News of the day. Friday 23.10.2015

October 23, 2015

The main publication on Friday is going to be October data on Markit Manufacturing and Services PMI’s for Germany, the US and the eurozone. The PMI represents opinions of purchasing managers from the biggest companies in manufacturing and services sectors regarding current state of the economy and its prospects. The threshold in the index is 50 points, below which these sectors are thought to be contracting.

Preliminary data on October PMI’s in Germany is due at 10:30 am (all times stated in GMT +3). The Services PMI is expected to fall to 53.9 points, while the Manufacturing PMI is going to fall from 52.3 to 51.7 points.

The eurozone statistics is due at 11 am and expected to come out with a decrease as well. In October, the Manufacturing PMI might fall from 52.0 to 51.8 points, while the Services PMI is going to decline from 53.7 to 53.5 points that would pressure the Euro.

October data on Markit Manufacturing PMI from the US that is considered a preliminary figure to the official federal index is due at 4:45 pm. According to forecasts, the index is going to fall from 53.1 to 52.8 points.

Attention should also be paid to the publication of September data on the Consumer Price Index from Canada, due at 3:30 pm. On a year-to-year basis, the index is expected to decline from 1.3% to 1.1%, while on a month-to-month basis it will fall to -0.1% to show deflation for the first time since April this year. Forecasts confirmation is going to pressure the Canadian Dollar.

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