Markets Week Ahead: Dow Jones, US Dollar, Gold, British Pound, Fed Taper, NFPs, BoE Hike?

The Dow Jones, S&P 500 and Nasdaq 100 hit records highs despite Fed QE tapering being just around the corner. Is volatility about to rise? The British Pound is eyeing the BoE, where the central ban...

Markets Week Ahead: Dow Jones, US Dollar, Gold, British Pound, Fed Taper, NFPs, BoE Hike?

The Dow Jones, S&P 500 and Nasdaq 100 hit records highs despite Fed QE tapering being just around the corner. Is volatility about to rise? The British Pound is eyeing the BoE, where the central ban... Via DailyFX - Market News https://ift.tt/32vveVH

Weekly Fundamental Gold Price Forecast: Hawkish Central Banks a Hurdle

Gold prices are facing difficulties in the coming days as more and more central banks take a hawkish turn.

Weekly Fundamental Gold Price Forecast: Hawkish Central Banks a Hurdle

Gold prices are facing difficulties in the coming days as more and more central banks take a hawkish turn. Via DailyFX - Market News https://ift.tt/32vveVH

US Stock Rally Braces for Fed to Gradually Taper QE Program

The Federal Reserve interest rate decision may influence the US stock market as the central bank prepares to scale back monetary support.

US Stock Rally Braces for Fed to Gradually Taper QE Program

The Federal Reserve interest rate decision may influence the US stock market as the central bank prepares to scale back monetary support. Via DailyFX - Market News https://ift.tt/32vveVH

Euro Forecast: EUR/USD Rally More Likely After Traders Ignore Dovish Lagarde

The reaction in the FX markets to last Thursday’s comments by the ECB President was odd: she was dovish, yet the Euro climbed. That suggests more near-term upside for the currency.

Euro Forecast: EUR/USD Rally More Likely After Traders Ignore Dovish Lagarde

The reaction in the FX markets to last Thursday’s comments by the ECB President was odd: she was dovish, yet the Euro climbed. That suggests more near-term upside for the currency. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Outlook: Oil Prices Remain Supported Ahead of OPEC+

Oil prices continue to rise as fundamental factors weigh on supply. Rising channel continues to hold bulls at bay

Crude Oil Outlook: Oil Prices Remain Supported Ahead of OPEC+

Oil prices continue to rise as fundamental factors weigh on supply. Rising channel continues to hold bulls at bay Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar Forecast: Fed QE Taper, Non-Farm Payrolls, Wall Street Volatility Risk

The US Dollar rose as markets await the Fed, the start of QE tapering and NFPs. Still, USD has broadly underperformed in October, it might have its chance to shine next.

US Dollar Forecast: Fed QE Taper, Non-Farm Payrolls, Wall Street Volatility Risk

The US Dollar rose as markets await the Fed, the start of QE tapering and NFPs. Still, USD has broadly underperformed in October, it might have its chance to shine next. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Rebounds, Records Solid Gains Against Major Rivals

The U.S. dollar firmed against major rivals on Friday, rebounding from recent losses, after a report showed that inflation as measured by the Fed's preferred gauge surged in September, supporting expectations for a tapering announcement as soon as next week.

The Federal Reserve, which is set to meet next week, is widely expected to announce plans to begin scaling back its asset purchase program.

Data from the Commerce Department showed that the U.S. personal consumption expenditures index grew 4.4% on year, from 4.2% in August. On an annual basis, the core personal consumption expenditures index remained at 3.6% for the fourth straight month.

The data showed personal spending climbed by 0.6% in September after jumping by an upwardly revised 1% in August, while personal income decreased by 1% in September, after inching up by 0.2% a month earlier.

A separate report from the University of Michigan showed the consumer sentiment index for October was upwardly revised to 71.7 from the preliminary reading of 71.4.

The dollar index, which climbed to 94.30, has come off that high and is hovering around 94.15. The index had settled at 93.35 on Thursday.

Against the Euro, the dollar strengthened to 1.1563, gaining more than 1%. Flash data from Eurostat showed that Eurozone inflation accelerated sharply to the highest since 2008 on higher energy prices. The data said inflation rose to 4.1% in October from 3.4% in September.

The Pound Sterling slid against the dollar and is fetching $1.3691 a unit, about 0.75% less than Thursday's close of $1.3793.

The dollar is trading at 113.96 yen, gaining from 113.58.

Against the Aussie, the dollar is at 0.7522, gaining about 0.3% from 0.7545.

The Swiss franc is down against the dollar at 0.9154.

The dollar is stronger against the Loonie, fetching C$1.2386 a unit. Data released by Statistics Canada showed the Canadian economy expanded 0.4% month-over-month in August, following a contraction of 0.1% in the previous period, thanks to continued easing of public health restrictions and further reopening across the country.

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source http://www.mt5.com/forex_news/quickview/2184909/

Bitcoin (BTC) Steadies Around $61k, Ethereum (ETH) Posts a New All-Time High

The cryptocurrency market is back on the front foot and pushing higher after a mid-week clear out and both Ethereum and Bitcoin look good to move even higher.

Bitcoin (BTC) Steadies Around $61k, Ethereum (ETH) Posts a New All-Time High

The cryptocurrency market is back on the front foot and pushing higher after a mid-week clear out and both Ethereum and Bitcoin look good to move even higher. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Futures Settle Higher

Crude oil futures settled higher on Friday as hopes that OPEC and allies will decide to keep supply levels tight outweighed recent data showing a surge in U.S. crude inventories and likelihood of Iranian oil entering the market.

West Texas International Crude oil futures for December ended up by $0.76 or about 0.9% at $83.57 a barrel, recovering strongly after hitting a low of $81.41.

WTI Crude futures gained more than 11% in October.

The Organization of the Petroleum Exporting Countries and its allies including Russia, a group called OPEC+, will meet on November 4 to decide on crude output.

The group is widely expected to stick to its plan to add 400,000 barrels per day of supply each month until April 2022.

A report from Baker Hughes said the number of rigs drilling for oil in the U.S. rose by one in the latest week to 444. The oil-rig count is up by 221 from a year earlier.

Gas rig count increased by one to 100 this week, and compared to the count in the same week last year, it is up by 29.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184907/

Treasuries Close Modestly Higher After Seeing Early Weakness

After an early move to the downside, treasuries regained ground over the course of the trading day on Friday before closing modestly higher.

Bond prices climbed well off their early lows. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1.1 basis points to 1.557 percent after reaching a high of 1.619 percent.

The slightly higher close by treasuries came as traders looked ahead to the Federal Reserve's monetary policy meeting next week.

The Fed is likely to leave interest rates unchanged but could announce plans to begin scaling back its asset purchase program.

On the U.S. economic front, a report released by the Commerce Department showed personal income decreased by much more than expected in the month of September.

The Commerce Department said personal income slumped by 1.0 percent in September after inching up by 0.2 percent in August. Economists had expected personal income to edge down by 0.2 percent.

The bigger than expected drop in personal income primarily reflected a decrease in government social benefits, both in unemployment benefits and "other" benefits.

Meanwhile, the report showed personal spending climbed by 0.6 percent in September after jumping by an upwardly revised 1.0 percent in August.

Economists had expected personal spending to rise by 0.5 percent compared to the 0.8 percent increase originally reported for the previous month.

A reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth in September remained at 3.6 percent for the fourth straight month.

"We expect core PCE inflation will peak above 4% in November and only fall below 3.5% by April 2022, thereby testing the Fed's patience," said Lydia Boussour, Lead U.S. Economist at Oxford Economics.

"We continue to believe the Fed will avoid the policy error of tightening policy too early in the face of supply-driven inflation, but its outcome-based FAIT framework will come under increasing stress in Q1 2022," she added. "As such, the Fed could be pressured by markets to raise rates earlier than our current forecast of December 2022."

A separate report from the University of Michigan showed consumer sentiment in the U.S. deteriorated by slightly less than initially estimated in the month of October.

The report said the consumer sentiment index for October was upwardly revised to 71.7 from the preliminary reading of 71.4.

While the upward revision surprised economists, who expected the index to be unrevised, the final reading was still below September's 72.8.

The Fed announcement is likely to be in the spotlight next week, although traders are also likely to keep an eye on the monthly jobs report as well as reports on manufacturing and service sector activity.

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source http://www.mt5.com/forex_news/quickview/2184908/

Gold Futures Settle Notably Lower As Dollar Climbs Up

Gold futures settled lower on Friday as the dollar firmed against major rivals, rebounding from recent losses after a report showed that inflation as measured by the Fed's preferred gauge surged in September, supporting expectations for a tapering announcement as soon as next week.

Traders looked ahead to the Federal Reserve's monetary policy, due on Wednesday (November 3). The Fed is widely expected to announce plans to begin scaling back its asset purchase program.

The dollar index climbed to 94.30, gaining more than 1%.

Gold futures for December ended lower by $18.70 or about 1% at $1,783.90 an ounce.

Despite ending the session and the week as well on a negative note, gold futures posted a decent gain in October, after having suffered a loss of about 3% in the previous month.

Silver futures for December ended lower by $0.171 at $23.949 an ounce, while Copper futures for December settled at $4.3680 per pound, down $0.0705 from the previous close.

Data from the Commerce Department showed that the U.S. personal consumption expenditures index grew 4.4% on year, from 4.2% in August. On an annual basis, the core personal consumption expenditures index remained at 3.6% for the fourth straight month.

The data showed personal spending climbed by 0.6% in September after jumping by an upwardly revised 1% in August, while personal income decreased by 1% in September, after inching up by 0.2% a month earlier.

