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Daily Forex Market Preview, 17/10/2018
China’s headline inflation rose 2.5% on the year ending September. This was a modest increase from August inflation rate which touched 2.3%. However, producer prices index data rose at a slower pace for the third consecutive week. PPI was seen rising just 3.6% on the year missing estimates of a 3.7% increase. In August, China’s PPI was at 4.1%.
Data from the UK showed that wage growth picked up sharply. Excluding bonuses, wages in the UK advanced 2.7% in the three months ending August. This was higher than the median estimates of 2.6%. The UK’s unemployment rate held steady at 4.0% for the third consecutive month.
Data from the Eurozone showed that the German economic sentiment index weakened to -24.7 unexpectedly. The decline was seen coming due to the uncertainty on global trade policies.
The UK’s Office for National Statistics will be releasing the inflation report today. Consumer prices in the UK are forecast to rise 2...
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