7% m/m in September beating the market forecast of 0.5% m/m increase.
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US industrial production rose 0.3% m/m in September after hurricane damaged August fell -0.9% m/m.
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Philadelphia Fed president Patrick Harker spoke about regional and community development not about the monetary policy.
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