News of the Day. Friday 25.09.2015

September 25, 2015

On Friday, the key macroeconomic release is Gross Domestic Product Annualized, due at 3:30 p.m. (GMT+3) in the US. The indicator is expected to remain at the same level of 3.7% which agrees with preliminary data. It should be noted that Personal Spending and Retail Sales grew in the second quarter, thus, the GDP forecast is likely to pan out, and, as a result, the USD will strengthen.

Attention should also be paid to Markit Services PMI for September, due at 4:45 p.m. (GMT+3) in the US. The indicator is similar to Markit Manufacturing PMI, but these are purchasing managers of the largest enterprises in the services sector who assess current economic situation. According to preliminary data, Manufacturing PMI remained unchanged at 53.0 points, while Services PMI, on the contrary, may decline from 56.1 to 55.6 points that is still highly above the key level of 50.0 points, a reading below which indicates a starting slowdown in the sector.

Moreover, German Buba President Weidmann speech is due at 10:00 a.m. (GMT+3) in Florence, but it is unlikely to shed light on prospects of the EU monetary policy. At 5:00 p.m. (GMT+3) the US releases Reuters/Michigan Consumer Sentiment Index, which is expected to grow from 85.7 to 86.9 points.

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