Yesterday's session was marked by ZEW Economic Sentiment figures. The ZEW Indicator of Economic Sentiment for Germany continued to improve in October 2017, however, not as strongly as in the previous month. The indicator currently stands at 17.6 points, which corresponds to an increase of 0.6 points compared with the September result. The indicator, however, still remains below the long-term average of 23.8 points. The financial market experts’ sentiment concerning the economic development of the Eurozone has considerably decreased. The corresponding indicator has fallen by 5.0 points, to a reading of 26.7 points. In contrast, the indicator for the current economic situation in the Eurozone has climbed by 1.0 point to a level of 36.5 points.
In the U.S. session Industrial Production data was published. U.S. industrial output rose in September as the effects of Hurricanes Harvey and Irma began to fade and construction and utilities production bounced back, the Federal Reserve said on Tuesday. Overall industrial production increased 0.3 percent in September after an upwardly revised 0.7 percent decline in August.
There will be no major data releases from Eurozone tomorrow. In the US session Building Permits and Housing Starts figures will be published. Analysts predict slight increase in building permits, while housing starts should remain unchanged.
Figures to watch:
Building Permits/Housing Starts (Wednesday 14:30)
