1Finance

EUR/USD tumbled down, mostly on the German elections. Has the pair changed its course or is it only a correction? The first week of Q4 features the ECB meeting minutes and PMIs among other events. Here is an outlook for the highlights of this week.

1. Manufacturing PMIs: Monday morning: 7:15 for Spain, 7:45 for Italy, final French figure at 7:50, final German number at 7:55 and the final all-European number at 8:00.
2. Unemployment Rate: Monday, 9:00. The unemployment rate in the euro-zone is falling and this is encouraging. The rate stood at 9.1% in July.
3. Spanish Unemployment Change: Tuesday, 7:00. The fourth-largest economy still suffers from high unemployment and the improvement is closely watched. In addition, Spain releases its data quite early, just after the month ends. In August, the number of the unemployed rose by 46.4K, falling short of expectations.
4. PPI: Tuesday, 9:00. Prices remained flat in July. We now get the figure for August.
5. Services PMIs: Wednesday morning: 7:15 for Spain, 7:45 for Italy, final French figure at 7:50, final German number at 7:55 and the final all-European number at 8:00.
6. Retail Sales: Wednesday, 9:00. A drop of 0.3% was seen in July.
7. Retail PMI: Thursday, 8:10.
8. ECB Meeting minutes: Thursday, 11:30. In its recent decision, the European Central Bank told us that it will probably make a decision in October. The minutes from that September meeting are released now, as we near the October meeting. Any details about the anticipated decision about QE tapering will move markets. A slower tapering will hurt the euro while a quicker end will boost it.
9. German Factory Orders: Friday, 6:00.
10. French Trade Balance: Friday, 6:45. Another deficit is on the cards now.

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