Tuesday updates: what’s happening in the forex world?

Chris Lee

Now that the foreign exchange week is well underway, it’s time for an update on what’s happening this week.

Today (Tuesday) is packed on the central banking action front, and there are many central bankers around the world scheduled to make speeches over the course of the day.

At lunchtime in the GMT time zone, the US Federal Reserve’s, Richard Clarida, will speak at 12:50pm GMT.

This will be followed by a speech at 1:15pm GMT from James Bullard, who is the president of the Federal Reserve Bank of St. Louis.

Michelle W. “Miki” Bowman”, who is a governor of the Federal Reserve, will speak shortly after at 1:30pm GM.

Later in the afternoon, the president of the European Central Bank – Mario Draghi – is scheduled to make a statement.

He is expected to speak at 4:45pm GMT.

The president of the German Bundesbank, Dr. Jens Weidmann, will speak at 5:30pm GMT.

Looking ahead to tomorrow (Wednesday), the day will kick off with a number of consumer price index-related releases.

Japanese consumer confidence figures for August are due out at 5am GMT.

These are expected to show a change from 37.1 to 36.9.

Swiss consumer price index details for September are due out at 6:30am GMT.

These are expected to show a change from 0.0% to 0.1% on a month on month basis when they are released.

Spanish unemployment change data for September is due at 7am GMT.

This was last recorded at 54,400.

There are several public holidays in major economies around the world scheduled in for Wednesday, which could affect the volume of trading at the midweek stage.

The Chinese National Day is due to take place on Wednesday, while the Day of German Unity is also scheduled to happen then.

Looking ahead to Thursday, there are more central banker speeches lined up.

The Bank of Japan’s Yukitoshi Funo, who sits on the Bank’s Policy Board, will speak at 1am GMT.

Additionally, there will be a speech at 6:45am GMT from Charles L. Evans, who is president and CEO of the Federal Reserve Bank of Chicago.

There’ll be another from Luis De Guindos, who is the vice president of the European Central Bank, at 7:45am GMT.

Europe-wide producer price index data for August will be out at 9am GMT.

This is expected to show a month on month change from 0.2% to -0.2%.

Year on year, the change is expected to be somewhat steeper – and to go from 0.2% to -0.4%.

Later in the day will be the usual round of US jobs data releases.

Initial jobless claims for the dates around 27th September will be out at 12:30pm GMT and are expected to show a change from 213,000 to 215,000.

Continuing jobless claims for the dates around 20th September will be out at 12:30pm GMT as well.

These are expected to show a change from 1,650,000 to 1,652,000 – indicating the possibility of slight, but not insignificant, risks to the future of the US labour market.


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Chris Lee
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