A separate report from the University of Michigan showed the consumer sentiment index for October was upwardly revised to 71.7 from the preliminary reading of 71.4.

Flash data from Eurostat showed earlier today that Eurozone inflation accelerated sharply to the highest since 2008 on higher energy prices, rising to 4.1% in the month, from 3.4% in September. This was also faster than the economists' forecast of 3.7%.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184906/

Austria Q3 Growth Exceeds Expectations

Austria's economy grew at a faster than expected rate in the third quarter, though the pace of expansion slowed from the previous three months, preliminary estimates from the WIFO economic institute showed Friday. Gross domestic product grew 3.3 percent from the second quarter, when the economy expanded 4.0 percent. Economists had forecast 2.5 percent growth. The Covid-19 pandemic-related mobility restrictions were largely relaxed or lifted in the third quarter, leading to a strong increase of 8.2 percent in household consumption. Consequently, the relevant service sector also expanded very strongly. Meanwhile, industrial growth stagnated and construction output declined. Investments shrank after growth in the previous two quarters. Both exports and imports decreased. Compared to the same quarter a year ago, GDP increased 4.8 percent following a 12.6 percent jump in the second quarter.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184905/

*Japan Industrial Production -5.4% On Month In September

Japan Industrial Production -5.4% On Month In September

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source http://www.mt5.com/forex_news/quickview/2184790/

Tokyo Overall Inflation Rises Just 0.1% On Year In October

Overall inflation in the Tokyo region of Japan was up 0.1 percent on year in October, the Ministry of Internal Affairs and Communications said on Friday.

That was in line with forecasts and down from 0.3 percent in September.

Core CPI, which excludes volatile food prices, also rose just 0.1 percent on year - unchanged from the previous month but shy of expectations for 0.3 percent.

On a seasonally adjusted monthly basis, overall inflation was down 0.4 percent and core CPI slipped 0.2 percent.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184789/

Japan Jobless Rate Unchanged At 2.8% In September

The unemployment rate in Japan came in at a seasonally adjusted 2.8 percent in September, the Ministry of Internal Affairs and Communications said on Friday.

That was in line with expectations and unchanged from the August reading.

The job-to-applicant ratio was 1.16, exceeding expectations for 1.14, which would have been unchanged from the previous month.

The participation rate was 62.3 percent, matching forecasts and down from 62.4 percent a month earlier.

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source http://www.mt5.com/forex_news/quickview/2184788/

*Tokyo Overall Inflation +0.1% On Year In October; Core CPI +0.1%

Tokyo Overall Inflation +0.1% On Year In October; Core CPI +0.1%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184787/

*Japan Unemployment Rate 2.8% In September

Japan Unemployment Rate 2.8% In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184786/

Gold Prices at Risk, Eyeing the Fed’s Key Inflation Gauge. Will XAU/USD Clear Support?

Gold prices consolidated despite the US Dollar falling on softer GDP data. XAU/USD may be at risk if the Fed’s preferred gauge of inflation surprises higher to wrap up the week. Via DailyFX - Market News https://ift.tt/32vveVH

South Korea Industrial Output Falls 0.8% In September

Industrial output in South Korea was down a seasonally adjusted 0.8 percent on month in September, Statistics Korea said on Friday.

That missed expectations for a decline of 0.3 percent following the 0.7 percent drop in August.

On a yearly basis, industrial production sank 1.8 percent - again missing expectations for an increase of 1.4 percent following the upwardly revised 9.7 percent increase in the previous month (originally 9.6 percent).

The index of all-industry production was up 1.3 percent on month and 1.4 percent on year in September.

The Manufacturing Production Index in September fell 0.9 percent on month and 1.9 percent on year. The Manufacturing Shipment Index rose 0.2 percent on month but tumbled 5.6 percent on year. The Manufacturing Inventory Index added 1.2 percent on month and 3.3 percent on year.

The Production Capacity Index in September rose 0.1 percent on month and 0.5 percent on year. The Index of Capacity Utilization Rate shed 0.8 percent on month and 4.5 percent on year. The Manufacturing Average Capacity Utilization Rate was 73.5 percent, down 0.6 percentage points from the previous month. The Index of Services gained 1.3 percent on month and 3.3 percent on year.

The Retail Sales Index in September climbed 2.5 percent on month and 3.7 percent on year. The Equipment Investment Index lost 1.0 percent on month and 4.5 percent on year.

The Domestic Machinery Shipment Index in September climbed 1.6 percent on year. The value of Domestic Machinery Orders Received in September spiked 14.6 percent on year.

The value of Construction Completed at constant prices increased 3.5 percent on month but decreased 8.4 percent on year. The value of Construction Orders Received at current prices tumbled 22.7 percent on year.

The Composite Coincident Index in September rose 0.2 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, was flat on month.

The Composite Leading Index was also flat on month in September. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, fell 0.3 points from the previous month.

Also on Friday, Statistics Korea said that the value of retail sales in South Korea was up a seasonally adjusted 2.5 percent on month in September. That beat forecasts for a gain of 2.0 percent following the 0.8 percent decline in August.

On a yearly basis, retail sales jumped 3.7 percent, matching expectations and down slightly from 3.8 percent in the previous month.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184785/

South Korea Retail Sales Climb 2.5% In September

The value of retail sales in South Korea was up a seasonally adjusted 2.5 percent on month in September, Statistics Korea said on Friday.

That beat forecasts for a gain of 2.0 percent following the 0.8 percent decline in August.

On a yearly basis, retail sales jumped 3.7 percent, matching expectations and down slightly from 3.8 percent in the previous month.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184784/

South Korea Industrial Production Slips 0.8% In September

Industrial production in South Korea was down a seasonally adjusted 0.8 percent on month in September, Statistics Korea said on Friday.

That missed expectations for a decline of 0.3 percent following the 0.7 percent drop in August.

On a yearly basis, industrial production sank 1.8 percent - again missing expectations for an increase of 1.4 percent following the upwardly revised 9.7 percent increase in the previous month (originally 9.6 percent).

The index of all-industry production was up 1.3 percent on month and 1.4 percent on year in September.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184783/

*South Korea Retail Sales +2.5% On Month In September

South Korea Retail Sales +2.5% On Month In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184782/

*South Korea Industrial Production -0.8% On Month, -1.8% On Year In September

South Korea Industrial Production -0.8% On Month, -1.8% On Year In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184781/

What Does a Forex Spread Tell Traders?

Improve your knowledge of the spread, which is based on the buy and sell price of a currency pair. Via DailyFX - Market News https://ift.tt/32vveVH

Japan Data On Tap For Friday

Japan is scheduled to release a raft of data on Friday, headlining a busy day for Asia-Pacific economic activity. On tap are September figures for unemployment, industrial production and housing starts, as well as October data for consumer confidence and Tokyo inflation.

The jobless rate is expected to hold steady at 2.8 percent and the job-to-applicant ratio is also expected to be unchanged at 1.14. In August, industrial production was down 3.6 percent on month and up 8.8 percent on year. Housing starts are called steady at an annual 7.5 percent.

The consumer confidence index had a score of 37.8 in September, while overall Tokyo inflation was up 0.3 percent on year and core CPI rose an annual 0.1 percent.

Australia will provide September numbers for retail sales and private sector credit, as well as Q3 data for producer prices. In August, retail sales fell 1.7 percent on month, while private sector credit rose 0.6 percent on month and 4.7 percent on year. Producer prices in Q2 gained 0.7 percent on quarter and 2.2 percent on year.

The Philippines will see September results for producer prices; in August, producer prices fell 1.8 percent on year.

South Korea will provide September figures for industrial production and retail sales. Industrial production is tipped to fall 0.3 percent on month and rise 1.4 percent on year after shedding 0.7 percent on month and climbing 9.6 percent on year in August. Retail sales sank 0.8 percent on month and advanced 3.8 percent on year in August.

Singapore will release September numbers for bank lending, import prices, export prices and producer prices and Q3 figures for unemployment and business confidence.

In August, bank lending was worth SGD790.1 billion, while import prices rose 12.8 percent on year, export prices jumped 14.2 percent on year and producer prices spiked an annual 17.0 percent. The jobless rate in Q2 was 2.7 percent and the business confidence index score was 20.0.

Taiwan will provide Q3 data for gross domestic product, with forecasts suggesting an increase of 4.0 percent on year - slowing from 7.43 percent in the previous three months.

Thailand will release September results for current account and its coincident index; in August, the current account deficit was $2.5 billion and the coincident index score was 125.70.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184780/

South Korea Business Sentiment Steady In October - BoK

Business confidence in South Korea was little changed in October, the Bank of Korea said in Friday's Business Survey Index on business conditions in the manufacturing sector - posting a score of 90, unchanged from the September reading.

The outlook fell from 93 to 88.

In the non-manufacturing sector, the BSI on business conditions for October was 84, up 5 points from the previous month, and that for the outlook for the following month also rose by 4 points to 85.

The Economic Sentiment Index (ESI) - a composite of the BSI and the CSI (Consumer Survey Index) - for October was 105.6, up 1.0 point from September.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184779/

*South Korea Business Confidence Index Unchanged At 90.0 In October - BoK

South Korea Business Confidence Index Unchanged At 90.0 In October - BoK

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184778/

Dollar Extends Losses Against Major Counterparts

The U.S. dollar traded weak against major rivals on Thursday with investors reacting to data showing a significant drop in U.S. GDP growth in the third quarter, and digesting the European Central Bank's policy statement.

Traders also reacted to policy announcements from the Bank of Canada and the Bank of Japan.

A report from the Commerce Department showed a dramatic slowdown in the pace of U.S. economic growth in the third quarter. The report said real gross domestic product increased by 2% in the third quarter after jumping by 6.7% in the second quarter. Economists had expected the pace of GDP growth to slow to 2.7%.

