2016–09–04 Market Watch: Switzerland Consumer Confidence, UK Interest Rate, Russia Inflation

5:45AM GMT: The State Secretariat for Economic Affair will report on Switzerland’s Consumer Confidence This figure is reported on a quarterly basis, and today’s data will be of Q3 2016. This statistic with an index which measures consumer’s evaluation of the economic situation. It is centered around zero, with a positive value indicating positive outlook. The market expects the index to fall to -16 from -15 last quarter. If the released figure exceeds expectation, CHF should appreciate.

11:00AM GMT: The Bank of England will meet to decide on monetary policy. The Bank of England’s MPC (Monetary Policy Committee) meets monthly, and last met on July 14th. Apart from deciding on the repo rate, the MPC will also set the amount of asset held under Quantitative Easing. The market expects the MPC to lower the repo rate to 0.25% from 0.5%, while keeping Quantitative Easing constant at 375 Billion GBP. If the MPC does not reduce rate today, the GBP should appreciate.

1:00PM GMT: Russia’s Federal State Statistics Service will report on Inflation Rate. This figure is reported on a monthly basis and today’s data will be of July 2016. This Inflation Rate is an index of consumer prices, and is measured year-on-year, meaning that today’s number will measure how much prices have increased since last July. The market expects an inflation rate of 7.4% down from 7.5% last month. If the released figure exceeds expectation, RUS should appreciate.

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