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ECB: President Draghi’s speech eyed – Rabobank

FXStreet (Delhi) – Research team at Rabobank, suggest that the markets will be looking closely for any clues in the Draghi’s speech that the central bank may increase its asset purchasing programme in the coming months to reduce the risk of prolonged disinflation with the headline inflation reported at just 0.1% YoY in August.

Key Quotes

“ECB President Draghi will speak at a quarterly hearing before the Committee on Economic and Monetary Affairs of the European Parliament.”

“Before Draghi delivers his speech at 15:00cet, preliminary Eurozone PMIs for September will be published at 10:00cet. Following the rise to the highest level so far this year of 54.3 in August, the market expects the composite index to edge marginally lower to 54.0 in September (the most likely explanation for such expectations would be growing concerns about the slowdown in emerging economies). The pace of expansion in manufacturing and services is seen slowing down modestly to 52.0 from 52.3 and to 54.2 from 54.4 respectively.”

German private sector activity slows down in September

The preliminary data released by Markit today showed the German private sector activity in September cooled down to two-month low of 54.3 from 55.0 in August.
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USDCAD: Healthy retail sales data expected – TDS

Prashant Newnaha, Rates Strategist at TD Securities, suggests that we are broadly in line with the market in looking for a healthy 0.9% m/m gain in July retail sales (market: +0.7%) with the ex-autos measure forecast to increase by 0.3% (market: 0.5%).
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