Data from the Labor Department showed initial jobless claims decreased for the fourth straight week in the week ended October 23rd, dipping to 281,000, a decrease of 10,000 from the previous week's revised level 291,000.

Meanwhile, pending home sales in the U.S. showed a notable pullback in the month of September after spiking in August, according to a report released by the National Association of Realtors on Thursday.

NAR said its pending home sales slumped by 2.3% to 116.7 in September after surging 8.1% to 119.4 in August. Economists had expected pending home sales to come in unchanged.

The dollar index, which dropped to 93.28 earlier in the session, is currently at 93.37, down nearly 0.5% from the previous close.

Against the Euro, the dollar has weakened to 1.1684, from 1.1603. The European Central Bank left its key interest rates and its forward guidance on asset purchases unchanged, in line with expectations, amid concerns over high inflation.

Policymakers expect key interest rates to "remain at their present or lower levels until it sees inflation reaching two per cent well ahead of the end of its projection horizon and durably for the rest of the projection horizon," the bank reiterated.

The Pound Sterling has firmed to $1.3797, gaining more than 0.4%.

The Yen is firmer by about 0.2% at 113.58 a dollar. The Bank of Japan today maintained its massive monetary stimulus and downgraded its real GDP growth and consumer inflation forecasts.

Against the Aussie, the dollar is at 0.7544, after having settled at 0.7518 on Wednesday.

The Swiss franc has firmed to 0.9121 a dollar from 0.9181, while the Loonie has strengthened to 1.2343 a dollar from 1.2361. On Wednesday, the Bank of Canada terminated its quantitative easing earlier than expected and suggested the possibility of a rate hike in the middle quarters of 2022.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184777/

Trading Forex at the News Release

Learn how to trade forex news at the release with our top news trading strategies Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Give Back Ground Following Recent Strength

After moving sharply higher over the past few sessions, treasuries gave back some ground during trading on Thursday.

Bond prices fluctuated in morning trading but remained firmly negative throughout the afternoon. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 3.9 basis points to 1.568 percent.

The pullback by treasuries came following the release of a Labor Department report showing initial jobless claims decreased for the fourth straight week in the week ended October 23rd.

The report said initial jobless claims dipped to 281,000, a decrease of 10,000 from the previous week's revised level 291,000. Economists had expected jobless claims to come in unchanged compared to the 290,000 originally reported for the previous week.

With the modest decrease, jobless claims once again fell to their lowest level since hitting 256,000 in the week ended March 14, 2020.

Meanwhile, traders largely shrugged off a report from the Commerce Department showing a dramatic slowdown in the pace of U.S. economic growth in the third quarter, potentially viewing the data as old news.

The Commerce Department said real gross domestic product increased by 2.0 percent in the third quarter after jumping by 6.7 percent in the second quarter. Economists had expected the pace of GDP growth to slow to 2.7 percent.

The bigger than expected slowdown in GDP growth came as consumer spending rose by 1.6 percent in the third quarter after spiking by 12.0 percent in the second quarter.

Despite the weaker GDP growth in the third quarter, Bernd Weidensteiner, Senior Economist at Commerzbank, predicted the Federal Reserve would not be dissuaded from deciding to tapering its bond purchases at its meeting next week.

A report on personal income and spending may attract attention on Friday, although trading activity may be somewhat subdued ahead of next week's Fed meeting.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184776/

Oil Futures Settle Marginally Higher

Crude oil futures settled marginally up on Thursday, recovering well after languishing in the red following an early setback.

Oil prices fell sharply early on in the session, weighed down by recent data showing an increase in U.S. crude inventories and amid prospects of Iranian crude entering the market.

Concerns about outlook for energy demand due to rising coronavirus cases in China and fears of fresh lockdown measures in Russia contributed as well to oil's decline earlier in the session.

West Texas Intermediate Crude oil futures for December ended up by $0.15 or about 0.2% at $82.81 a barrel, after plunging to around $80.60 earlier in the day.

Brent crude futures were down $0.31 or 0.37% at $83.56 a little while ago.

Meanwhile, natural gas futures tumbled nearly 7% today following reports Russian President Vladimir Putin has ordered Gazprom to send more natural gas to Europe next month.

Data released by U.S. Energy Information Administration (EIA) on Wednesday showed crude oil inventories increased by about 4.3 million barrels last week, more than twice the expected increase of 1.9 million barrels.

Gasoline stocks fell by nearly 2 million barrels last week, while distillate inventories dropped by about 432,000 barrels.

Iran's nuclear negotiator Ali Bagheri Khan said on Wednesday that talks with world powers regarding efforts to revive Iran's nuclear deal will resume by the end of next month.

A deal between Iran and world powers on the nuclear pact could result in the return of about 1.3 million b/d of Iranian oil to global exports markets.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184775/

Gold Futures Settle Modestly Higher As Dollar Slips On Weak GDP Data

Gold futures settled higher on Thursday as demand for the safe-haven asset rose after the dollar drifted down after data showed a significant drop in U.S. GDP growth in the third quarter.

The dollar index dropped to 93.28, losing more than 0.5% from the previous close.

Gold futures for December ended up by $3.80 or about 0.2% at $1,802.60 an ounce.

Silver futures for December closed lower by $0.071 or about 0.3% at $24.120 an ounce, while Copper futures for December settled at $4.4385 per pound, gaining $0.0490 or 1.1%.

A report from the Commerce Department showed a dramatic slowdown in the pace of U.S. economic growth in the third quarter. The report said real gross domestic product increased by 2% in the third quarter after jumping by 6.7% in the second quarter. Economists had expected the pace of GDP growth to slow to 2.7%.

Data from the Labor Department showed initial jobless claims decreased for the fourth straight week in the week ended October 23rd, dipping to 281,000, a decrease of 10,000 from the previous week's revised level 291,000.

Investors also reacted to the policy decisions of central banks. On Wednesday, the Bank of Canada terminated its quantitative easing earlier than expected and suggested the possibility of a rate hike in the middle quarters of 2022.

The Bank of Japan today maintained its massive monetary stimulus and downgraded its real GDP growth and consumer inflation forecasts.

Meanwhile, the European Central Bank left its key interest rates and its forward guidance on asset purchases unchanged, in line with expectations, amid concerns over high inflation.

Policymakers expect key interest rates to "remain at their present or lower levels until it sees inflation reaching two per cent well ahead of the end of its projection horizon and durably for the rest of the projection horizon," the bank reiterated.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184774/

New Zealand Dollar at Risk as AMZN, AAPL Earnings Miss. NZD/USD Eyes Resistance

The sentiment-linked New Zealand Dollar gained as the Dow Jones and S&P 500 climbed. But, soft Amazon and Apple earnings risk evaporating NZD/USD’s progress during Asia-Pacific trade. Via DailyFX - Market News https://ift.tt/32vveVH

*BoJ Lifts FY 2022 Real GDP Growth Outlook To 2.9% From 2.7%

BoJ Lifts FY 2022 Real GDP Growth Outlook To 2.9% From 2.7%

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source http://www.mt5.com/forex_news/quickview/2184677/

*BoJ Lifts FY 2022 Real GDP Growth To 2.9% From 2.7%

BoJ Lifts FY 2022 Real GDP Growth To 2.9% From 2.7%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184676/

*Dutch Oct Producer Confidence 12.3 Vs. 11.1 In September

Dutch Oct Producer Confidence 12.3 Vs. 11.1 In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184674/

*BoJ Retains Policy Rate At -0.1% As Expected

BoJ Retains Policy Rate At -0.1% As Expected

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184675/

*Malaysia September Trade Surplus MYR 26.1 Billion, Consensus MYR 22.5 Billion

Malaysia September Trade Surplus MYR 26.1 Billion, Consensus MYR 22.5 Billion

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184673/

*Malaysia September Imports Up 26.5% On Year, Consensus 15.4%

Malaysia September Imports Up 26.5% On Year, Consensus 15.4%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184672/

*Malaysia September Exports Up 24.7% On Year, Consensus 14.6%

Malaysia September Exports Up 24.7% On Year, Consensus 14.6%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184671/

British Pound (GBP) Price Outlook: EUR/GBP Downside Risk as ECB Meets

This session’s monetary policy announcement by the European Central Bank will dominate trading in EUR/GBP near term, and there’s a risk the pair will fall as the ECB stays determinedly dovish. Via DailyFX - Market News https://ift.tt/32vveVH

Gold Prices at Risk with US GDP in the Spotlight Before Upcoming FOMC

Gold prices are looking to third-quarter US GDP data to help set the stage for next week’s pivotal FOMC meeting. Chart positioning hints that a downturn may be brewing. Via DailyFX - Market News https://ift.tt/32vveVH

Australian Dollar Poised as Yields Roar and Oil Sinks. Will AUD/USD Get Going?

The Australian Dollar has been sidelined in an action-packed day in Asia, with central banks lining up to tighten. Can AUD/USD break out of the doldrums? Via DailyFX - Market News https://ift.tt/32vveVH

Australia Export Prices Climb 6.2% On Quarter In Q2

Export prices in Australia were up 6.2 percent on quarter in the third quarter of 2021, the Australian Bureau of Statistics said on Thursday - slowing from the 13.2 percent jump in Q2.

Import prices rose 5.4 percent on quarter, accelerating from 1.9 percent in the three months prior.

On a yearly basis, export prices skyrocketed 41.0 percent and import prices jumped 6.4 percent.

