Data released:
00:30 GMT Australia Trade Balance (Sep) -284M -450M -693M -815M
08:00 GMT UK Halifax House Prices (3m/YoY) (Oct) 6.9% 7.0% 6.2%
08:00 GMT UK Halifax House Prices (MoM) (Oct) 0.7% 0.9% 0.4%
08:48 GMT France Markit Services PMI (Oct) 50.9 50.2 51.0
08:53 GMT Germany Markit Services PMI (Oct) 52.9 52.3 53.7
08:58 GMT EMU Markit Services PMI (Oct) 51.6 50.9 52.2
08:58 GMT EMU Markit PMI Composite (Oct) 51.9 51.5 52.2
09:30 GMT UK Industrial Production (YoY) (Sep) 2.2% 1.8% -1.5%
09:30 GMT UK Industrial Production (MoM) (Sep) 0.9% 0.5% -1.1%
09:30 GMT UK Manufacturing Production (MoM) (Sep) 1.2% 1.1% -1.2%
09:30 GMT UK Manufacturing Production (YoY) (Sep) 0.8% 0.7% -0.2%
The euro strengthened against the dollar and the yen as most economists predicted the European Central Bank will refrain from cutting interest rates at a policy meeting tomorrow to await further economic data.
The ECB will leave its main refinancing rate at 0.5% tomorrow, according to economists. Bank of America Corp., Royal Bank of Scotland Group Plc and UBS AG all predict the ECB will reduce borrowing costs.
EURO
The euro sets stable after EU Services PMI prints came in above expectations overall. Rate currently holds at $1.3503. Services PMI prints during October surprised investors, surpassing previous estimates although coming in lower than September’s readings.
Next on tap in the euro bloc will be EMU’s retail sales, expected to contract 0.4% inter-month ahead of German Factory Orders. But in general the main focus is on the ECB meeting tomorrow.
EUR/USD currently holds at $1.3503, below Asia highs on $1.3520 (initial resistance) with initial support remains at recent lows on $1.3440. Above $1.3520 resistance is near Friday’s highs at $1.3565, above - near earlier broken support line at $1.3640 and above - at $1.3700 (Oct 18 highs). Below $1.3440 support placed at $1.3380 (61.8% Fibo of the $1.3100 - $1.3830 rally).
POUND
The pound rallied after a stronger-then-expected UK data, tha showed year-over-year UK Industrial Production rose by 2.2% in September, following a 1.5% drop in August. This is a more positive result that the forecasted 1.8% increase. UK Industrial Production grew by 0.9% between August and September, in comparison with the 1.1% decline registered between July and August and above expectations of a 0.5% rise.
On an annual basis UK Manufacturing Production grew by 0.8% in September, after decreasing 0.2% in August and slightly above expectations of a 0.7% rise. Between August and September UK Manufacturing Production rose 1.2%, following a 1.2% drop between July and August and exceeding market consensus of 1.1% growth.
GBP/USD breaks above $1.6100 after the UK data. Initial resistance comes at $1.6200 (phycological level). Minor support is around $1.6040, below - at $1.5980 (Oct 4 highs) and $1.5900.
YEN
The dollar moved sharply higher versus the yen mainly due to the Nikkei uprise, as well as by the EUR/JPY rally.
Japan’s Nikkei rallied after NHK said the Toyota would raise its operating profit forecast to 2.2 trillion yen ($22.3 billion) from its previous estimate of 1.94 trillion yen. The automaker confirmed the revised forecast after the market close.
USD/JPY retreats after it tested Y98.75 earlier. Support is around Y97.80 with a stronger one - on the lower bound of the triangle at Y97.30. Break under widens losses to Y96.55 (Oct 7 lows) and Y95.80 (Aug 8 lows). Strong resistance comes at the upper bound of the daily charts triangle from May 22 at Y98.85. Above resistance is around Y99.60 (Sep 20 higihs) and Y100.60 (Sep 11 highs).
DATA AHEAD
Комментариев нет:
Отправить комментарий