| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Germany | Retail sales, real adjusted | September | 1.2% | -0.5% | 1.2% |
| 07:45 | France | CPI, y/y | October | 1.1% | 1.1% | 1.2% |
| 07:45 | France | CPI, m/m | October | -1.2% | 0.2% | 0.2% |
| 10:00 | Eurozone | Unemployment Rate | September | 6.3% | 6.4% | 6.3% |
| 10:00 | Eurozone | Harmonized CPI, Y/Y | October | 1.7% | 1.9% | 2.0% |
| 10:00 | Eurozone | Harmonized CPI ex EFAT, Y/Y | October | 2.7% | 2.6% | 2.7% |
| 10:00 | Eurozone | Harmonized CPI | October | -0.1% | 0.1% | 0.3% |
USD traded mixed against other major currencies in the European session on Thursday as investors awaited the release of the Federal Reserve’s preferred inflation metric later in the day, which could impact markets’ expectations on the U.S. central bank’s rate cut path.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, edged 0.01% from the previous close to 104.00.
Investors will receive the Fed’s favourite inflation gauge - the core personal consumption expenditures (PCE) price index - when the U.S. September personal income and outlays report is released (at 12:30 GMT). Economists forecast the indicator increased 2.6% YoY in September, decelerating from 2.7% YoY.
Today’s report will follow ADP’s data, which showed a larger-than-expected jump in private-sector payroll of 233,000 in October, and advance U.S. Q3 GDP report, which indicated a solid growth in the economy, boosted by consumer spending, prompting investors to slightly trim their bets on a rate cut at the Fed’s November 7 meeting.
Tomorrow, markets will focus on the much-anticipated non-farm payroll report for October.
Investors will parse data for clues on the U.S. economy’s performance and the Fed's policy easing path.