The main contributors to the jump in export prices included coal, coke and briquettes; gas, natural and manufactured goods; non-ferrous metals; meat and meat preparations; and petroleum, petroleum products and related materials.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184670/

*Australia Export Prices +6.2% On Quarter In Q3; Import Prices +5.4%

Australia Export Prices +6.2% On Quarter In Q3; Import Prices +5.4%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184669/

Japan Retail Sales Fall 0.6% On Year In September

The total value of retail sales in Japan was down 0.6 percent on year in September, the Ministry of Economy, Trade and Industry said on Thursday - coming in at 12.041 trillion yen.

That beat forecasts for an annual decline of 2.3 percent following the 3.2 percent yearly drop in August.

Wholesale sales were up 8.7 percent on year at 34,386 trillion yen, while sales from large-scale retailers jumped an annual 15.5 percent to 11.187 trillion yen.

For the third quarter of 2021, the value or retail sales eased 0.4 percent on year at 36.794 trillion yen.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184668/

*Japan Retail Sales -0.6% On Year In September

Japan Retail Sales -0.6% On Year In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184667/

Crude Oil Forecast: WTI Eases on Iranian Supply Prospects, US Inventory Build

Oil prices are on the move lower after traders digested a higher-than-expected US inventory build. Moreover, Iran-EU nuclear talks are set to restart, which may eventually see US sanctions removed. Via DailyFX - Market News https://ift.tt/32vveVH

Japan Rate Decision Due On Thursday

The Bank of Japan will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity.

The BoJ is widely expected to keep its benchmark lending rate steady at -0.1 percent, although other means of stimulus may be introduced.

Japan also will see September figures for retail sales; in August, sales were down 4.1 percent on month and 3.2 percent on year.

Australia will release Q3 numbers for import and export prices; in the three months prior, import prices were up 1.9 percent on quarter and export prices jumped 13.2 percent on quarter.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184666/

Dollar Exhibits Weakness Against Major Rivals

The U.S. Dollar drifted lower against most of its major rivals on Wednesday, with traders reacting to the monetary policy announcement from the Bank of Canada, and looking ahead to the policy statements from the Bank of Japan and the European Central Bank.

The Canadian central bank maintained its benchmark rate at 0.25%, as expected, but terminated the quantitative easing program, reflecting the progress in the economic recovery from the crisis.

The bank said it is now moving into the reinvestment phase, during which it will purchase Government of Canada bonds to replace maturing bonds.

In U.S. economic news, Data released by the Commerce Department showed durable goods orders pulled back by much less than expected in the month of September, falling by 0.4% after jumping by a downwardly revised 1.3% in August.

Economists had expected durable goods orders to slump by 1.1% compared to the 1.8% spike that had been reported for the previous month.

The dollar index dropped to 93.69 by mid-morning, and after recovering to 93.93 around noon, slipped again before advancing to 93.89, down just marginally from the previous close.

Against the Euro, the dollar is trading at 1.1602, down slightly from Tuesday's close.

The Pound Sterling is weak against the dollar, fetching $1.3739 a unit. U.K. Chancellor Rishi Sunak announced public spending would increase by a massive 150 billion pounds in an effort to underpin a strong economic recovery after the crisis caused by the coronavirus pandemic.

Sunak also confirmed a rise in the U.K.'s national living wage from ?8.91 per hour to ?9.50, which is set to come into effect from April 1.

The yen firmed to 113.83 a dollar, gaining from 114.16, ahead of monetary policy announcement.

Against the Aussie, the dollar is at 0.7519, easing from 0.7500. Australia's core inflation accelerated to 2.1% in the third quarter, from 1.6% in the second quarter. The expected rate was 1.8%. This was the strongest inflation since 2015.

The Swiss franc is at 0.9182 against the dollar, gaining from 0.9199.

The dollar is trading at C$1.2360, down from C$1.2390 after the Bank of Canada left its interest rate unchanged and terminated the quantitative easing program, reflecting the progress in the economic recovery from the crisis.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184665/

Treasuries Move Notably Higher As Bank Of Canada Ends Quantitative Easing

Treasuries moved significantly higher over the course of the trading day on Wednesday, extending the upward trend seen over the past few sessions.

Bond prices showed a steady move to the upside as the day progressed, closing firmly in positive territory. Subsequently, the yield on the benchmark ten-year note, slumped 9 basis points to 1.529 percent.

The ten-year yield closed lower for the fourth straight session, pulling back further off the five-month closing high set last Thursday.

The continued strength among treasuries came after the Bank of Canada announced that it is ending quantitative easing.

Citing the progress made in the economic recovery, the Bank of Canada said it has decided to end quantitative easing and keep its overall holdings of Government of Canada bonds roughly constant.

The Bank of Canada follows several other central banks around the world that recently begun scaling back pandemic-era stimulus.

Following its monetary policy meeting next week, the Federal Reserve could announce plans to begin tapering its asset purchases.

Treasuries saw further upside after the Treasury Department revealed this month's auction of $61 billion worth of five-year notes also attracted above average demand.

The five-year note auction drew a high yield of 1.157 percent and a bid-to-cover ratio of 2.55, while the ten previous five-year note auctions had an average bid-to-cover ratio of 2.36.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

Meanwhile, bond traders largely shrugged off a Commerce Department report showing durable goods orders pulled back by much less than expected in the month of September.

The Commerce Department said durable goods orders fell by 0.4 percent in September after jumping by a downwardly revised 1.3 percent in August.

Economists had expected durable goods orders to slump by 1.1 percent compared to the 1.8 percent spike that had been reported for the previous month.

Excluding a steep drop in orders for transportation equipment, durable goods orders climbed by 0.4 percent in September after rising by 0.3 percent in August. The increase matched economist estimates.

A preliminary reading on third quarter GDP may attract attention on Thursday along with reports on weekly jobless claims and pending home sales.

Bond traders are also likely to keep an eye on the results of the Treasury's auction of $62 billion worth of seven-year notes.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184664/

Bank of Japan (BoJ) Preview: Outlook Report to Provide Fresh Update

The Bank of Japan is set to hold their monetary meeting across 27 – 28 October 2021, as markets look towards its outlook report for guidance. Via DailyFX - Market News https://ift.tt/32vveVH

How to Trade the Impact of Politics on Global Financial Markets

In a slowing global economy, the threat of geopolitical risks destabilizing global growth are elevated and open the door to violent volatility – and trading opportunities. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Futures Settle Sharply Lower As Stockpiles Rise

Crude oil prices declined sharply on Wednesday after data showed a larger than expected increase in U.S. crude stockpiles in the week ended October 22nd.

Oil prices were also weighed down by prospects of Iran freeing itself from U.S. sanctions and start selling oil to major importers again.

West Texas Intermediate crude oil futures for December ended down by $1.99 or about 2.35% at $82.66 a barrel.

Brent crude futures were down $1.70 or 2.01% at $83.95 a barrel a little while ago.

Data released by U.S. Energy Information Administration (EIA) this morning showed crude oil inventories increased by about 4.3 million barrels last week, more than twice the expected increase of 1.9 million barrels.

Gasoline stocks fell by nearly 2 million barrels last week, while distillate inventories dropped by about 432,000 barrels.

The American Petroleum Institute said late Tuesday that crude oil inventories rose 2.3 million barrels in the week ending Oct. 22, while analysts had expected a 1.9 million barrel gain.

Gasoline inventories rose by 500,000 barrels for the week and distillate stocks increased by 986,000 barrels, compared with a forecast for both to drop.

Crude stocks at the Cushing, Okla., storage hub, meanwhile, fell by 3.7 million barrels for the week.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184663/

Gold Futures Settle Higher On Weak Dollar

Gold futures settled higher on Wednesday as a weak dollar and lower Treasury yields pushed up the demand for the safe haven yellow metal.

Traders, in addition to digesting UK's budget and the Bank of Canada's policy announcement, also looked ahead to the upcoming monetary policy announcements from the Bank of Japan and the European Central Bank.

The Bank of Canada today left its interest rate unchanged, but terminated its Quantitative Easing program, reflecting the progress in the economic recovery from the crisis.

UK Chancellor Rishi Sunak raised the public spending by a massive GBP 150 billion in an effort to underpin a strong economic recovery after the crisis caused by the coronavirus pandemic.

The dollar index dropped to 93.69 before recovering some ground. It was last seen hovering around 93.80, down 0.16% from the previous close.

The yield on U.S. 10-year Treasury note dropped to around 1.565% around noon, while the yield on 30-year Treasury bond fell to 1.973%.

Gold futures for December ended up by $5.40 or about 0.3% at $1,788.80 an ounce, recovering well from the day's low of $1,784.30. Gold futures had ended lower by about 0.7% on Tuesday.

Silver futures for December ended higher by $0.103 at $24.191 an ounce, while Copper futures for December settled at $4.3895 per pound, down $0.0965 from the previous close.

Data released by the Commerce Department showed durable goods orders pulled back by much less than expected in the month of September, falling by 0.4% after jumping by a downwardly revised 1.3% in August.

Economists had expected durable goods orders to slump by 1.1% compared to the 1.8% spike that had been reported for the previous month.

