The U.S. Dollar index managed to post recovery as price action turned slightly bullish on Friday. However, the price was contained within Thursday’s range.
The German final inflation report showed an unchanged print as consumer prices rose 0.4% on the month. The Eurozone’s industrial production numbers rose 1.0%, beating estimates of a 0.4% increase.
Data on Friday showed a mixed picture for the U.S. Import prices in the United States jumped 0.5% in September. Export prices remained unchanged. On a year over year basis, both import and export prices remained broadly unchanged.
Consumer confidence fell slightly in October, data from the University of Michigan showed on Friday. The British pound gapped lower on Monday. The decline came amid news from EU’s chief Brexit negotiator Michel Barnier’s comments that despite negotiations, some key issues remained. The euro was also seen gapping lower at today’s open.
Economic data for the day ahead is expected to remain mostly quiet during the European trading session. The NY trading session will see the release of the retail sales report.
Headline retail sales are expected to rise 0.6% on the month, while core retail sales are forecast to increase by 0.4%. The Empire State Manufacturing Index data later follow this. Economists expect activity to rise to 20.4 on the index.
