Mario Blascak, PhD
Independent Analyst
What you need to know before markets open
Main themes:
- The US mid-term elections weighed on the US Dollar that fell across the board.
- The US mortgage applications fell to an 18-year low as the mortgage rates hit 2010 highs.
- According to media reports, the UK emergency cabinet meeting to sign off Brexit divorce deal set to happen either tomorrow or Monday.
- China´s trade balance reached $34 billion in October, off record high in September with export still strongly up by 24.1%.
- The ECB President Mario Draghi delivers an introductory statement during his exchange of views with the House of Representatives in Dublin.
- Fed is expected to pave the way for the December rate hike at today´s meeting. For more details read Joseph's Preview here.
Europe
- German industrial production rose 0.2% over the month while rising 0.8% y/y in September.
- The Eurozone retail sales stagnated unchanged over the month while decelerating to 0.8% y/y. German export fell -0.8% y/y while import fell -0.4%y/y in September as trade balance remains in a surplus of €17.6 billion.
- German ruling CDU party is set to elect new party leader after Angela Merkel´s departure.
- The ECB President Mario Draghi delivers an introductory statement during his exchange of views with the House of Representatives in Dublin at 15:20 GMT.
UK
- The UK Halihaf house price index increased 0.7% m/m while decelerating to 1.5% y/y in October. The annual rate of house price growth has fallen to the lowest rate of annual growth since March 2013.
US
- The US weekly initial jobless claims are expected to reach 214K in the week ending November 2.
- The US Federal Reserve holds a monetary policy meeting paving the way for the December rate hike after a remarkable October labor market report that saw wages rising by the highest growth rate in a decade and 250K new jobs added. For more details read Joseph's Preview here.
New Zealand
- The RBNZkept the OCR at 1.75% releasing even more balanced outlook with rates moving possibly either side up or down.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD extends gains above 1.0700, focus on key US data
EUR/USD meets fresh demand and rises toward 1.0750 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price.
US Q1 GDP Preview: Economic growth set to remain firm in, albeit easing from Q4
The United States Gross Domestic Product (GDP) is seen expanding at an annualized rate of 2.5% in Q1. The current resilience of the US economy bolsters the case for a soft landing.