Today the first day of the new trading session for the forex market the economic calendar is very light, but on Friday 6th October 2017, we had important economic data for the US Dollar, with an unexpected negative surprise and a decline for the US non-farm payrolls for the first time since 2010. The forex market will weigh on the impact of the hurricanes for this unusual reading, and although we expect a quiet trading session overall, there could be some increased price action for the US Dollar and its related currency pairs.
These are the main economic events for today:
- Germany Industrial Production
Time: 06:00 GMT
On a monthly basis the reading is expected to show an increase of 0.7%, compared to the previous reading of 0.0%. Rising or increasing figures indicate an increase in the industrial activity and an expansion, a positive factor for the German economy and the Euro.
- Eurogroup Meeting
Time: 08:00 GMT
Any meeting of the ministers of the euro area member states is important as decisions and statements are made on economic policies to promote economic growth in the euro area, and naturally they have the potential to move the Euro.
- Annual Meetings of the WBG and the IMF
Time: 12:00 GMT
The annual meetings of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) are important for fundamental analysis as they provide insights on issues of global concern, a global economic outlook and various events related to the global economy.
- Japan Current Account
Time: 23:50 GMT
The Japanese current account balance measures the total amount of goods, services, income and transfers that flow in and out of the country, with a trade surplus being positive for the Yen, as it reflects higher demand for the currency, which in economic theory should lead in its appreciation against other currencies. The forecast is for a reading of ¥2262.4B, lower than the previous reading of ¥2320B.
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