Charting the Course: Europe Economic Outlook in Focus

Stay informed with our Europe Economic Outlook in Focus. Get insights on critical events and currencies’ outlook for trading.

Asian Session Recap

In China, October’s CPI and PPI readings revealed a return to disinflationary territory, with consumer and producer inflation contracting due to weak retail spending and an unexpected decline in manufacturing activity. This contraction was driven by worsening economic conditions in China’s major export destinations, leading to a sharper export decline than anticipated.

The global demand weakened further as China’s exports dwindled, causing crude oil prices to reverse their early gains. WTI oil dropped from $76.00 per barrel to around $75.40, and analysts anticipate continued pressure on oil prices.

Implications for Europe & US Sessions

Unemployment claims in the US have been trending higher in recent weeks, surpassing estimates, which typically acts as a bearish catalyst for the US dollar. After an overnight speech offering a few clues, During his panel discussion titled “Monetary Challenges in a Global Economy” in Washington, DC, we anticipate Federal Reserve Chair Jerome Powell will provide more insights into the monetary policy outlook. Any hints of a hawkish stance could influence market sentiment.

Charting the Course – Europe Economic Outlook in Focus

Dollar Index (DXY)

• Unemployment Claims (1:30 pm GMT)
• Fed Chair Powell Speaks (7:00 pm GMT)
• Expectation: Medium Bearish

Gold (XAU)

• Unemployment Claims (1:30 pm GMT)
• Fed Chair Powell Speaks (7:00 pm GMT)
• Expectation: Weak Bullish

Australian Dollar (AUD)

• No major news events
• Expectation: Weak Bullish

New Zealand Dollar (NZD)

• No major news events
• Expectation: Weak Bullish

Japanese Yen (JPY)

• No major news events
• Expectation: Weak Bullish

Euro (EUR)

• ECB President Lagarde Speaks (5:30 pm GMT)
• Expectation: Medium Bullish

Swiss Franc (CHF)

• No major news events
• Expectation: Weak Bullish

British Pound (GBP)

• No major news events
• Expectation: Weak Bullish

Canadian Dollar (CAD)

• No major news events
• Expectation: Weak Bearish

Oil

• No major news events
• Expectation: Medium Bearish

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