As tidbits of information regarding the potential resolution to the European financial crisis trickle in on the news ticker, currency traders will also be eyeing a handful of data releases in the session.

These reports could have compounded effects on the markets.  But, they won’t likely overshadow one of the region’s most pivotal decisions in years.

German preliminary readings on consumer price inflation are scheduled to start off the session.  Although a lot of emphasis won’t be placed on the monthly comparison, the figure is widely used in broader based models – anticipating final inflationary releases.  In October, consumer prices are anticipated to have risen by 0.1%, matching September’s monthly figure.  The print is expected drag the annualized measure lower to a 2.5% release – compared to an earlier 2.6% reading.

The preliminary inflation figures will be followed by a final reading on consumer confidence in the Eurozone.  These figures aren’t expected to change in the month of October – falling to a -19.9 .

But, across the region, UK realized sales will be released through the Confederation of British Industry.  The report is estimated to decline for the sixth time in seven months, showing a -16 reading.  This new low would not only beat September’s reading of -15, but it would be the lowest level the index has put forth since the summer of last year.  The dour report readings are expected to be a product of plunging UK consumer confidence and thinning retail sales figures earlier in the month.

Source:  www.forexmarketshot.com