by Damian -
The European economic calendar kicks off with September unemployment data, but focus will likely fall on the ECB rate decision later in the afternoon. With Inflation still well below target and the September core CPI measure falling by more-than-expected this week, the question going into the meeting will be where next for the policy?
August euro area producer prices are also scheduled for release this morning as is the UK construction PMI. The improving UK has helped propel sterling higher, with traders betting on the prospect for higher borrowing costs. The pound is the best performer over the past year in a basket of 10 major currencies tracked by Bloomberg.
In the US initial jobless claims data for the week ending September 27th and August factory orders are both on this afternoons calendar. On Friday we have the non-farms payrolls data for the US.
MORNING MARKET RATES:
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P.S. WHY NOT TAKE ADVANTAGE OF THE STRONG GBP AND LOOK AT SECURING EUROS ON A FORWARD CONTRACT FOR UP TO 2 YEARS IN ADVANCE. WE ONLY REQUIRE A 3% GBP DEPOSIT TO SECURE A RATE GIVING YOU PEACE OF MIND AGAINST RATE FLUCTUATIONS.