Tuesday we might call the day of British Pound and the US Dollar and all this thanks to the vast majority of emerging today publications from these countries. But we cannot forget what has happened late last night and tonigh – reading on inflation in New Zealand and the minutes of the RBA, but first…
Inflation in the third quarter. Higher than expectations
Yesterday we met reading of consumer inflation in third quarter published by Statistics New Zealand (Statistical Office of New Zealand). It turned out to be better than expected and was subsequently 0.2% YoY (forecast 0 1%, 0.4% previously) and 0.2% QoQ (0.0% previously, forecast 0.4%). As a result of a positive data, NZDUSD recorded a strong gain and the appreciation of the New Zealand Dollar.
Also important was the minutes of the RBA meeting on monetary policy in Australia, where we learned that:
- RBA decided to wait for the November meeting with a serious review of the situation, because It didn’t know yet the inflation for the third quarter (data next week).
- Economic prospects remain good, obviously keeps pace allowing to increase employment
- Positively rated stabilization of export prices to import after lasting for a long time drops that hit the earnings of companies.
With such positive signals AUDUSD also definitely strengthened as a result of which increases during the night reached 0.63%.
What are we waiting for?
- 10:30 – A series of UK data including the rate of inflation of consumer and producer for September.
- 14:30 – A series of data from the United States with the CPI inflation for September
- 14:30 – Industrial Sales from Canada
