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The degree of tension in the market is growing again. China will set the tone for the week with its statistical data, but further options are possible.
China: asset risk
The China is preparing to publish a large amount of data, from its trade balance to GDP in Q3, the volume of investments in fixed assets and foreign investments. All this is very important: expectations regarding Chinese statistics are very cautious and frankly weak. If the numbers turn out to be lower than forecasts, risk assets will fall in price.
USD: forecasts on the side of the USD
The US this week will release stats on industrial production in September, as well as the real estate market performance report. Attention is focused on forecasts regarding the future peak of the interest rate. This plays in favour of the USD.
EUR: under pressure
The Eurozone will attract attention with the publication of consumer prices for September in the final calculation. Inflation rate was, according to the initial forecast, 10% YoY, which is the maximum. The approaching heating period keeps the EUR under pressure.
AUD: rising risks
Australia will also be active on the macroeconomic calendar. The country will present data on the labour market, where in September the number of jobs could grow less than in August. This is a risk for the AUD, apart from the Chinese reports.
GBP: focus on politics
More political unrest and problems are brewing in the UK, so this week’s statistics may fade into the background. For the GBP, any political imbalance is bad news, and downside risks remain. Among the statistics, it is worth paying attention to the data on retail sales in September, which could remain under pressure.
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Image and article originally from blog.roboforex.com. Read the original article here.