Market Brief October 18th: Building Permits from the U.S.


The day starts with a speech from the president of the European Central Bank, Mario Draghi and then we have news coming in from the United Kingdom and the U.S.

European Union

EUR 09:10 a.m. GMT + 1, ECB President Draghi Speaks- speeches from the head of the Central Bank have a direct impact on the euro as Draghi delivers comments and discussions of economic conditions that influence interest rates.

GBP 09:30 a.m. GMT +1, Claimant Count Change (Sep) – the number gives us information on the change of unemployed individuals during the month of September. A rising result would suggest weakness for the currency and would have a negative impact on consumer spending and growth of the economy. Expectations for the month of September point to an increase at 1.0K versus -2.8K. A higher than expected number should be seen as a bearish sign for the economy. A lower result, should boost the pound.

United States

USD 13:30 p.m. GMT+1, Building Permits (Sep)- the big event for the day is due from the U.S. We’ll see the change in the number of Building Permits issued from the government. Projections point to a decrease at 1.245 M in September compared to 1.272 M for August. A higher than expected number should influence the dollar positively while a bad result would bring down the price of the currency.

OIL

15:30 p.m. Crude Oil Inventories- analysts expect a decrease in the supply of inventories for this week at -4.750 M compared to last week’s – 2.747M. If we see a cut of production in oil, this should increase the prices of the commodity, However, if there is oversupply, this will should be seen as a strongly bearish sign for oil.

 

 

Wishing you Happy and Successful Trading!

 

Risk Warning: The information above constitutes Marketing Communication and does not constitute Investment Advice or Investment Research. The content of the analysis represents the view of our experts on a generic basis, and do not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the analysis above has not been prepared in accordance with legal requirements designed to promote the independence of Investment Research. Readers using the above information should consider the possibility of encountering substantial losses. Therefore, UR Trade Fix Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the above analysis.”  Further to the above ,Forex Trading involves a substantial Risk of Loss and may not be suitable for all Investors. Please see our Website for details regarding UR Trade Fix Limited’s Trading Terms, Policies and Offerings.Read more.

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