US Retail Sales And China GDP Data In The Spotlight

<p><a href="https://admiralmarkets.com/analytics/traders-blog/us-retail-sales-and-china-gdp-data-in-the-spotlight"><picture class="lozad" data-iesrc="https://fxmedia.s3.amazonaws.com/articles/US_Retail_Sales_and_China_GDP_data_in_the_spotlight.jpg" data- data- data-alt="eur usd chart on MT5 platform with the title of the blog written on it" data-height="376" data-width="800"><source type="image/webp" media="(min-width: 640px)" srcset="https://dynamic-images.admiralmarkets.com/720x,webp/fxmedia.s3.amazonaws.com/articles/US_Retail_Sales_and_China_GDP_data_in_the_spotlight.jpg"></source><source type="image/webp" media="(max-width: 639px)" srcset="https://dynamic-images.admiralmarkets.com/375x,webp/fxmedia.s3.amazonaws.com/articles/US_Retail_Sales_and_China_GDP_data_in_the_spotlight.jpg"></source></picture></a></p><p>While market analysts are focused on the geopolitical developments in the Middle East, the US retail sales report and inflation data coming from the UK and Canada are expected to provide clues regarding the impact of strict monetary policies on these economies.</p><p>Asian stock markets rose on Tuesday morning while investors expect the Chinese GDP growth report for the third quarter of the year due to be released tomorrow.</p><p>New Zealand’s CPI inflation hit a two-year low in the third quarter of the year, coming in at 5.6% on a year-to-year basis. As a result, the New Zealand dollar weakened by 0.44% with traders thinking that the Reserve Bank of New Zealand (<a rel="nofollow noopener" href="https://www.rbnz.govt.nz/" target="_blank">RBNZ</a>) may not raise borrowing costs in November.</p><div>
<h2>Table of Contents</h2>
<ul>
<li><a href="https://admiralmarkets.com/analytics/traders-blog#mcetoc_1hcucimcb5s">US Retail Sales In September</a></li>
<li><a href="https://admiralmarkets.com/analytics/traders-blog#mcetoc_1hcucimcb5t">Canada CPI Inflation Report</a></li>
<li><a href="https://admiralmarkets.com/analytics/traders-blog#mcetoc_1hcucimcb5u">China GDP Growth In Q3 2023</a></li>
<li><a href="https://admiralmarkets.com/analytics/traders-blog#mcetoc_1hcucimcb5v">UK CPI Inflation Report </a></li>
</ul>
</div><h2>US Retail Sales In September</h2><p>US Retail Sales data will be published by the US Census Bureau later today. Economists expect the report to show a 0.2% rise, on a monthly basis, in September with the anticipated figure being lower than August’s. Market analysts suggest that consumer spending has dropped considerably in the last few months as high borrowing costs and increased prices seem to put a strain on consumers' budgets.</p><p>Earlier in the month, <a rel="nofollow noopener" href="https://www.reuters.com/business/retail-consumer/us-online-sales-grow-48-crucial-holiday-season-report-2023-10-05/" target="_blank">Adobe Analytics suggested that online sales during the holiday season are expected to rise 4.8%</a> on an annualised basis, as retailers try to lure consumers into spending by offering large discounts on many products.</p><h2>Canada CPI Inflation Report</h2><p>On Wednesday, the Bank of Canada (BoC) and Statistics Canada will release their September inflation figures. Economists estimate that headline inflation remained flat in September, expecting it to come in at 4% on a year-to-year basis.  </p><p>Bank of Canada Governor Tiff Macklem told reporters attending the recent International Monetary Fund (IMF) that <a rel="nofollow noopener" href="https://www.reuters.com/markets/bank-canada-says-economy-not-heading-serious-recession-2023-10-13/" target="_blank">the bank would "take into account" the tighter financial conditions</a> due to higher long-term bond yields before its upcoming monetary policy announcement scheduled for October 25th. The BoC’s head reiterated that the Canadian economy isn’t heading towards a recession.</p><h2>China GDP Growth In Q3 2023</h2><p>Earlier on Wednesday, the National Bureau of Statistics will publish its Q3 GDP report. Some economists suggest that the Chinese economy grew by 4.4% on a yearly basis, dropping from the 6.3% recorded in the second quarter, but expanded by 1.0% on a quarterly basis, slightly higher than the previous quarter.</p><p>Exports and imports have continued their declining trajectory while, despite increased bank lending, analysts have observed deflationary pressures. A <a rel="nofollow noopener" href="https://www.reuters.com/article/china-economy-poll-idUSKBN31G0EF" target="_blank">Reuters report</a> noted that “the economy would grow 5.0% this year, in line with a September survey and Beijing’s own target but lower than 5.5% forecast in a July poll. Growth was forecast to slow to 4.5% in 2024.”</p><h2>UK CPI Inflation Report </h2><p>Economists in the UK will be expecting the country’s inflation data to be released on Wednesday morning. Market analysts predict headline inflation to come in at 6.5% on a yearly basis in September.</p><p>The Bank of England’s chief economist, Huw Pill, said that the Monetary Policy Committee (MPC) might have to move forward with more monetary policy tightening to achieve the 2% inflation target.</p><p>“We still have some work to do, in order to get back to 2%. And we probably have some work to do, to ensure that when we get back to 2% we do so in a way that is sustainable through time,” he said adding that falling headline inflation wouldn’t be sufficient for the BoE to say that the job is done.</p><p><em>Does trading on macroeconomic news interest you? Learn how this approach works with our free webinars. Meet and interact with experienced traders. Watch and learn from live trading sessions.</em></p><p></p><div><div><span>Free trading webinars</span><p>Tune into live webinars hosted by our trading experts</p><a target="_blank" href="https://admiralmarkets.com/education/webinars">REGISTER FOR FREE</a></div><div><a target="_blank" href="https://admiralmarkets.com/education/webinars"><a href="https://admiralmarkets.com/analytics/traders-blog/us-retail-sales-and-china-gdp-data-in-the-spotlight"><picture class="lozad" data-iesrc="https://fxmedia.s3.amazonaws.com/img/uploads/6451109f81eed1683034271.png" data- data- data-alt="Free trading webinars" data-height="" data-width=""><source type="image/webp" media="(min-width: 640px)" srcset="https://dynamic-images.admiralmarkets.com/720x,webp/fxmedia.s3.amazonaws.com/img/uploads/6451109f81eed1683034271.png"></source><source type="image/webp" media="(max-width: 639px)" srcset="https://dynamic-images.admiralmarkets.com/375x,webp/fxmedia.s3.amazonaws.com/img/uploads/6451109f81eed1683034271.png"></source></picture></a></a></div></div><p><b>This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the <a href="https://admiralmarkets.com/risk-disclosure" target="_blank" rel="noopener">risks</a>.</b></p>