The snapshot of the forex market shows that the EUR is the strongest currency heading into Mario Draghi’s press conference. The weakest is the GBP. House prices in the UK came down today. Industrial Production and Manufacturing Production was a touch stronger. The greenback is mixed.
The strongest and weakest currencies pre-Draghi.
In addition to Draghi, the weekly Initial Claims will be released with the expectations for 285K vs 287K last week. Non Farm Productivity will also be released for the 3Q with a gain of 1.5% expected. The Unit Labor costs are forecast to rise by 0.5%. In Canada, Building Permits will be released at 8:30 AM with expectations of 5% gain vs -27.3% decline. Needless to say, the data can surprise and be volatile. At 10 AM the Ivey PMI Index for October is expected to show a decline to 57.3 from 58.6 in September. This series can also bounce around.
Trends in Initial Jobless Claims
Stocks and Bonds
A snapshot of the stocks and bonds in trading today (pre Draghi)
