News of the day. Wednesday on 16.09.2015

September 16, 2015

The most important macroeconomic publications that are due on Wednesday are Consumer Price Indexes for the eurozone and the US. However, other important publications should not be overlooked. At 11:30 am (all times stated in GMT +3) labour market data comes out in the UK. Since the beginning of the year, the ILO Unemployment Rate in the country remains between 5.6% and 5.7%, and again it is forecasted to stay unchanged at 5.6%. Meanwhile, the Claimant Count Change is going to fall by 5 thousand, which positively charachtarises the state of the labour market in the UK. The less important publications include Average Earnings including Bonus and Average Earnings excluding Bonus. The indices are forecasted to increase for the last 3 months from 2.4% to 2.5%, and from 2.8% to 2.9% accordingly.

At 12 pm, the Consumer Price Index for August is due in the eurozone, and at 4:30 pm – in the US. The Consumer Price Index is the major inflation indicator that is used by monetary authorities in most of the countries in their decision-making. On a month-to-month basis, the index for the eurozone is expected to grow from -0.6% to 0%, and remain unchanged at 0.2% on early basis. This low increase also shows that the QE program for the eurozone is not bringing a result the ECB expected and inflation is far from its 2% target. On the other hand, the monthly CPI in the US can fall from 0.1% to 0%, though remain unchanged at 0.2% in early terms. That represents a near-deflation state of the American economy and can force the Fed to delay its interest rate increase. The less important publications include the weekly EIA Crude Oil Stocks Change report that has big influence on commodities markets, due at 5:30 pm.

On Wednesday night, investors are going to follow the news from the Asian and the Pacific Ocean region markets. At 1:45 am, the New Zealand GDP for the second quarter is due. This is one of the most important indices representing the state of the economy. The quarterly Gross Domestic Product (QoQ) is expected to grow from 0.2% to 0.5%, but the more important yearly GDP (YoY) figure is going to decrease from 2.6% to 2.5%, which would happen for the second quarter in a row and may weaken the NZD.

The Trade Balance data for August is due in Japan at 2:50 am. Merchandise Trade Balance Total is expected to show a deficit increase by 541.3 million, Imports (YoY) decrease by 2.2%, and Exports (YoY) grow by 4%, which is significantly worse than the previous figures and may weaken the Yen.

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