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technical analysis

Daily Forex Market Preview, 16/10/2018

Data from the Eurozone was quiet during the day. The NY session saw the release of the retail sales report. Headline retail sales rose just 0.1% on the month. This was below the estimates of 0.7% and marked the same pace of increase in August.

Core retail sales, on the other hand, fell 0.1% and missed estimates of 0.4%. Core retail sales for August was also revised lower to 0.2%. The NY Fed’s Empire State manufacturing index increased to 21.1 and was higher than the estimates of 20.4.

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In the overnight trading session, New Zealand’s third-quarter inflation showed a 0.9% increase. This beat expectations of a 0.7% increase and consumer prices advanced from 0.4% in the second quarter. On a year over year basis, New Zealand’s inflation rate stands at 1.9%.

The day ahead will see China’s inflation figures will kick off the economic calendar today. Headline inflation is forecast to rise 2.5%, gaining momentum from the 2.3% regist...


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