Eurozone broad money supply rose at a faster pace and private sector credit logged a stable growth in September, data from the European Central Bank showed Thursday.
The broad monetary aggregate M3 climbed 5.1 percent year-on-year, slightly faster than the 5 percent increase seen in August. M3 was forecast to grow again by 5 percent in September.
The annual growth rate of credit to the private sector came in at 2.8 percent in September, the same as in August.
At the same time, adjusted loans to the private sector grew 2.7 percent after rising 2.6 percent.
In particular, loans to households rose at a steady pace of 2.7 percent in September, while the growth in loans to non-financial corporations improved to 2.5 percent from 2.4 percent in August.Read More →

Hong Kong's foreign trade gap widened in September from a year ago, as imports grew faster than exports, data from the Census and Statistics Department showed Thursday.
The visible trade deficit rose to HK$44.7 billion in September from HK$39.7 billion in the corresponding month last year. The deficit increased from HK$35.5 billion in August.
Economists had expected a shortfall of HK$38.5 billion for September.
Exports grew 9.4 percent year-over-year in September, faster than the 5.9 percent rise economists had forecast.
Similarly, imports advanced 9.7 percent in September from last year, much faster than the expected increase of 5.0 percent.
“Looking ahead, the global economic upturn is expected to continue to render support to Hong Kong's exports in the near term,” a government spokesman said.
“However, external uncertainties persist, including the uncertain pace of US monetary policy normalisation and possible policy actions by other major central banks.”
“Besides,..Read More →

Spain's unemployment rate dropped to a near nine-year low in the third quarter, the statistical office INE said Thursday.
The jobless rate fell to 16.38 percent from 17.22 percent in the second quarter. In the same period of 2016, the unemployment rate was 18.9 percent.
This was the lowest rate since the fourth quarter of 2008 and also below the expected level of 16.6 percent.
The number of unemployed declined by 182,600 to 3.73 million in the third quarter.
Data showed that employment increased by 301,700 in the service sector and by 139,400 in industry. In construction, 47,400 jobs were created.Read More →

Here's the latest on other key pairs 26 OctNote: Offers = Sellers at these levels. Bids = Buyers at these levels.

These orders, and the others I post, are generally good until filled/ level breached.

USDCHF: 0.9901 underpinned. Watch out for EURCHF-led impact during ECB
Offers : 0.9930 0.9950 0.9980 1.0000 1.0030 1.0050
Bids: 0.9875-80 0.9850 0.9830 0.9800 0.9785 0.9750

EURCHF: 1.1693 after failing at 1.1700 but underpinned still into the ECB
Offers: 1.17201.1760 1.1780 1.1800
Bids: 1.1680 1.1650 1.1630 1.1600 1.1550 1.1500

USDCAD: 1.2802 tightly bound after the pre/post-BOC fun n games
Offers: 1.2820 1.2850 1.2870 1.2885 1.2900
Bids: 1.2780 1.2760 1.2720 1.2700 1.2650

NZDUSD: 0.6873 just off session lows and still under pressure
Offers: 0.6900 0.6920 0.6960 0.6980 0.7000
Bids: 0.6865 0.6850 0.6800 0.6785 0.6750Read More →

Trade Idea: AUD/USD – Target met and stand aside AUD/USD – 0.7703
Original strategy:
Sold at 0.7875, met target at 0.7700
Position: – Short at 0.7875
Target: – 0.7700
Stop:-
New strategy :
Stand aside
Position: –
Target: –
Stop:-
Yesterday’s selloff together with the breach of previous support at 0.7733 confirms recent decline from 0.8125 top has resumed and our short position entered at 0.7875 met downside target at 0.7700 (with 175 points profit), although this anticipated decline adds credence to our bearish view and further weakness to 0.7650 is likely, near term loss of downward momentum should prevent sharp fall below 0.7600 and reckon 0.7550 would hold from here, bring rebound later.
As we have taken profit on our short position entered at 0.7875, would not chase this fall here and would be prudent to stand aside for now. Above 0.7750 would bring recovery to 0.7770 but only break of latter level would suggest a temporary low is possibly formed instead, risk ..Read More →

Trade Idea: EUR/JPY – Hold long entered at 133.20 EUR/JPY – 134.23
Original strategy:
Bought at 133.20, Target: 135.20, Stop: 133.10
Position: – Long at 133.20
Target: – 135.20
Stop: – 133.10
New strategy :
Hold long entered at 133.20, Target: 135.20, Stop: 133.50
Position: – Long at 133.20
Target: – 135.20
Stop:- 133.50
As the single currency found renewed buying interest at 133.10 and has surged again, retaining our bullishness for rent upmove to resume and upside bias remains for further gain to 135.00-10, however, near term overbought condition should limit upside to 135.50-60 and reckon 136.00-10 would hold from here, bring retreat later.
In view of this, we are holding on to our long position entered at 133.20. Only below said support at 133.10 would defer an risk correction to 132.70-75, then test of indicated support at 132.47, break there would signal top is formed instead, risk correction to 132.00 first but strong support at 131.66 should remain intact.
Our..Read More →

Trade Idea: GBP/JPY – Hold long entered at 149.50 GBP/JPY – 149.40
Original strategy:
Bought at 149.50, Target: 151.50, Stop: 148.90
Position: – Long at 149.50
Target: – 151.50
Stop: – 148.90
New strategy :
Hold long entered at 149.50, Target: 151.50, Stop: 149.70
Position: – Long at 149.50
Target: – 151.50
Stop:- 149.70

Sterling only rose to 151.40 (just missed our upside target at 151.50) before treating again, suggesting consolidation below said resistance would be seen, however, as long as 149.75-80 holds, bullishness remains for another rise, break of resistance area at 1.5140-60 would add credence to our view that correction from 152.85 has ended, bring further rise to 152.00 and later towards said recent high.
In view of this, we are holding on to our long position entered at 149.50. Below 149.75-80 would suggest top is possibly formed but only break of 149.10-15 would add credence to this view and suggest the rebound from 146.95 has ended instead, risk weaknes..Read More →