| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | Germany | Gfk Consumer Confidence Survey | October | -21.9 | -21.5 | -21.2 |
| 07:30 | Switzerland | SNB Interest Rate Decision | | 1.25% | 1% | 1% |
| 08:00 | Eurozone | M3 money supply, adjusted y/y | August | 2.3% | 2.6% | 2.9% |
| 08:00 | Eurozone | Private Loans, Y/Y | August | 0.5% | 0.6% | 0.6% |
USD weakened against other major currencies in the European session on Thursday as investors waited for the release of a slate of important economic data and the remarks from several Federal Reserve officials, including its chair Jerome Powell, later in the day.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, slipped 0.07% from the previous close to 100.84.
Today, investors will focus on the third estimate of the U.S. GDP growth in the second quarter, weekly jobless claims statistics and durable goods orders report for August. Apart from data releases, markets will scrutinize the speeches from several Federal Reserve policymakers, including the comments of its chairman Jerome Powell, who is slated to speak at a Treasury conference in New York.
These events could prompt a recalibration of markets’ rate expectations, which currently see another half-point cut at the Fed’s November meeting. According to CME FedWatch, traders are now pricing a 60.8% probability of the outsized reduction in November. Markets noticeably increased their bets on the 50-basis-point move after a disappointing U.S. consumer sentiment report earlier in the week.
Tomorrow, markets will pay attention to the crucial report on personal income and outlays for August, which contains the U.S. central bank’s preferred inflation gauge.