News of the day. October 16, 2013

October 16, 2013

Today investors’ attention is draw to the Europe where September CPI of Eurozone and UK labour market data are going to be published.

Unemployment rate in Great Britain won’t probably change and will remain the same second month in a row at the level of 7.7%. This rate may be considered as positive, because annual trend is downward. Unemployment rate slowly decreases but it is still not enough to revise UK monetary policy. According to Mark Carney definitive level is 7.0%. If the forecast is true, the pair GBP/USD will go up to the levels of 1.6005 and even 1.6020.

Consumer Prices index of Eurozone, which is main indicator of the inflation, should decrease from 1.3% to 1.1%. Core CPI may also slightly decrease, causing EUR/USD to rise up to the level of 1.3540.

Among US macroeconomic stats the main for today is  Beige Book, the report of FRS on the state of American economic. The report is published eight time a year, it gathers the information from twelve Reserve Banks of the country and contains information on current economic conditions. This release may lead to QE programs reduction in USA.

Dmitriy Zolotov

Analyst of LiteForex Group of Companies

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