Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
00:00 China Bank holiday
03:00 Japan BoJ Interest Rate Decision 0% 0%
03:00 Japan Bank of Japan Monetary Base Target 275 275
03:00 Japan BoJ Monetary Policy Statement
05:00 Japan Coincident Index (Preliminary) August 113.1 112.5
05:00 Japan Leading Economic Index (Preliminary) August 105 103.5
06:00 Germany Industrial Production s.a. (MoM) August 1.2% Revised From 0.7% 0.2% -1.2%
06:00 Germany Industrial Production (YoY) August 0.8% Revised From 0.5% 2.3%
06:30 Japan BOJ Press Conference
06:45 France Trade Balance, bln August -3.2 Revised From -3.3 -3.5 -2.98
07:00 Switzerland Foreign Currency Reserves September 540 541.5
08:30 United Kingdom Industrial Production (MoM) August -0.3% Revised From -0.4% 0.3% 1.0%
08:30 United Kingdom Industrial Production (YoY) August 0.7% Revised From 0.8% 1.2% 1.9%
08:30 United Kingdom Manufacturing Production (MoM) August -0.7% Revised From -0.8% 0.3% 0.5%
08:30 United Kingdom Manufacturing Production (YoY) August -1.2% Revised From -0.5% -0.1% -0.8%
11:00 U.S. MBA Mortgage Applications October -6.7% 25.5%
The U.S. dollar traded lower against the most major currencies in the absence of any major economic reports from the U.S. today.
The euro traded higher against the U.S. dollar despite the negative industrial production data from Germany. Destatis released its industrial production data for Germany on Wednesday. German industrial production slid 1.2% in August, missing expectations for a 0.2% gain, after a 1.2% rise in July. July's figure was revised up from a 0.7% increase.
The output of capital goods decreased 2.1% in August, energy output dropped 1.4%, and the production in the construction sector was down 1.3%, while the production of intermediate goods was flat.
The output of consumer goods decreased 0.4%.
German industrial production excluding energy and construction fell by 1.1% in August.
The British pound traded higher against the U.S. dollar after the positive industrial data from the U.K. The Office for National Statistics (ONS) released its manufacturing industrial production figures for the U.K. on Wednesday. Manufacturing production in the U.K. rose 0.5% in August, exceeding expectations for a 0.3% gain, after a 0.7% decrease in July. July's figure was revised up from a 0.8% drop.
Manufacturing output was driven by a rise in the vehicle production.
On a yearly basis, manufacturing production in the U.K. decreased 0.8% in August, missing forecast of a 0.1% fall, after a 1.2% drop in July. July's figure was revised down from a 0.5% decrease.
Industrial production in the U.K. climbed 1.0% in August, beating forecasts of a 0.3% rise, after a 0.3% fall in July. July's figure was revised up from a 0.4% decline.
On a yearly basis, industrial production in the U.K. gained 1.9% in August, exceeding expectations for a 1.2% rise, after a 0.7% increase in July. July's figure was revised down from a 0.8% rise.
The increase was driven by adjustments in the ONS calculations. The extraction industry in the British North Sea was working at full capacity after shutdowns and maintenance work in July. A small increase in gas production also supported the industrial production.
The Canadian dollar traded higher against the U.S. dollar ahead of the release of the building permits data from Canada. The Canadian building permits are expected to rise 0.8% in August, after a 0.6% decline in July.
EUR/USD: the currency pair increased to $1.1274
GBP/USD: the currency pair rose to $1.5315
USD/JPY: the currency pair climbed to Y120.18
The most important news that are expected (GMT0):
12:30 Canada Building Permits (MoM) August -0.6% 0.8%
14:00 United Kingdom NIESR GDP Estimate September 0.5%
23:50 Japan Core Machinery Orders September -3.6% 3.2%
23:50 Japan Core Machinery Orders, y/y August 2.8% 4.2%