We are awaiting quite a few reports from the United States today.
There are a number of events and reports expected today, which would likely have an impact on the financial markets.
First of all, we are set to receive the latest data on inflation in the United States. This is the most important factor for determining when the next rate increase by the Federal Reserve will take place. The data is expected at 12:30 GMT. Analysts’ forecast is that the PPI grew by 0.2% in August and 3.2% YoY, with a 2.7% YoY for the CPI. If the numbers turn out higher than the forecasts, an interest rate increase may happen sooner than expected.
At 18:00 GMT we expect the Federal Reserve’s Beige Book - a report that contains a detailed assessment of the economic situation from all branches of the Fed. There will also be speeches by two different leading members of the Federal Reserve. Overall, today we are set to learn quite a lot about the US economy and where things are headed for the American dollar.