Money News Overview Tuesday 17th October 2023: Market sentiment is upbeat to start the week

The major currency pairs remained closely range-bound. The sluggish price movement on the markets was probably caused by a scant data schedule. The dollar moved very slightly lower, which is one of the few changes worth noting. 

UK average earnings figures had already published below estimates today. In the three months leading up to August, wages increased by 8.1% Y/Y (vs.+8.3% Y/Y) Following the news, hopes for a UK rate increase have slightly weakened. 

Market statistics like the unemployment rate. The US industrial production, September retail sales, and the German ZEW survey are all due later today. Numerous Fed officials’ comments will certainly get notice.

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