Excluding a steep drop in orders for transportation equipment, durable goods orders climbed by 0.4% in September after rising by 0.3% in August. The increase matched economist estimates.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184662/

Australian Dollar Forecast: AUD/USD Gains After Tech Stocks Rise on Wall Street, BoJ Eyed

The Australian Dollar is up versus the US Dollar as rosy sentiment sees Wall Street traders bid tech stocks higher. The Bank of Japan rate decision and Australian export/import prices are in focus. Via DailyFX - Market News https://ift.tt/32vveVH

EUR/GBP Likely to be Choppy as BOE-ECB Risks Unfold

EUR/GBP likely to remain in a noisy range amid key central bank meetings Via DailyFX - Market News https://ift.tt/32vveVH

*UK Oct BRC Shop Prices Fall 0.4% On Year

UK Oct BRC Shop Prices Fall 0.4% On Year

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184600/

*Finland Oct Industrial Confidence 22 Vs. 21 In September

Finland Oct Industrial Confidence 22 Vs. 21 In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184598/

*Finland Oct Consumer Confidence 2.7 Vs. 6.0 In September

Finland Oct Consumer Confidence 2.7 Vs. 6.0 In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184599/

European Economics Preview: UK Autumn Budget Announcement Due

UK Chancellor of the Exchequer Rishi Sunak is set to unveil his Autumn Budget on Wednesday with stringent fiscal rules.

The chancellor is expected to increase NHS spending and investment on skill development. The budget announcement is due at 8.30 AM ET.

Other economic reports due for the day are as follows

At 2.00 am ET, the market research group Gfk publishes Germany's consumer sentiment survey data. The forward-looking consumer sentiment index is seen at -0.5 in November versus +0.3 in October.

In the meantime, Destatis is scheduled to issue Germany's import prices for September. Economists forecast import price inflation to rise to 18 percent annually from 16.5 percent in August. At 2.45 am ET, the French statistical office Insee releases consumer confidence and producer prices data. The consumer sentiment index is expected to fall marginally to 101 in October from 102 in September.

At 3.00 am ET, foreign trade and economic confidence survey results are due from Turkey.

Half an hour later, Statistics Sweden is slated to publish foreign trade data for September.

At 4.00 am ET, the European Central Bank is scheduled to issue monetary aggregates for September. M3 money supply is expected to climb 7.5 percent annually after rising 7.9 percent in August.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184597/

*New Zealand Oct ANZ Business Confidence -13.4 Vs. -7.2 In Sep, Flash -8.6

New Zealand Oct ANZ Business Confidence -13.4 Vs. -7.2 In Sep, Flash -8.6

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184595/

Bitcoin (BTC), Ethereum (ETH) Slump, Alt-Coins Hit Hard

The cryptocurrency market is trying to recover from an early morning sell-off that sent prices plummeting across the board. Via DailyFX - Market News https://ift.tt/32vveVH

GBP/AUD Price Outlook: Nearing Support After Sharp Falls, Inflation Jitters in Focus

GBP/AUD has fallen steeply in recent weeks but is now approaching an important band of support as inflation concerns dominate global currency trading. Via DailyFX - Market News https://ift.tt/32vveVH

Gold Price Chart Hints at Turn as Inflation Fears Crop Up on Earnings Calls

Gold price chart positioning hints a downturn may be ahead as worries about inflation crop up on Q3 corporate earnings calls, stoking Fed tightening speculation. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Prices Hold Lofty Levels as US Dollar Softens on Rising Inflation and Yields. Where to for WTI?

WTI crude oil has managed to maintain high prices at a time when inflation concerns are growing. Will it keep going to drive up inflation even further? Via DailyFX - Market News https://ift.tt/32vveVH

*Australia Inflation +0.8% On Quarter, +3.0% On Year In Q3

Australia Inflation +0.8% On Quarter, +3.0% On Year In Q3

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184594/

New Zealand Has Record Trade Deficit In September

New Zealand posted a record merchandise trade deficit of NZ$2.171 billion in September, Statistics New Zealand said on Wednesday.

That follows the upwardly revised NZ$2.139 billion deficit in August.

Exports climbed NZ$387 million or 10 percent on year to NZ$4.40 billion following the upwardly revised NZ$4.36 billion total in the previous month (originally NZ$4.35 billion).

Imports surged NZ$1.5 billion or 30 percent on year to NZ$6.57 billion, up from the upwardly revised NZ$6.50 billion a month earlier (originally NZ$6.49 billion).

Annual goods exports were valued at $62 billion, up NZ$1.2 billion (2.1 percent) from the previous year. Annual goods imports were valued at $66 billion, up NZ$7.0 billion (12 percent) from the previous year.

The annual goods trade balance was a deficit of NZ$4.1 billion. In the year ended September 2020, there was a surplus of NZ$1.7 billion.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184593/

Australia Inflation Data Due On Wednesday

Australia will on Wednesday release Q3 numbers for consumer prices, highlighting a modest day for Asia-Pacific economic activity. Inflation is tipped to rise 0.8 percent on quarter and 3.1 percent on year after gaining 0.8 percent on quarter and 3.8 percent on year in the three months prior.

Australia also will see October results for the business confidence index from ANZ; in September, the index score was -7.2.

New Zealand will provide September figures for imports, exports and trade balance. In August, imports were worth NZ$6.49 billion and exports were at NZ$4.35 billion for a trade deficit of NZ$2.144 billion.

China will see September numbers for industrial profits; in August, profits surged 49.5 percent on year.

Thailand will release September data for industrial production; in August, production was down 4.15 percent on year.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184592/

*New Zealand Has NZ$2.171 Billion Trade Deficit In September

New Zealand Has NZ$2.171 Billion Trade Deficit In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184591/

South Korea Consumer Confidence Index Climbs To 106.8 In October - BoK

Consumer confidence in South Korea improved in October, the latest survey from the Bank of Korea showed on Wednesday with a Composite Consumer Sentiment Index score of 106.8 - up from 103.8 in September.

Consumer sentiment for current living standards was one point higher than in September at 92, while the outlook was two points higher at 98. Consumer sentiment related to future household income was two points higher than in September at 101, while the outlook for future household spending was three points higher at 112.

Consumer sentiment for current domestic economic conditions was two points higher than in the previous month at 80, while the outlook was two points higher at 96.

The expected inflation rate for the following year was 2.4 percent.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184590/

*South Korea Consumer Confidence Index 106.8 In October - BoK

South Korea Consumer Confidence Index 106.8 In October - BoK

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184589/

Dollar Recovers After Early Weakness As Traders Eye Policy Meetings

The U.S. dollar, which drifted lower in the European session, recovered and gained in strength subsequently, riding on strong consumer confidence and new home sales data.

Meanwhile, traders looked ahead to upcoming monetary policy meetings of the European Central Bank(ECB), the Bank of Canada and the Bank of Japan.

The ECB is expected to take a dovish stance when it meets on Thursday. Central bank meetings in Japan and Canada are also scheduled this week.

The U.S. Federal Reserve meets next week, and it is likely that the U.S. central bank will announce plans to begin scaling back its asset purchase program.

A report from the Commerce Department showed new home sales in the U.S. skyrocketed in the month of September, soaring by 14% to an annual rate of 800,000 after falling by 1.4% to a downwardly revised rate of 702,000 in August. Economists had expected new home sales to jump by 2.7% to an annual rate of 760,000.

The Conference Board said its consumer confidence index climbed to 113.8 in October from an upwardly revised 109.8 in September. Economists had expected the consumer confidence index to edge down to 109.0 from the 109.3 originally reported for the previous month.

The dollar index, which dropped to 93.71, climbed to 94.02 by noon before easing a bit. At 93.93, the index is up 0.13% from the previous close.

Against the Euro, the dollar is trading at 1.1600 up from Monday's close of 1.1611.

The Pound Sterling is little changed against the dollar, fetching $1.3765 a unit.

The dollar is trading at 114.14 yen, gaining nearly 0.4% from 113.71.

Against the Aussie, the dollar advanced to 0.7526 before drifting down to 0.7507.

The Swiss franc is roughly flat at 0.9196 a dollar, after having firmed to 0.9187 from 0.9227, while the Loonie trading at 1.2386 a dollar.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184588/

Australian Dollar Jumps as RBA Preferred CPI Beats Estimates. Can AUD/USD Go Higher?

The Australian Dollar reacted to 3rd quarter CPI numbers by immediately testing the upper bound of the recent range. Will AUD/USD resume the trend? Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Extend Rebound After Strong Demand For Two-Year Note Auction

After showing a lack of direction in morning trading on Tuesday, treasuries moved modestly higher over the course of the afternoon.

Bond prices extended the upward move seen over the two previous sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1.6 basis points to 1.619 percent.

With the decrease on the day, the ten-year yield pulled back further off the five-month closing high set last Thursday.

The higher close by treasuries came after the Treasury Department revealed this month's auction of $60 billion worth of two-year notes attracted above average demand.

The two-year note auction drew a high yield of 0.481 percent and a bid-to-cover ratio of 2.69, while the ten previous two-year note auctions had an average bid-to-cover ratio of 2.51.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

Meanwhile, traders largely shrugged off some upbeat U.S. economic data, including a report from the Commerce Department showing new home sales in the U.S. skyrocketed in the month of September.

The report said new home sales soared by 14.0 percent to an annual rate of 800,000 in September after falling by 1.4 percent to a downwardly revised rate of 702,000 in August.

Economists had expected new home sales to jump by 2.7 percent to an annual rate of 760,000 from the 740,000 originally reported for the previous month.

A separate report from the Conference Board showed consumer confidence reversed a three-month downward trend in October amid easing concerns about the Delta variant of the coronavirus.

The Conference Board said its consumer confidence index climbed to 113.8 in October from an upwardly revised 109.8 in September.

The rebound surprised economists, who had expected the consumer confidence index to edge down to 109.0 from the 109.3 originally reported for the previous month.

Looking ahead, a report on new orders for U.S. manufactured durable goods in the month of September may attract attention on Wednesday. Durable goods orders are expected to slump by 1.1 percent.

Bond traders are also likely to keep an eye on the results of the Treasury Department's auction of $61 billion worth of five-year notes.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184587/

Crude Oil Futures Settle Notably Higher Ahead Of Inventory Data

Crude oil futures settled higher on Tuesday, recovering well from early losses, amid increasing signs of supply shortage and higher demand for oil.

