News of the day. Thursday 05.11.2015

November 5, 2015

The most important event on Thursday is going to happen in the UK, where the Bank of England will hold its meeting and at 1 pm (all times stated in GMT +2) will make its Interest Rate Decision. Markets do not expect the regulator to change the rate in current economic conditions, which would remain at 0.5%. The BOE Asset Purchase Facility is also expected to remain unchanged at 375 billion Pounds. The closest attention will be paid to BOE’s Governor Mark Carney speech at 2:45 pm. Investors are going to be looking for hints on future plans in regulator’s monetary policy.

In addition, on Thursday attention needs to be paid to October data on the Consumer Price Index in Switzerland, due at 10:15 am. Here, just as in other European countries inflation remains in negative territory. According to forecasts, on a year-to-year basis the index will remain at -1.4% and will fall from 0.1% to 0% against the previous month. The Bank of England Quarterly Inflation Report is due at 11:30 am. Data on Initial and Continuing Jobless Claims are due in the US at 3:30 pm. These indices are not as important by themselves but their averaged figures can act as leading indicators to the most important Non-farm Payrolls. Data on Ivey Purchasing Managers’ Index is due at 5 pm in Canada. The index is forecasted to grow from 53.7 to 54.0 points that would support the Canadian dollar. On Thursday night at 01:30 am, the RBA Monetary Policy Statement is due that traditionally attracts investors’ attention who are looking to find out regulator’s opinion on the current state of the Australian economy.

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