Published at 00:58 (GMT) 15 Oct
President Barack Obama will hold video conference with UK, French, German, Italian leaders on Wed on Ebola epidemic, Islamic State and Russian actions in Ukraine. - White House - Reuters.
On FX, some focus on the above talks - and any development from there. GBP/USD under pressure after the soft UK CPI of 1.2%y/y in Sep vs 1.4% expectation. Effectively pushing back expectations of earlier BoE Rate hikes. GBP/USD extended losses earlier, to fresh 11-month lows of 1.5883. Lowest level since Nov 13 2013 1.5876. Eye break of 1.5875/1.5850 next. As GBP down sharply from 1.6050-55 before the data.
EUR/USD under pressure as well on soft German ZEW. Putting more pressure on ECB/Buba Jens Weidmann to agree with some ECB measures proposed by ECB Pres Mario Draghi. EUR/USD at 1.2638-40, down from 1.27 handle on Tuesday. Offers at 1.2650/1.2700 again. Eye break 1.2600 again for 1.25 handle. WL
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.