Today sees a host of economic releases and speeches by prominent figures throughout the day.

From the UK we look out for the Net Lending to Individuals figure, expected at 4B, and talks from MPC Member Forbes. Better than expected data or a hawkish speech will see he GBP continue its recent comeback and vice versa for a worse than expected release or dovish speech.

From the US we have the Final GDP q/q, Pending Home Sales and Unemployment Claims expected at 1.3%, -0.1% and 260k respectively. Better than expected data usually results in an appreciation of the respective currency while worse than expected data will see the USD depreciate. Fed Yellen`s Speech will also be scrutinised as markets look to her for clues to the any future monetary policy changes.

Japan sees Gov Kuroda take the stand, which markets will be tuned in to see if he hints at any further monetary easing as the BOJ struggles to reach its objectives, should he imply more stimulus, we would see the JPY weaken across the board while a more hawkish tone will see the JPY firm up. Also on our watch list is the Household Spending y/y/ and Tokyo Core CPI y/y figures expected at -2.1% and -0.4% respectively.

To top it all off, we have the Caixin Manufacturing PMI out of China, expected at 50.1, which will be watched by all markets especially the eastern as we look to see how China is performing with dwindling global demand.

Today’s key economic data is as follows:

EUR

  • Spanish Flash CPI y/y expected at 0.1%
  • German Unemployment Change expected at -5k

GBP

  • Net Lending To individuals m/m expected at 4B
  • MPC Member Forbes Speaks

USD

  • Final GDP q/q expected at 1.3%
  • Unemployment Claims expected at 260k
  • FOMC Member Powel Speaks
  • Pending Home Sales m/m expected at -0.1%
  • Fed Chair Yellen Speaks

JPY

  • Household Spending y/y expected at -2.1%
  • Tokyo Core CPi y/y expected at -0.4%
  • BOJ Gov Kuroda Speaks

CNY

  • Caixin Manufacturing PMI expected at 50.1