Bank of Japan protocols where published during the night. We can find in them the same information as in the previous ones – QQE works as it should and will be continued. Bank is focusing on CPI reading and moderate growth which stands behind the consumer price index. We could see barely any reaction on the Japanese yen when it comes to this publication.
Today’s focus is one again on the pound sterling. Data about trade balance and manufacturing production were published (without stronger market reaction) and evening will bring also BoE governor Carney speech. There is also Scottish referendum in the background and investors waiting for opportunity to sell next surveys giving a YES campaign boosters a minimum vantage.
In the afternoon, NIESR will publish data about UK GDP from last three months (3M). The last reading disappointed, showing 0.6% (the months ended in July) versus 0.8%-0.9% in last periods.
It is also worth to observe US JOLTS which is constantly increasing and was able to beat the pre-crisis levels. It is a really good forecast for labor market in USA.