Oil prices are at multi-year highs with several countries switching to oil from gas amid power shortage. According to Goldman Sachs, switching to oil from gas may add 1 million barrels per day to oil demand.

West Texas Intermediate Crude oil futures for December ended higher by $0.89 or about 1.1% at $84.65 a barrel.

Brent crude futures are up $0.44 or 0.52% at $85.61 a barrel.

According to a Reutuers report, Russia's Deputy Prime Minister Alexander Novak has said Russia expects OPEC+ to raise its output by 400,000 barrels per day at the Nov. 4 meeting, as previously agreed.

Novak, who reportedly said, "Demand (for oil) can decline as there is still uncertainty. We also see there is yet another pandemic wave spreading across the world," added he expects oil demand to reach a pre-pandemic level by the end of next year.

Traders, who are looking ahead to weekly oil reports from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA), are also awaiting the outcome of talks between Iran and Western Powers.

The U.S. has said efforts are at "crucial phase" to revive a 2015 nuclear agreement with Iran.

The API's weekly oil report is due later today, while the EIA is scheduled to release its inventory data Wednesday morning.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184586/

Gold Futures Settle Lower As Dollar Advances

Gold prices drifted lower on Tuesday with a firm dollar and slightly higher Treasury yields curbing the demand for the safe-haven yellow metal.

Strong data on U.S. new home sales and consumer confidence lifted the dollar.

Meanwhile, traders look ahead to upcoming monetary policy meetings of the European Central Bank(ECB), the Bank of Canada and the Bank of Japan.

The ECB is expected to take a dovish stance when it meets on Thursday. Central bank meetings in Japan and Canada are also scheduled this week.

The U.S. Federal Reserve meets next week and it is likely that the U.S. central bank will announce plans to begin scaling back its asset purchase program.

The dollar index, which rallied to 94.02, after having tumbled to 93.71 in the Asian session, is currently at 93.97, up 0.17% from the previous close.

Gold futures for December ended down by $13.40 or about 0.7% at $1,793.40 an ounce, after having settled at a six-week high on Monday.

Silver futures for December ended lower by $0.504 at $24.088 an ounce, while Copper futures settled at $4.4860, down $0.0420 from the previous close.

A report from the Commerce Department showed new home sales in the U.S. skyrocketed in the month of September, soaring by 14% to an annual rate of 800,000 after falling by 1.4% to a downwardly revised rate of 702,000 in August.

Economists had expected new home sales to jump by 2.7% to an annual rate of 760,000 from the 740,000 originally reported for the previous month.

A separate report from the Conference Board showed consumer confidence reversed a three-month downward trend in October amid easing concerns about the Delta variant of the coronavirus.

The Conference Board said its consumer confidence index climbed to 113.8 in October from an upwardly revised 109.8 in September. Economists had expected the consumer confidence index to edge down to 109.0 from the 109.3 originally reported for the previous month.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184585/

How to Trade After a News Release

Looking to trade post release? Read on for more on approaching volatile conditions after news events. Via DailyFX - Market News https://ift.tt/32vveVH

Singapore Industrial Production Drops In September

Singapore's industrial production dropped in September, data from the Economic Development Board showed on Tuesday.

Industrial output declined 3.4 percent year-on-year in September, after a 11.0 percent rise in August. Production was forecast to decrease 0.5 percent.

Excluding biomedical manufacturing, industrial production gained 9.4 percent yearly in September, after a 13.5 percent rise in the preceding month.

On a monthly basis, industrial production fell 2.8 percent in September, after a 5.6 percent gain in the previous month. Economists had expected a 0.3 percent rise.

Biomedical manufacturing declined 35.9 percent annually in September and general manufacturing fell 2.7 percent.

Meanwhile, transport engineering and precision engineering increased by 12.9 percent and 30.2 percent, respectively.

Electronics surged 12.4 percent and chemicals grew by 4.9 percent.

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source http://www.mt5.com/forex_news/quickview/2184542/

Market Sentiment Positive, Stocks Benefit While US Dollar Eases | Webinar

Trader confidence remains high and that means current trends, in particular stronger stock markets and a weaker US Dollar, will likely persist for a while yet. Via DailyFX - Market News https://ift.tt/32vveVH

USD Sold, GBP/USD Flips Net Long & CAD Buying Boosted – COT Report

USD sold for second consecutive week, asset managers seek GBP ahead of possible BoE rate rise. CAD longs jump. Via DailyFX - Market News https://ift.tt/32vveVH

Finland Jobless Rate Falls In September

Finland's jobless rate decreased in September, figures from Statistics Finland showed on Tuesday.

The unemployment rate for the 15 to 74 age group fell to 7.0 percent in September from 7.5 percent in the same month last year. In August, jobless rate was 6.5 percent.

The number of unemployed persons decreased to 191,000 in September from 203,000 in the last year.

The employment rate rose to 71.7 percent in September from 71.3 percent in the same month last year. The number of employed persons grew by 17,000 from a year ago to 2.52 million.

On a seasonally adjusted basis, unemployment rate fell to 7.6 percent in September from 7.7 percent in August.

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source http://www.mt5.com/forex_news/quickview/2184541/

European Economics Preview: ECB Bank Lending Survey Data Due

Bank lending survey data from the European Central Bank is due on Tuesday, headlining a light day for the European economic news.

At 3.00 am ET, Spain's INE publishes producer prices for September. Prices had advanced 18.0 percent annually in August.

Half an hour later, September producer price data is due from Sweden. Prices had increased 15.8 percent on year in August.

At 4.00 am ET, the European Central Bank is set to issue bank lending survey results.

At 6.00 am ET, the Confederation of British Industry is slated to release Distributive Trades survey results. The retail sales balance is forecast to rise to 13 percent in October from 11 percent in September.

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source http://www.mt5.com/forex_news/quickview/2184540/

Canadian Dollar Outlook: Bank of Canada will Drive the Next Move in USD/CAD

The Bank of Canada is fully expected to leave rates untouched tomorrow, but traders should be wary of official inflation and bond-buying commentary. Via DailyFX - Market News https://ift.tt/32vveVH

Crypto Update: Bitcoin (BTC) and Ethereum (ETH) Aim for ATH as Rally Continues

Cryptos are back on the rise as investors continue to buy the dip ahead of new all-time highs Via DailyFX - Market News https://ift.tt/32vveVH

*Japan Sep Corporate Services Price Index Up 0.9% On Year Vs. 1% In Aug, Consensus 1.1%

Japan Sep Corporate Services Price Index Up 0.9% On Year Vs. 1% In Aug, Consensus 1.1%

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source http://www.mt5.com/forex_news/quickview/2184539/

*Singapore Sep Industrial Production -3.4% On Year Vs. +11.0% In August

Singapore Sep Industrial Production -3.4% On Year Vs. +11.0% In August

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source http://www.mt5.com/forex_news/quickview/2184537/

*Singapore Sep Industrial Production -2.8% On Month Vs. +5.6% In August

Singapore Sep Industrial Production -2.8% On Month Vs. +5.6% In August

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source http://www.mt5.com/forex_news/quickview/2184538/

*Finland Sep Jobless Rate 7.0% Vs. 7.5% In Last Year

Finland Sep Jobless Rate 7.0% Vs. 7.5% In Last Year

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source http://www.mt5.com/forex_news/quickview/2184536/

British Pound (GBP) Price Outlook: GBP/USD Gains Unlikely Ahead of BoE Rate Decision

GBP/USD continues to trade just under the psychologically important 1.38 level, with further upside limited ahead of the Bank of England’s next interest rate decision on November 4. Via DailyFX - Market News https://ift.tt/32vveVH

Australian Dollar Skips Up on Soft US Dollar and Positive Risk. Will it Go Higher?

The Australian Dollar moved higher today as risk assets appreciated on solid company earnings reporting a thawing of China/US relations. Can AUD/USD keep going? Via DailyFX - Market News https://ift.tt/32vveVH

Gold Prices Eye Consumer Confidence Data as Technical, Positioning Signals Clash

Gold prices rallied to wrap up Monday ahead of key US CB Consumer Confidence data. Technical analysis hints at near-term weakness, but retail trader positioning says otherwise. Via DailyFX - Market News https://ift.tt/32vveVH

South Korea GDP Expands 0.3% On Quarter In Q3

South Korea's gross domestic product rose a seasonally adjusted 0.3 percent on quarter in the third quarter of 2021, the Bank of Korea said in Tuesday's advance estimate.

That was shy of expectations for an increase of 0.6 percent and down from 0.8 percent in the previous three months.

On an annualized basis, GDP grew 4.0 percent - again missing forecasts for 4.2 percent and slowing from 6.0 percent in the three months prior.

Real gross domestic income also was up 0.3 percent on quarter and it gained 2.4 percent on year.

On the expenditure side, private consumption contracted by 0.3 percent, as expenditures on non-durable goods (e.g. foods) increased but services (e.g. restaurants & accommodation services, recreation & culture) decreased.

Government consumption rose by 1.1 percent, with increased expenditures on goods. Construction investment contracted by 3.0 percent, as civil engineering decreased. Facilities investment contracted by 2.3 percent, driven by a decrease in transportation equipment.

Exports grew by 1.5 percent, due to increases in coal & petroleum products and machinery & equipment. Imports fell by 0.6 percent, owing to decreased imports of transport equipment (e.g. motor vehicles).

On the production side, agriculture, forestry & fishing increased by 8.8 percent, as crop yields grew. Manufacturing rose by 0.2 percent, due to an increase in machinery & equipment.

