- UK Q3 GDP +1.0% q/q, demonstrably stronger than Reuter’s median forecast of +0.6%
- BOJ considers 10t yen increase in asset-purchase program – Nikkei
- MPC’s Bean: UK economy is ‘past its worst’
- Dutch October business confidence -7.7, down from -6.7 in September
- BOE’s Fisher: UK economy has been flat, not in recession. Further cut to bank rate could hurt banking system, may not boost economy much
- Eurozone September M3 money supply annual growth +2.7%, weaker than median forecast of 3%
Good morning for sterling, which has seen across the board improvement. Cable is up at 1.6125 from early 1.6045 having been as high as 1.6144. EUR/GBP is down at .8060 from early .8092.
The pound was on the march early in anticipation of good Q3 GDP data and the sterling bulls weren’t disappointed when quarter on quarter growth rose a surprisingly robust +1.0%.
USD/JPY has managed to extend its’ recent rally, up at 80.12 from early 79.95 having been as high as 80.20 at one stage. Barrier option interest now noted at 80.25 and 80.50, defensive offers ahead of both.
EUR/USD firmer, up at 1.3005 from early 1.2980. That said we remain ostensibly rangebound with 1.2900-1.3100 looking like solid parameters. Outside that 1.2800-1.3200 looks rock solid. We can only hope something changes soon to break the logjam. Pleeeeeeeez……
