News of the day. Wednesday 04.11.2015

4 November, 2015

There will not be many important publications on Wednesday. Markets are going to wait for the results of the ECB Non-monetary policy meeting, due at 10 am (all times stated in GMT +2). At the meeting, the ECB officials are going to discuss non-monetary measures used to influence the eurozone economy that could lead to moderate volatility in the Euro. After that, October data on the Markit Services PMI’s is due from Germany (at 10:55 am), the eurozone (at 11 am) and the UK (at 11:30 am) though the index is expected to change only for the UK. In Germany, it will remain at 55.2 points, in the eurozone at 54.2 points, while in the UK it will grow from 53.3 to 54.2 points that might support the Pound. The ADP Employment Change for October is due at 3:15 pm in the US. According to forecasts, the figure will fall from 200 to 181 thousands. The index is thought to be the leading to Non-farm Payrolls data. If forecasts are confirmed that would pressure the USD. The ISM Non-Manufacturing PMI data for October is due at 5 pm in the US and the index is expected to grow from 56.9 points to 57.1 points. In the same hour, Fed Chair Janet Yellen is due to give a speech in Congress, in which she might touch on the future direction in regulator’s monetary policy. RBA’s Governor Glen Stevens Speech is due at 11:45 pm in Melbourne, in which he might express his opinion on the current state of the Australian economy that could have a short-term effect on the AUD.


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