The last few days have been marked by a series of significant economic indicators primarily from the US. Key metrics however remain unreleased, such as the Producer Price Index and Retail Sales data. Notably, the NY Empire State Manufacturing Index has been a standout performer this week with a significant positive shift. Meanwhile, speeches from both the ECB and Fed could steer market sentiment further in the coming days.
| Event | Previous Value | Actual Value | Change | Interpretation | USD Impact |
|---|---|---|---|---|---|
| NY Empire State Manufacturing Index (Oct) | -8.7 | 10.7 | 19.4 | Significant rebound indicates improved manufacturing activity. | Potential positive impact on USD as industrial activity strengthens. |
| Event | Previous Value | Estimated Value | Interpretation | USD Impact |
|---|---|---|---|---|
| Retail Sales MoM (Sep) | 0.7% | 0.2% | Indicator of consumer spending deceleration. | Possible downward pressure on USD if consumer confidence weakens. |
| Jobless Claims 4-Week Average | 237.5K | 239K | Stability in employment slightly easing upward. | Neutral to minor negative impact on USD due to labor market stability. |
| Event | Previous Value | Actual Value | Change | Interpretation |
|---|---|---|---|---|
| ZEW Economic Sentiment Index (Oct) | 37.3 | 39.3 | +2 | Improved sentiment, signaling potential strength in the Eurozone economy. |
| German CPI (Sep) | 0.1% | 0.2% | +0.1% | Incremental rise in inflation, aligning with expectations. |
The release of some key economic figures indicates a mixed but cautiously optimistic narrative. Strong manufacturing data presents a supportive backdrop for USD; however, uncertainties in consumer spending metrics, compounded by unreleased inflation data, suggest a need for vigilance. Overall, recent indicators could be perceived as largely balanced. The USD could experience limited support from these metrics, hinging significantly on upcoming policy signals and pending data releases.