Today is expected to be a day with average volatility. Volatility will remain high only in the first half of the day because we do not expect any macroeconomic reports from the US and Canada. In the US, investors today expect Donald Trump's speech at the Economic Club of New York, where we may receive updated information about the deal with China and its possible date.
The day began with the publication of inflation expectations in New Zealand, which decreased to 1.8%. The NZD and the AUD are under pressure today, influenced by the recently published reports and the growing likelihood of a rate cut in New Zealand tomorrow.
The main array of macroeconomic reports is expected from the EU today. The pound has continued strengthening this week, thanks to the reduction of fears about the outcome of the elections in December. The conservatives received support from the Brexit party, which refused to compete with them in this election for the sake of implementing Brexit. And just now, after the publication of data on the employment market, the GBP is growing again because, according to the report, the unemployment rate fell to 3.8%, exceeding the expectations of investors. The result is impressive, given that Britain's economy is under pressure due to Brexit as well as the economic downturn in the EU.
The EUR today is also in the green due to the published index of economic sentiment in Germany, which amounted to -2.1 points in November, very close to entering the positive zone. In the EU as a whole, the index is even better - minus 1 point, while, according to the forecasts, the index should have been much lower: -13.2 points in Germany, and -11.5 - in the EU.
