News of the day. Monday 05.10.2015

5 October, 2015

Monday is not going to have plenty of important macroeconomic statistics and markets will be resting after busy Friday. However, attention needs to be paid to Retail Sales data for August from the eurozone, due at 12 pm (all times stated in GMT +3). These figures can differentiate from one another. For example, in July sales grew by 0.4% in monthly terms and by 2.7% on the previous year. Nevertheless, positive tendency continuation would lead to strengthening in the Euro. At 11 am, Markit Services PMI data for September is due in the eurozone, while at 5 pm ISM Non-Manufacturing PMI is due in the US. Both figure are expected to come out significantly higher than 50 points threshold. On Monday night at 6:30, the RBA Interest Rate Decision is going to be published, while economists expect the rate to remain at its current 2%. At the same time, market participants will pay close attention to the RBA Rate Statement, in which the regulator is going to share its view on the Australian economy and its future prospects. 


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Brent: will oil market swing back to pessimism?

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