| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | Germany | CPI, m/m | September | 0% | 0% | 0% |
| 06:00 | Germany | CPI, y/y | September | 3.9% | 4.1% | 4.1% |
| 06:00 | United Kingdom | Manufacturing Production (YoY) | August | 6.1% | 4.1% | 4.1% |
| 06:00 | United Kingdom | Manufacturing Production (MoM) | August | -0.6% | 0% | 0.5% |
| 06:00 | United Kingdom | Industrial Production (YoY) | August | 4.4% | 3.1% | 3.7% |
| 06:00 | United Kingdom | Industrial Production (MoM) | August | 0.3% | 0.2% | 0.8% |
| 06:00 | United Kingdom | GDP m/m | August | -0.1% | 0.5% | 0.4% |
| 06:00 | United Kingdom | GDP, y/y | August | 8.8% | 6.7% | 6.9% |
| 06:00 | United Kingdom | Total Trade Balance | August | -2.9 | | -3.7 |
| 09:00 | Eurozone | Industrial Production (YoY) | August | 8.0% | 4.7% | 5.1% |
| 09:00 | Eurozone | Industrial production, (MoM) | August | 1.4% | -1.6% | -1.6% |
USD fell against its major rivals in the European session on Wednesday, as investors awaited the releases of the key U.S. inflation data for September and the minutes from the last meeting of the Federal Open Market Committee (FOMC) later today. Markets hope these events can provide clues on whether the Fed officials will announce a tapering of bond purchases at the FOMC November meeting despite soft U.S. payrolls figures for September.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, decreased 0.22% to 94.31 but kept close to its one-year high.
Worries about inflationary pressures remain the major thing that has continued to annoy markets recently. The Fed’s vice chair Richard Clarida and Atlanta Fed president Raphael Bostic both acknowledged yesterday the elevated inflation pressures in the economy. At the same time, they expressed views that the U.S. economy had recovered enough for the Fed to begin to withdraw its crisis-era stimulus.
Economists expect to see a rise of 0.3% m/m and 5.3% y/y, when the inflation report is released at 12:30 GMT. Hotter-than-expected inflation will support the case for sooner rather than later Fed tightening.