Germany Nov GFK consumer confidence survey now out 26 Oct10.8 prevThe Gfk German Consumer Climate Index measures the level of consumer confidence in economic activity. The data is compiled from a survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions.
Not usually price changing data and not today with ECB the far bigger focus.
Say GFK:second straight declineconsumer mood in first survey since German federal elections not sending clear signals.both economic expectations and propensity to buy on the riseincome expectations fell for the second time in a row.Read More →

US: New home sales rebound implies hurricane recovery boost – Nomura US new home sales jumped strongly by 18.9% m-o-m to an annual rate of 667k in September, well above expectations (Nomura: -0.9% to 555k, Consensus: -1.1% to 554k) while sales in August and July were revised up modestly, notes the research team at Nomura.
Key Quotes
“Among the four regions, the South showed a sharp 25.8% m-o-m increase, while sales excluding the South also rose strongly by 9.6% m-o-m. New home sales, which track new sales contracts signed on new homes, tend to be volatile. It appears that sales activity picked up in the South as many consumers in the hurricane-affected areas (e.g., the Greater Houston area and a large part of Florida) are seeking replacement housing. This acceleration suggests that the recovery is well underway in these regions. In the previous cases of major hurricanes, new home sales showed a tendency to drop in the landfall month but subsequently rebound.”
“Reflecting a sharp inc..Read More →

GBP/USD: Another test of the resistance at 1.3235 in sore – Natixis Micaella Feldstein, Research Analyst at Natixis suggests that since the daily volatility has reduced and as the daily stochastic of GBP/USD pair has picked up, they favor another test of the resistance at 1.3235 (daily Bollinger moving average).
Key Quotes
“Only a break of this threshold would lessen the risks of a dip back to important supports located at 1.3060-1.3074 (daily parabolic), signaling a larger rally to 1.3415 (daily Bollinger upper band) even to the 1.3539 barrier (weekly Bollinger upper band). The supports stand at 1.3060-1.3074, at .1.29801.30, at 1.2842-1.2865 and at 1.2650.”Read More →

EUR/USD heading towards 1.1850 ahead of ECB verdict Supported by weaker Treasury yields and US dollar. All eyes on ECB QE program taper announcement. Sell the rallies post-ECB outcome? After a brief phase of upside consolidation seen over the last hours, the EUR/USD pair is now breaking into fresh highs above 1.1830, in a bid to regain 50-DMA located at 1.1852 levels ahead of the highly anticipated ECB policy decision due later today.
Maintain an EUR bullish bias post-ECB – Nomura
The spot is on a steady rise from 1.1800 levels since the Asian trades this Thursday, tracking the USD price-action closely, as the greenback dips further into losses against its major peers amid tumbling US rates and renewed uncertainty over the next Fed Chair, after Politico reported that Trump is not ready to announce the next Fed Chair this week.
On the other hand, the EUR/USD pair continues to remain underpinned by the bullish sentiment around the Euro, as markets widely expect the ECB to announce a r..Read More →