30 Oct 2013
European open: Key German data before Fed announcement this afternoon
FXstreet.com (London) - Today will see the conclusion of the Federal Reserve’s two-day FOMC meeting with an announcement at 14:00 EST (18:00 GMT). Given the weakness in US labour market statistics and consumer sentiment surveys, it is likely that we will see the Fed strike a more dovish tone and solidify expectations of any tapering of its asset purchase programme being delayed until at least March 2013.
We will also see the release of US inflation numbers, delayed because of the US government shutdown earlier in the month. Inflation is expected to come in up 0.2 percent month-on-month, with goods inflation subdued.
The S&P and the Dow both climbed on expectations of continuing Fed support – up 0.56 percent and 0.72 percent respectively.
In Europe, we have a number of policymakers set to speak, as well as key data from Germany. German unemployment is expected to come in flat, but there is a chance of a miss, given the surprisingly high 25k jump last month. The CPI flash estimate is expected to see a slight decline to 1.3 percent year-on-year and will be followed by regional numbers.
EUR/USD is flat at USD1.3743, clawing back any dollar strength in the pair overnight.
In Norway, the consensus is for a 0.5 percent rise month-on-month in retail sales, clawing back disappointing numbers in June and July.
EUR/NOK is currently down 0.05 percent on choppy trading. NOK/SEK is up 0.05 percent to SEK1.0818.
We will also see the release of US inflation numbers, delayed because of the US government shutdown earlier in the month. Inflation is expected to come in up 0.2 percent month-on-month, with goods inflation subdued.
The S&P and the Dow both climbed on expectations of continuing Fed support – up 0.56 percent and 0.72 percent respectively.
In Europe, we have a number of policymakers set to speak, as well as key data from Germany. German unemployment is expected to come in flat, but there is a chance of a miss, given the surprisingly high 25k jump last month. The CPI flash estimate is expected to see a slight decline to 1.3 percent year-on-year and will be followed by regional numbers.
EUR/USD is flat at USD1.3743, clawing back any dollar strength in the pair overnight.
In Norway, the consensus is for a 0.5 percent rise month-on-month in retail sales, clawing back disappointing numbers in June and July.
EUR/NOK is currently down 0.05 percent on choppy trading. NOK/SEK is up 0.05 percent to SEK1.0818.