All eyes and ears are probably gonna be on Brexit in the days ahead, but there are still some U.K. top-tier reports worth watching. Take a look!
BOE Governor Carney’s speeches (starting Oct. 15, 8:30 am GMT)
We’ll be hearing from the main man himself, BOE Guv’nah Carney, on a number of occasions this week. First up, he’s due to testify on the Financial Stability Report before the Treasury Select Committee on Tuesday’s London session, and he’s likely to be quizzed on the central bank’s fiscal plans for Brexit.
Next, he’s got a couple of testimonies lined up on Wednesday, one in a panel discussion at the International Monetary Fund event and another in Harvard University. Audience questions are expected in both instances, so his responses might spur some volatility for pound pairs.
U.K. jobs data (Oct. 15, 8:30 am GMT)
Tuesday’s London session has the employment figures lined up, including the claimant count change, jobless rate and average earnings index.
The claimant count for the month of September is projected to have increased by 21.3K, a slower gain in joblessness compared to the earlier 28.2K rise. Meanwhile, the unemployment rate likely held steady at 3.8%.
The average earnings index, which is the three-month rolling average of wage changes, might draw more market attention. After all, this could set the tone for consumer spending and inflationary pressures down the line. For the period ending in August, the figure is slated to have stayed at 4.0%.
U.K. inflation reports (Oct. 16, 8:30 am GMT)
Market watchers are expecting a pickup in price levels for September, at least based on the consensus figures for the upcoming set of U.K. inflation reports.
The headline CPI is projected to have ticked higher from 1.7% to 1.8% while the core reading likely climbed a couple of notches from 1.5% to 1.7%. Underlying inflation data probably improved also, with producer input prices expected to have rebounded by 0.2% after the earlier 0.1% dip and output prices likely to have stayed flat after the previous 0.1% decline.
Just roughly a couple of weeks left until the Brexit deadline by the end of this month! So far, the EU has rejected the latest version of the transition deal and lawmakers are drafting legal measures to prevent a “no deal” situation by October 31.
Many are hoping that a deal could be inked before the EU Summit on October 17-18, and there is some talk that a form of free-trade agreement could be hammered out. One option is to have customs checks done in the Irish Sea as a workaround to the backstop idea.
Even so, No. 10 remains under pressure to seek an extension from EU leaders if the U.K. government does need more time to make concessions. Then there’s the possibility of a general election to contend with, possibly plunging the U.K. deeper into political uncertainty.
Missed last week’s price action? Read the GBP price recap for October 7 – 11!