Headlines the Economic Calendar on Thursday
German Unemployment rate will be announced today. The market expects the unemployment rate to be 5.6% as the same as a month ago.
Also, German Manufacturing PMI will be announced and it is expected to stay at 60.5 in October according to preliminary numbers. Better than expected realizations may provide some support for EUR/USD parity.
In the UK, The Bank of England will announce its rate decision today.The market expects the BoE hikes interest rates by 25 basis points and doubles the benchmark UK Bank Rate to 0.5%. Note though that no change is expected in either the bank’s £435 billion government bond-buying or its £10 billion corporate bond purchases. We will also receive the BoE’s quarterly Inflation Report.
UK Construction PMI for October will be announced and it is expected to stay at 48.1. Any weakening in the index would be considered negative for the British economy and hurt GBP/USD.
U.S Initial jobless claims will come out today and it is expected to be 235 K, which points to a little rise from previous week’s 233K. Any realization higher than expectations would be negative for the US Dollar
02 Nov 17 (Thu)
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