Electricity, gas & water supply increased by 0.8 percent, due to an increase in gas. Construction fell by 1.7 percent, owing to a decrease in civil engineering.

Services increased by 0.4 percent, mainly in finance & insurance and information & communication.

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source http://www.mt5.com/forex_news/quickview/2184535/

South Korea GDP Gains 0.3% On Quarter In Q3

South Korea's gross domestic product expanded a seasonally adjusted 0.3 percent on quarter in the third quarter of 2021, the Bank of Korea said in Tuesday's advance estimate.

That was shy of expectations for an increase of 0.6 percent and down from 0.8 percent in the previous three months.

On an annualized basis, GDP grew 4.0 percent - again missing forecasts for 4.2 percent and slowing from 6.0 percent in the three months prior.

Real gross domestic income also was up 0.3 percent on quarter and it gained 2.4 percent on year.

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source http://www.mt5.com/forex_news/quickview/2184534/

*South Korea GDP +0.3% On Quarter, +4.0% On Year In Q3

South Korea GDP +0.3% On Quarter, +4.0% On Year In Q3

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source http://www.mt5.com/forex_news/quickview/2184533/

South Korea GDP Data Due On Tuesday

South Korea will on Tuesday release an advance estimate of Q3 gross domestic product, highlighting a light day for Asia-Pacific economic activity.

GDP is expected to add 0.6 percent on quarter and 4.2 percent on year, slowing from 0.8 percent on quarter and 6.0 percent on year in the three months prior.

Singapore will provide September figures for industrial production, with forecasts suggesting a decline of 0.5 percent on year following the 11.2 percent spike in August.

Hong Kong will see September numbers for imports, exports and trade balance. In August, imports were up 36.2 percent on year and exports rose an annual 25.9 percent for a trade deficit of HKD26.3 billion.

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source http://www.mt5.com/forex_news/quickview/2184532/

Dollar Climbs Against Major Rivals

The U.S. dollar firmed against most of its major rivals on Monday, as concerns over rising inflationary pressures lifted the demand for the safe-have currency.

Although the Federal Reserve Chairman Jerome Powell had commented on Friday that the central bank will hold off on raising rates for now, the prospects of a tighter monetary policy in the near futures pushed up the dollar.

Traders were also making their moves, with the upcoming monetary policy meetings of the Bank of Japan and the European Central Bank in focus.

The dollar index, which rose to 93.96, pared some gains subsequently and is at 93.83, up 0.2% from the previous close.

Against the Euro, the dollar firmed to 1.1611, gaining from 1.1647.

Against Pound Sterling, the dollar dropped a bit to 1.3766, posting a marginal loss.

The Yen weakened to 113.73 a dollar, easing from 113.50.

Against the Aussie, the dollar weakened to 0.7495 from 0.7466.

The Swiss franc slid to 0.9198 a dollar from 0.9162.

The Loonie weakened to 1.2386 a dollar, after having firmed to 1.2339 earlier in the day.

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source http://www.mt5.com/forex_news/quickview/2184531/

Treasuries Show Another Modest Move Back To The Upside

Treasuries moved modestly higher during trading on Monday, extending the rebound seen over the course of the previous session.

Bond prices moved to the upside early in the session and remained positive throughout the rest of the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped 2 basis points to 1.635 percent.

The continued recovery by treasuries came as traders picked up bonds at reduced levels following recent weakness, which drove the ten-year yield to a five-month closing high last Thursday.

Trading activity was somewhat subdued, however, as a lack of major U.S. economic data kept some traders on the sidelines.

Some traders may also have been reluctant to make more significant moves ahead of the Federal Reserve's monetary policy meeting next week.

The Fed is likely to leave interest rates unchanged but could announce plans to begin scaling back its asset purchase program.

Trading on Tuesday may be impacted by reaction to reports on home prices, new home sales and consumer confidence.

Bond traders are also likely to keep an eye on the results of the Treasury Department's auction of $60 billion worth of two-year notes.

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source http://www.mt5.com/forex_news/quickview/2184530/

Crude Oil Futures Failed To Hold Gains And Settled Flat On Monday

Oil futures settled flat on Monday as prices fell sharply from the day's high during the fag end of the session, with traders weighing global energy demand and supply positions.

Prices climbed higher early on in the session, and U.S. oil contract hit multi-year high, lifted by tight global supply and surging demand for oil in several countries across the world.

However, prices retreated later on in the session, and the most active crude futures contracts - West Texas Intermediate Crude for December - settled at $83.76 a barrel, Friday's closing price.

WTI Futures hit a high of $85.41 a barrel, a near 7-year high, earlier in the day.

Brent Crude futures climbed to a near three-year high, but pared gains later on in the session.

While supply is tight, energy demand is on the rise following removal of coronavirus restrictions in several countries.

Oil also found support as the OPEC+ alliance sticks to an existing pact for a gradual increase in oil output.

Last week's data from the U.S. Energy Information Administration (EIA) that showed a drop in crude oil inventories in the previous week, and inventories at the Cushing hub fell to their lowest level in three years continued to support crude prices.

Also, with several countries in Asia and Europe reportedly switching to diesel and fuel for power due to coal and gas shortages, the demand for oil has been rising of late.

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source http://www.mt5.com/forex_news/quickview/2184529/

Gold Futures Settle At 6-week High

Despite the dollar's recovery from a 1-month low, gold prices climbed higher on Monday, lifting the most active gold futures contract to their highest finish in nearly six weeks.

Weakness in U.S. Treasury yields contributed to dollar's uptick.

Gold futures for December ended up by $10.50 or about 0.6% at $1,806.80 an ounce, the highest settlement since September 14.

Silver futures for December settled higher by $0.143 at $24.592 an ounce, while Copper futures for December settled at $4.5280 per pound, gaining $0.0300.

Worries about inflation pushed up the demand for the safe-haven commodity.

Fed Chair Jerome Powell's comments on Friday that although the central bank will start tapering its bond-buying program this year, but "it is not yet time to begin raising interest rates," pushed the dollar to near one-month low earlier in the day.

Powell said at a virtual conference on Friday that the present high price pressure may not subside soon and that the central bank was on track to start tapering its stimulus.

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source http://www.mt5.com/forex_news/quickview/2184528/

Copper Price Rallies on Shrinking Chinese Inventories, Supply Chain Bottlenecks

Copper prices declined on lower than expected inventories in Shanghai warehouses on Monday as fears over a global supply shortage take center stage. Via DailyFX - Market News https://ift.tt/32vveVH

Why COP26 Matters for Markets

Against the backdrop of rising energy prices leading to economic fallout for economies in Asia, Europe, and North America, COP26 is set to begin on October 31. Via DailyFX - Market News https://ift.tt/32vveVH

*Turkey Oct Capacity Utilization 78.0% Vs. 78.1% In September

Turkey Oct Capacity Utilization 78.0% Vs. 78.1% In September

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source http://www.mt5.com/forex_news/quickview/2184501/

*Turkey Oct S.A Capacity Utilization 77.5% Vs. 77.8% In September

Turkey Oct S.A Capacity Utilization 77.5% Vs. 77.8% In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184500/

*Turkey Oct Manufacturing Confidence 109.6 Vs. 113.4 In September

Turkey Oct Manufacturing Confidence 109.6 Vs. 113.4 In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184499/

*Turkey Oct S.A Manufacturing Confidence 111.3 Vs. 113.3 In September

Turkey Oct S.A Manufacturing Confidence 111.3 Vs. 113.3 In September

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184498/

Finland Producer Price Inflation Accelerates In September

Finland's producer price inflation increased in September, data from Statistics Finland showed on Monday.

Producer prices increased 19.1 percent year-on-year in September, after a 15.5 percent rise in August.

The increase in the producer prices for manufactured products was particularly attributable to risen prices of oil products, basic metals and timber from September last year.

Import prices grew 18.6 percent annually in September and export prices rose by 20.9 percent.

On a month-on-month basis, producer prices rose 2.3 percent in September, following a 1.4 percent increase in the prior month.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184497/

Singapore Inflation Rises In September

Singapore consumer price inflation rises marginally in September, data published by the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Monday.

Consumer price inflation slowed to 2.5 percent in September from 2.4 percent in August. The rate came in line with economists' expectations.

This latest consumer prices outcome was largely due to a rise in prices for core inflation and accommodation cost.

MAS core inflation edged up to 1.2 percent in September from 1.1 percent in the previous month.

The increase in core rate was largely driven by higher food inflation.

For 2021 as a whole, MAS core inflation is expected to average 0-1 percent, while overall inflation is forecast to come in between 1-2 percent in 2022.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184496/

*Amended: Japan Aug Final Coincident Index 91.3 Vs. 94.4 In July

Amended: Japan Aug Final Coincident Index 91.3 Vs. 94.4 In July

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source http://www.mt5.com/forex_news/quickview/2184495/

DAX 40, S&P 500 Technical Forecasts: Bullish Momentum Builds

Strong earnings and upbeat market mood are helping global stocks regain bullish momentum Via DailyFX - Market News https://ift.tt/32vveVH

*Finland September Producer Prices Up 19.1% Y/Y, 2.3% M/M

Finland September Producer Prices Up 19.1% Y/Y, 2.3% M/M

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184494/

*Japan Aug Lagging Index 94.1 Vs. 95.2 In July

Japan Aug Lagging Index 94.1 Vs. 95.2 In July

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source http://www.mt5.com/forex_news/quickview/2184493/

Gold Price Rally May Have More to Go in The Short-Term

The short-term outlook for gold is looking more positive with last Friday's spike high coming under threat, but strong resistance nears. Via DailyFX - Market News https://ift.tt/32vveVH

*Japan Aug Coincident Index 101.3 Vs. 104.1 In July

Japan Aug Coincident Index 101.3 Vs. 104.1 In July

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184492/

*Japan Aug Leading Index 101.3 Vs. 104.1 In July

Japan Aug Leading Index 101.3 Vs. 104.1 In July

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source http://www.mt5.com/forex_news/quickview/2184491/

*Singapore Sep Inflation 2.5% Vs. 2.4% In Aug, Consensus 2.4%

Singapore Sep Inflation 2.5% Vs. 2.4% In Aug, Consensus 2.4%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184489/

*Singapore Sep Core Inflation 1.2% Vs. 1.1% In August

Singapore Sep Core Inflation 1.2% Vs. 1.1% In August

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source http://www.mt5.com/forex_news/quickview/2184490/

European Economics Preview: Germany Ifo Business Confidence Data Due

Business confidence survey data from Germany is due on Monday, headlining a light day for the European economic news.

