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Around mid morning the EU inflation number gets reported. Analysts expect annualised growth of 2.5% which is a slight downtick from the 2.6% reported in June.
This will be a key number for today as the ECB has already made its first base rate cut whilst most other countries have held their rates.
The base rate is the main lever a central bank can pull or push to control inflation. The theory being that if it costs more to borrow (higher base rate), consumers will borrow less and therefore spend less, in turn dropping inflation.
The key is the balance. Some growth is healthy whereas hyper inflation on the upside and deflation on the downside are seen as unhealthy for the economy.
There's a press conference with 2 big hitters later yesterday being the Chair of the FED, Jerome Powell, and the President of the ECB, Christine Lagarde.
After that it's over to Australia for the a slew of information in the early hours, so traders will be relishing the prospect of movement in the Aussie Dollar.
Business news in the UK looks at shop prices and a slow down in increases reported last night. Cited were discounted televisions ahead of the Euros.
EUR: 10:00 Inflation Report
EUR: 14:30 ECBs Christine Lagarde Press Conference
US: 14:30 FEDs Jerome Powell Press Conference
AUS: Wednesday 00:00 AIG Manufacturing PMI
AUS: Wednesday 02:30 Retail Sales
As ever we look forward to keeping you in the loop and look out for our next update.
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