It’s a relatively calm start to what should be a busy week for data releases, notably in the United Kingdom. Because there will be no major data releases, the market’s attention will be drawn to ongoing tensions in the Middle East, as well as statements from major central bank officials in the run-up to the next round of policy announcements.
Pound Sterling appears to be under pressure versus the Euro after a seven-day recovery was reversed at the conclusion of last week; attention in the coming days will be supplied by UK wage and inflation data.
The all important September inflation figures are out on Wednesday, and the market expects headline inflation to decline to 6.5% year on year from 6.7%.but the month-on-month number is expected to jump from 0.3% to 0.4%
Retail sales and industrial production for September, as well as a variety of housing market updates, are due in the United States. However, comments from several Fed speakers may have a greater impact on the dollar. The data calendar in the Eurozone is quite light.