Macro agenda: BoE rate decision and US jobless claims lead Thursday's calendar
The Bank of England decides on rates at 12:00 UTC on Thursday, with Italian retail sales and US jobless claims also due. EU inflation stood at 4% in October.
- 01The Bank of England announces its rate decision at 12:00 UTC; the estimate is 4%, against a previous 3.75%
- 02EU inflation was 4% in October, against an estimate of 4% and a previous 3.8%
- 03US ISM Services PMI was 54.5 in October, against an estimate of 54.8 and a previous 54.9
- 04EUR/USD stands at 1.1266, up 0.28%, while Brent is at 94.09, down 0.56%
Thursday's macro agenda includes the Bank of England rate decision at 12:00 UTC, with an estimate of 4% against a previous 3.75%. Italian retail sales and US weekly jobless claims are also due.
What happened
On Wednesday, EU inflation for October came in at 4% year on year, against an estimate of 4% and a previous 3.8%. The price index stood at 104.77, against an estimate of 104.6 and a previous 104.31.
In the United States, ADP employment change for October was 86 thousand, against an estimate of 69 thousand; the previous reading was 86 thousand. The ISM Services PMI was 54.5, against an estimate of 54.8 and a previous 54.9.
As of 07:01 UTC on Thursday, EUR/USD stands at 1.1266, up 0.28% from the previous close of 1.1235. Brent crude is at 94.09, down 0.56% from 94.62.
Why it matters
EU inflation at 4% in October compares with 3.8% in the previous reading. The index level of 104.77 compares with 104.31 previously.
In the US, the ISM Services PMI was 54.5 against a previous 54.9. ADP employment change was 86 thousand against a previous 86 thousand.
The Bank of England decision is among the high-impact releases of the day. The estimate is 4%, against a previous 3.75%. A BoE Inflation Report is also scheduled at 12:00 UTC.
For investors, the day brings a central bank decision and weekly US labor data, with the figures above as reference points.
What to watch next
At 09:00 UTC Italy publishes retail sales for September. The estimate is 1.1% year on year, against a previous 0.5%. On a monthly basis the estimate is 0.2%, against a previous 0.3%.
At 12:00 UTC the Bank of England announces its decision, and the BoE Inflation Report is scheduled for the same time.
At 13:30 UTC the US releases weekly labor data. Initial jobless claims for the week to October 31 have an estimate of 196 thousand, against a previous 194 thousand. The four-week average has an estimate of 196 thousand, against a previous 196.75 thousand. Continuing claims for the week to October 24 have an estimate of 1710 thousand, against a previous 1701 thousand.
Sources:UCapital Markets (ucapital.com)
UCapital24 S.p.A. or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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