| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | United Kingdom | GDP, q/q | Quarter II | 0.7% | 0.6% | 0.5% |
| 06:00 | United Kingdom | GDP, y/y | Quarter II | 0.3% | 0.9% | 0.7% |
| 08:30 | United Kingdom | Consumer credit, mln | August | 1.231 | 1.07 | 1.295 |
| 08:30 | United Kingdom | Mortgage Approvals | August | 62.5 | 63.8 | 64.86 |
| 08:30 | United Kingdom | Net Lending to Individuals, bln | August | 4 | 4.1 | 4.2 |
EUR strengthened against other major currencies in the European session on Monday as investors waited for the release of the euro area inflation report for September, due on Tuesday, which could influence markets’ expectations on the European Central Bank’s rate cuts.
The preliminary CPI data from the major states of Germany, released this morning, indicated that annual inflation in the Eurozone’s largest economy eased this month, albeit slower than in France and Spain (both countries posted their flash CPI figures last week).
Germany’s nationwide inflation data will be announced today at 12:00 GMT. Economists forecast that the data will show that consumer prices in the country rose 1.7% YoY in September, slowing from 1.9% YoY in August.
Tomorrow, investors will receive the inflation data for the entire euro area, which are expected to show that price pressures continued to moderate in September, with the region’s headline CPI coming in at 1.9% YoY, down from 2.2% YoY the previous month.
Ahead of the crucial inflation release, expectations are that the ECB, which has already reduced its rates twice this cycle, will deliver two more 25-basis-point decreases by the end of the year.