Industrial production in China decreased to 4.8% last month. The escalating trade war between the US and China, and the sluggish domestic demand will put industrial sector under pressure, as it was obvious from the indicator's last result that was shown weak grow after the strong decrease, and after three decreases in the previous four months. Despite of that, I still see some correction up maybe required in this month to value around 5.3%, after the recent strong decrease and after reaching the lowest level since February 2002.
The Empire State Manufacturing Index shows the manufacturing business conditions New York state.
The New York Empire State Manufacturing US increased in the last month to 4.8. I cann't neglect the sharp fall from positive to negative levels to the lowest value since May 2016, before it corrected two months later, so, in this month, I expect returning back to catch up the downtrend in this month to visit negative levels to record value about -1.
I expect bearish impact on USD/JPY.
In September meeting, The Reserve Bank of Australia left the interest rate unchanged at 1%. I think the move of AUD currecny will be bearish after this release due to the Inflation pressures that still remaining. In addition, policymakers is intending to keep the low rates for some period of time.
I expect bearish impact on AUD/USD.
The ZEW Economic Sentiment Index in Germany shows the optimism level of the expected economic developments over the next 6 months.
The ZEW index decreased sharply to -44.1 in the last month. The indicator showed pessimism state about the economic outlook in Germany, but I expect some correction up in this month to value around -37, after the recent sharp decrease, and after four consecutive decreases.
I expect bullish impact on EUR/USD.
Manufacturing Sales shows the total sales made at the manufacturing sector.
Manufacturing sales in Canada decreased strongly to -1.2% in the last month. The indicator showed weak sales in manufacturing level as the recent result decreased strongly from positive to negative levels, so, I expect the negativity will effect on the CAD move to be bearish. but the indicator will correct up in this month to back to normal levels around 0.8%, after reaching the lowest level since February 2019.
I expect bullish impact on USD/CAD.
Industrial Production shows the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
The industrial output in the US decreased to -0.2% in the last month. The indicator is performing positively as the results came in positive levels for two consecutive months before falling to negative recently. I expect returning back up to positive levels to record value around 0.2% in this month.
I expect bullish impact on USD/JPY.
The U.S. API Weekly Crude Oil Stock shows the petroleum demand level. It shows how much oil and product is available in storage.
The U.S. crude inventories decreased to -7.200 million barrels in the last week. I expect increase in this week to value around -3.000 million barrels due to oscillating up and down in the last three weeks respectively.
I expect bearish impact on USD/CAD.
The Trade Balance shows the total value between imported and exported goods and services.
The Japan's trade deficit widened to -249.6 billion JPY in the last month. It was normal decrease after hitting the highest since July 2018. I expect the trade deficit will be more widened in this month to value around -440 billion JPY as the recent result decreased from positive to negative levels.
I expect bullish impact on USD/JPY.