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Economic calendar (GMT0):
Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual
00:30 Australia Gross Domestic Product (YoY) Quarter III 1.9% Revised From 2.0% 2.3% 2.5%
00:30 Australia Gross Domestic Product (QoQ) Quarter III 0.3% Revised From 0.2% 0.7% 0.9%
01:00 U.S. FOMC Member Brainard Speaks
The euro declined against the U.S. dollar ahead of an ECB meeting. Many investors expect the bank to decide to expand its quantitative easing program. Speaking earlier at a European Banking Congress in Frankfurt ECB President Maria Draghi said that at the next meeting the central bank will assess the degree of stability of factors, which hold back inflation. He added if the 2% inflation target was at risk the central bank would use all tools available to support it.
Today the Bank of Canada will make a decision on its benchmark rate and release an accompanying statement explaining economic conditions, which determined the decision. Persistent low commodity prices keep weighing on the country's economy. The Bank of Canada has cut its rates twice this year to offset the impact of falling oil prices.
The Australian dollar was supported by optimistic GDP data. The Australian Bureau of Statistics reported that the economy had expanded by 0.9% in the third quarter compared to Q2 and by 2.5% compared to the same period in 2014. These data were in line with expectations.
EUR/USD: the pair fell to $1.0610 in Asian trade
USD/JPY: the pair rose to Y123.10
GBP/USD: the pair fell to $1.5060
The most important news that are expected (GMT0):
(time / country / index / period / previous value / forecast)
09:30 United Kingdom PMI Construction November 58.8 58.2
10:00 Eurozone Producer Price Index, MoM October -0.3% -0.4%
10:00 Eurozone Producer Price Index (YoY) October -3.1% -3.2%
10:00 Eurozone Harmonized CPI ex EFAT, Y/Y (Preliminary) November 1.1% 1%
10:00 Eurozone Harmonized CPI, Y/Y (Preliminary) November 0.1% 0.2%
12:00 U.S. MBA Mortgage Applications November -3.2%
13:10 U.S. FOMC Member Dennis Lockhart Speaks
13:15 U.S. ADP Employment Report November 182 190
13:30 U.S. Nonfarm Productivity, q/q (Finally) Quarter III 3.3% 2.2%
13:30 U.S. Unit Labor Costs, q/q (Finally) Quarter III -1.8% 1.1%
15:00 Canada Bank of Canada Rate 0.5% 0.5%
15:00 Canada BOC Rate Statement
15:30 U.S. Crude Oil Inventories November 0.961 -1.250
17:25 U.S. Fed Chairman Janet Yellen Speaks
19:00 U.S. Fed's Beige Book
20:40 U.S. FOMC Member Williams Speaks
22:30 Australia AIG Services Index November 48.9
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