Amid lack of first-tier macroeconomic releases, the TD Securities analysts offer a list of key events that will provide some impetus in the day ahead.
Key Quotes:
“EUR The ECB's Chief Economist Philip Lane speaks in London at 1pm on the economic outlook and monetary policy for the Eurozone. There will also be a Q&A, which will give Lane ample opportunity to delve into the economic impact of the ECB's policy announcement, and give us a better idea of how much and what kind of further easing we may see at some point in the future.
CAD Existing home sales for August will be published at 9AM with the market looking for an increase of 1.5% m/m. If realized, this would represent the sixth consecutive pickup in monthly sales activity and bolster expectations for further gains in residential investment for Q3, complementing recent strength in housing starts. International securities transactions for July will round out the data calendar.
USD The Empire Manufacturing Index is expected to have pared back modestly to 4.0 in September from 4.8 before. Although the index has shown some consolidation after the massive June drop, it remains at odds with the performance of the more widely-tracked ISM manufacturing index, which has continued to underperform in recent months.”
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