The most important data to be released today are the German inflation readings, the UK Budget announcement, then the US ADP report and the third quarter GDP report for the eurozone and the United States.
Also, important data was released from Australia at dawn today, represented by inflation data, which came on declines more than expected, which led to the decline of the Australian dollar against most currencies.
But in general, the focus remains on the US elections that will be next week, especially considering the negative distortions expected to make the US NFP report on Friday more difficult to interpret.
The US ADP report is expected to show the addition of 115 thousand jobs in October against 143 thousand jobs in September, as the last report was somewhat surprising resulting in a tight re-pricing of interest rate forecasts, and although ADP has a poor track record in forecasting NFP data, the recent market sensitivity to labor market data makes it a bit more important.