At 3.00 AM ET, business confidence survey results are due from the Czech Statistical Office. Also, manufacturing sentiment survey data is due from Turkey.

At 4.00 am ET, ifo Institute is scheduled to issue Germany's business confidence survey data. Economists expect the business climate index to fall to 97.9 in October from 98.8 in September.

In the meantime, unemployment report is due from Poland. The jobless rate is seen falling to 5.7 percent in September from 5.8 percent in August.

At 6.00 am ET, Bundesbank is set to publish its monthly report.

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source http://www.mt5.com/forex_news/quickview/2184488/

US Dollar Price Action Set-Up: EUR/USD, GBP/USD, USD/CAD

USD challenging support. Euro gains curbed at former YTD. GBP eyes BoE Speech. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Jumps Up as US Dollar Weakens and Powell Alters Course. Can Oil Go Higher?

WTI and Brent crude oil both hit lofty levels today as inflation is acknowledged as being more persistent than previously thought. Will crude continue higher? Via DailyFX - Market News https://ift.tt/32vveVH

What is Earnings Season & What to Look for in Earnings Reports?

Earnings announcements are a key driver for stock prices: Learn the what and when of earnings. Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar Forecast: Turning Point Reached? USD/SGD, USD/THB, USD/IDR, USD/PHP

The US Dollar might be stabilizing against ASEAN currencies as inflationary woes resurface ahead of GDP and PCE data. Amazon, Apple and Facebook earnings may also drive sentiment ahead. Via DailyFX - Market News https://ift.tt/32vveVH

Weekly Fundamental Gold Price Forecast: Rising Inflation Expectations Buoy Bullion

Gold prices’ recent gains have come on the back of rising inflation expectations outpacing bond yields.

Markets Week Ahead: Nasdaq 100, Tech Earnings, Euro, ECB, Canadian Dollar, BoC, Yen, BoJ

Despite jitters on Friday, the Nasdaq 100, S&P 500 and Dow Jones finished higher last week. Highly-anticipated tech earnings are ahead, including those from Amazon and Apple. All eyes are on the EC...

Weekly Fundamental Gold Price Forecast: Rising Inflation Expectations Buoy Bullion

Gold prices’ recent gains have come on the back of rising inflation expectations outpacing bond yields. Via DailyFX - Market News https://ift.tt/32vveVH

Markets Week Ahead: Nasdaq 100, Tech Earnings, Euro, ECB, Canadian Dollar, BoC, Yen, BoJ

Despite jitters on Friday, the Nasdaq 100, S&P 500 and Dow Jones finished higher last week. Highly-anticipated tech earnings are ahead, including those from Amazon and Apple. All eyes are on the EC... Via DailyFX - Market News https://ift.tt/32vveVH

S&P 500 & FTSE 100 Forecasts for the Week Ahead

US equities back to record highs, but inflation concerns remain. FTSE eyeing EU-UK spat.

S&P 500 & FTSE 100 Forecasts for the Week Ahead

US equities back to record highs, but inflation concerns remain. FTSE eyeing EU-UK spat. Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar Outlook: USD, USD/JPY, EUR/USD Key Levels

USD faces headwinds as the combination of fundamental and technical levels push the dollar to key levels against major currency pairs

US Dollar Outlook: USD, USD/JPY, EUR/USD Key Levels

USD faces headwinds as the combination of fundamental and technical levels push the dollar to key levels against major currency pairs Via DailyFX - Market News https://ift.tt/32vveVH

Canadian Dollar Forecast: USD/CAD Drop Supported by Crude Oil, Will BoC Disappoint?

The Canadian Dollar remains supported amid elevated crude oil prices. Don't be surprised if the Bank of Canada disappoints aggressive hawkish expectations. Earnings season is a wildcard.

Canadian Dollar Forecast: USD/CAD Drop Supported by Crude Oil, Will BoC Disappoint?

The Canadian Dollar remains supported amid elevated crude oil prices. Don't be surprised if the Bank of Canada disappoints aggressive hawkish expectations. Earnings season is a wildcard. Via DailyFX - Market News https://ift.tt/32vveVH

Euro Forecast: ECB Meeting Will Aim to Keep EUR/USD Stable, All Settings Unchanged

The European Central Bank will consider it a job well done if there is no movement in EUR/USD or the Euro crosses before, during or after Thursday’s policy announcements by its Governing Council.

Euro Forecast: ECB Meeting Will Aim to Keep EUR/USD Stable, All Settings Unchanged

The European Central Bank will consider it a job well done if there is no movement in EUR/USD or the Euro crosses before, during or after Thursday’s policy announcements by its Governing Council. Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar Forecast: Greenback Vulnerable to Slowdown in US GDP

The update to the US GDP report may keep the Greenback under pressure as signs of a slowing recovery undermines speculation for an imminent shift in Fed policy.

US Dollar Forecast: Greenback Vulnerable to Slowdown in US GDP

The update to the US GDP report may keep the Greenback under pressure as signs of a slowing recovery undermines speculation for an imminent shift in Fed policy. Via DailyFX - Market News https://ift.tt/32vveVH

Bitcoin (BTC), Ethereum (ETH) Pare Recent Heavy Gains, Solana (SOL) Keeps on Rallying

The cryptocurrency market is ending the week on a mildly cautious note but the outlook remains positive.

Bitcoin (BTC), Ethereum (ETH) Pare Recent Heavy Gains, Solana (SOL) Keeps on Rallying

The cryptocurrency market is ending the week on a mildly cautious note but the outlook remains positive. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Turns Weak Against Major Rivals

The U.S. dollar exhibited weakness against most of its peers on Friday with traders reacting to a slew of economic data and weighing Fed Chairman Jerome Powell's comments about tapering of the central bank's bond buying program.

Federal Reserve Chairman Jerome Powell indicated he is now more concerned about higher inflation and said that the central bank would watch carefully for signs that households and businesses were expecting sustained price pressures to continue.

"Supply-side constraints have gotten worse," Mr. Powell said Friday at a virtual conference. "The risks are clearly now to longer and more-persistent bottlenecks, and thus to higher inflation."

The central bank will "need to make sure that our policy is positioned for a range of possible outcomes," he said. "I do think it is time to taper. I don't think it is time to raise rates," he added.

Elsewhere, Atlanta U.S Federal Reserve President Raphael Bostic said he expects high inflation to persist into 2022 and the central bank should raise interest rates by the end of next year.

The dollar index slid to 93.54 a little before noon, and despite recovering and briefly emerging above the flat line about an hour later, retreated again. It is hovering around 93.60, down nearly 0.2% from the previous close.

Against the Euro, the dollar weakened to 1.1642 from 1.1627. The flash euro zone composite output purchasing managers index (PMI) dropped to a six-month low of 54.3 in October from 56.2 in September, according to IHS Markit. The flash services PMI dropped to 54.7 from 56.4, also a six-month low.

The dollar firmed against Pound Sterling, gaining to 1.3758, rising about 0.25% from Thursday's close of 1.3794. The seasonally adjusted IHS Markit/CIPS U.K. manufacturing PMI unexpectedly improved to 57.7 in October versus 55.8 expected while the services PMI came in at 58.0 versus 54.5 expected.

The Yen strengthened to 113.48 a dollar, gaining from 114.00. The manufacturing sector in Japan continued to expand in October, and at a faster pace, the latest survey from Jibun Bank showed on Friday with a manufacturing PMI score of 53.0.

That's up from 51.5 in September, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Against the Aussie, the dollar is trading at 0.7466, little changed from the previous close of 0.7468. The manufacturing sector in Australia continued to expand in October, and at a faster pace, the latest survey from Markit Economics showed on Friday with a manufacturing PMI score of 57.3. That's up from 56.8 in September.

The Swiss franc has strengthened to 0.9163 a dollar from 0.9184, while the Loonie is slightly up against the dollar at C$1.2367.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184487/

Why COP26 Matters for Markets

Against the backdrop of rising energy prices leading to economic fallout for economies in Asia, Europe, and North America, COP26 is set to begin on October 31. Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Regain Ground Following Recent Weakness

After trending lower over the past several sessions, treasuries regained some ground during the trading day on Friday.

Bond prices fluctuated over the course the session but managed to close in positive territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.1 basis points to 1.655 percent.

The pullback by the ten-year yield came after it ended the previous session at its highest closing level in five months.

Treasuries may have benefited from bargain hunting following recent weakness, which came amid expectations the Federal Reserve may announce plans to begin scaling back bond purchases as early as next month.

Trading activity was somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.

Looking ahead, next week's trading may be impacted by reaction to reports on new home sales, consumer confidence, durable goods orders, and personal income and spending.

Bond traders are also likely to keep an eye on the results of the Treasury Department's auctions of two-year, five-year and seven-year notes.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2184486/