Forex trading news and economic data headlines 31 October 2016
News:
- UK PM May says BOE governor Carney is best man for the job
- Latest Reuters poll sees Brent crude oil price averaging USD 44.78 per barrel in 2016
- Happy Diwali again to our Indian readers around the globe
- Euro unfazed after Eurozone CPI and GDP data
- SNB reports 9-month consolidated profit CHF 28.7bln
- Option expiries for the 10 am NY cut today 31 Oct
- Nikkei 225 closes down -0.12% at 17,425.02
Data:
- October 2016 Eurozone CPI 0.5% vs 0.5% exp y/y
- Eurozone Q3 GDP qq flash SA +0.3% vs +0.3% exp
- Italy CPI Oct flash mm 0.0% vs +0.2% exp
- September 2016 UK mortgage approvals 62,932 vs 61,500 exp
- Germany retail sales Sept mm -1.4% vs +0.2% exp
- Italian September PPI data stronger than previous
- Spain retail sales Sept yy NSA +3.6% vs +4.9% prev
- Japan housing starts Sept yy +10.0% vs 5.2% exp
Month-end it may be but we haven't seen any real fun and games as yet. Attention remains on the US Fed and NFPs this week, with the on-going Carney announcement to throw in the mix too.
GBPUSD had failed to get back above 1.2200 and remained mostly on the back foot with EURGBP stuck around 0.9000 for the most part. UK PM May has come out with her endorsement of Carney but we wait to see whether he'll stay or go in 2018.
EURUSD has been dribbling lower all session after failing to get back above 1.0980 and so far posted 1.0944 lows with euro sellers generally prevailing. USDJPY found support below 104.80 and eventually chewed back above 105.00 but without making much headway as yen demand prevailed.
USDCAD failed around 1.3420 as EU-Canada trade deal brought in some Asian CAD demand but fresh sellers have emerged as oil retreats and USDCAD has based below 1.3380.
AUD and NZD have done little of note.
Equities showing a softer start to the week.
Don't forget the UK and Europe pushed their clocks back by 1 hour over the week-end. UK now GMT.
