During the Asian session, the key highlight will be the release of Chinese economic data, including GDP figures. Additionally, RBA Bullock is schedule
d to participate in a panel discussion. During European trading hours, the focus will shift to the release of UK inflation data. Here is what you need to know on Wednesday, October 18: Another round of upbeat US economic data was released. Retail sales in September rose 0.7%, surpassing the market consensus of 0.3%. August numbers were revised higher. Industrial Production in September increased by 0.3%, exceeding expectations of a flat reading.
The Euro strengthened against the Swiss Franc and the Pound , supported by higher Eurozone bond yields. The EUR/USD pair briefly peaked near 1.0600 before pulling back, but it held above the 1.0560 level. Eurozone will release the final readings of September's Consumer Price Index and Construction Output for August. GBP/USD pair continues to trade within a range of 1.2130 and 1.2225 without a clear direction. Market focus now turns to the UK inflation data scheduled for release on Wednesday.
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