News of the day. Tuesday 03.11.2015

November 3, 2015

On Tuesday, important macroeconomic statistics are going to be published in the UK, the US, New Zealand and the eurozone. The PMI Construction for October is due at 11:30 am (all times stated in GMT +2) in the UK. The index is expected to remain unchanged at 59.1 points that would show positive dynamics in the construction sector, one of the keys sectors representing the state of the economy, as it stands above the 50-point threshold. Factory Orders for September are due at 5 pm in the US. The index is forecasted to grow from -1.7% to -0.8%. Thus, contraction in the volume of orders will slow but remain that could pressure the US Dollar. At 9 pm, economists expect the Speech by ECB President Mario Draghi at the Opening of the European Cultural Days 2015 in Frankfurt, Germany. In the speech, he could touch upon the current state of the European economy and future monetary policy plans. The Unemployment Rate for the third quarter of the year is due at 11:45 pm in New Zealand. According to forecasts, the figure will grow from 5.9% to 6% that would weaken the NZD. On Tuesday night at 2:30 am, September Retail Sales data is due in Australia that expected to remain unchanged at 0.4%.

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