EUR
German factory gate prices contracted for a 26th consecutive month in September
 emphasizing the fragility of economic recovery in the
Eurozone. Year-on-year producer prices fell 2.1 per cent, versus
expectations of a 1.8 per cent dip. They had slipped 1.7 per cent in
August. Germany is Europe’s biggest economy, and one often assumed to be
in relatively better shape than its neighboring countries. However signs
of strain are emerging, with factory orders and exports falling. The German

EUR
German factory gate prices contracted for a 26th consecutive month in September
 emphasizing the fragility of economic recovery in the
Eurozone. Year-on-year producer prices fell 2.1 per cent, versus
expectations of a 1.8 per cent dip. They had slipped 1.7 per cent in
August. Germany is Europe’s biggest economy, and one often assumed to be
in relatively better shape than its neighboring countries. However signs
of strain are emerging, with factory orders and exports falling. The German
economy grew just 0.4 per cent in the three months to June, missing
expectations of 0.5 per cent growth.

GBP

Mark Carney gave a speech yesterday and told the Treasury Select Committee that
‘the analysis is on the impact of EU membership on the ability of the bank of
England to discharge its statutory responsibilities. The Bank of England is due
to publish its findings today after investigating the potential impact a UK
exit from the EU would have on the ability to steer the market. Carney will be
giving a speech this evening at University of Oxford.

USD
The number of housing starts issued in the U.S. rose more than expected in
September, while building permits fell more than forecast. In a report,
the U.S. Commerce Department said that housing starts rose 6.5% compared to
last month’s previous figure.The report also showed that the number of building
permits issued dropped by 5.0% to a seasonally adjusted 1.103 million units
from August’s total of 1.170 million

American consumers, powered by an improving job market, are keeping the U.S.
afloat as they continue to spend on big-ticket items such as homes and cars. A
pickup in wage gains would give even more households the ability to save for a
down payment, helping to sustain momentum in the housing industry.

Key Announcements
18:00 – GBP : BoE’s Governor Carney speech