Reply To: Traders Market Weekly: Expect the Unexpected


FT reported that the Bank of England signaled willingness to extend its emergency bond buying scheme past Friday, but a follow-up report noted that the BoE reiterated its intention to end the program this week.
The 10-yr Gilt yield is up ten basis points at 4.54% while the pound is up nearly 1.0% against the dollar.
There is some speculation that British Prime Minister Truss will scrap some elements of her government’s budget.
Bank of France Governor Villeroy de Galhau said that recession fears should not derail the European Central Bank’s rate hike plans.
Eurozone’s August Industrial Production 1.5% m/m (expected 0.6%; last -2.3%); 2.5% yr/yr (expected 1.2%; last -2.5%)
U.K.’s August GDP -0.3% m/m (expected 0.0%; last 0.2%); 2.0% yr/yr (expected 2.4%; last 4.4%). August Construction Output 0.4% m/m (expected 0.5%; last 0.1%); 6.0% yr/yr (expected 5.6%; last 4.8%). August Industrial Production -1.8% m/m (expected -0.2%; last -1.1%); -5.2% yr/yr (expected 0.6%; last -3.2%). August Manufacturing Production -1.6% m/m (expected 0.2%; last -1.1%); -6.7% yr/yr (expected 0.8%; last -5.2%). August trade deficit GBP19.26 bln (expected deficit of GBP20.40 bln; last deficit of GBP17.59 bln)