The most important economic statistics for this week include:
- U.S. durables goods orders are due to be announced at 12:30 pm GMT on Wednesday. The data for August is expected to rise by almost 5%. Since durable goods orders are an indicator of manufacturing, the dollar could be supported if these expectations are confirmed.
- German preliminary inflation rate at 12:00 GMT, Thursday. Market consensus predicts a drop of 1.5% in September, bringing the total to 4.6%. If the market consensus is accurate, it will most likely influence the European inflation rate the next day.
- U.S. growth rate of GDP will be released on Thursday at 12:30 PM GMT. Market participants expect this figure to be 2,2% above the previous reading of 2% for the quarter. If this confirms, we may see a short-term boost for the dollar.
- Flash European Inflation Rate on Thursday, 9:00 AM GMT. It is expected that the rate for September will drop from its previous reading of 5,2% to 4,5%. This could have a negative impact on the Euro’s value against its pair, at least for the short-term.
- The U.S. PCE core will be released on Thursday, 12:30 PM GMT. The market expects this figure…
