News of the day. Wednesday 11.11.2015

November 11, 2015

Today the main suppliers of macroeconomic data are going to be the UK, the eurozone and Australia. The UK’s labour market data is due at 11:30 am (all times stated in GMT +2) that includes the ILO Unemployment Rate and Claimant Count Change for October. According to forecasts, the unemployment will stay unchanged at 5.4%, while the number of claimants will fall to 1.5 thousands, against 4.6 thousands a month earlier. If forecasts are confirmed it could support the Pound for a short while. In addition, the BOE’s Governor Carney speech is due at 12:30 pm in which he could comment on the current economic state and monetary policy in the country. His speech may lead to an increased volatility in pairs with the Pound. At 3:15 pm, ECB President Draghi will appear on the Open Forum in London with his speech on “Building real markets for the good of the people”, in which he might touch on economic conditions in the eurozone. On Wednesday night at 2:30 am, October labour market data is due in Australia. According to forecasts, the Unemployment Rate will remain unchanged at 6.2%, while the Employment Change is expected to increase to 15 thousands, against a contraction of more than 5 thousands in the previous month. If forecasts match the real figures, the Australian Dollar could receive a substantial support. 

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