Today, market witnesses a set of fundamentals coming from the Euro Zone and UK, unlike yesterday analysts experienced lack of fundamentals in which all eyes turned to the American market as majors slightly gained against the US dollar due to pure technical movements. Today, the Euro settles around 1.4200 levels whereas the GBP reached to 2.0390 levels while the Yen traded around 117.40s
The Euro is trading between narrow ranges with no clear direction recording a high of 1.4242 and a low of 1.4160. A set of fundamentals are expected today from the Euro Zone as Germany released the Consumer price Index for the month of September showing a 0.1% rise higher than the previous fall of 0.1% yet lower than the expected rise of 0.2%. As for the yearly reading, analysts expected a rise of 2.5% and though the actual reading was higher than that of the previous month coming at 1.9%, it was still slightly lower than expected showing a reading of 2.4%. Germany also released the Harmonized index for consumer prices for the month of September showing a reading of 0.2% as expected rising higher than the previous fall of 0.1%. The yearly reading showed a rise of 2.7 higher than the previous rise of 2% as expected. Coming up also from Germany is the ZEW Current Situation for the month of October where analysts expect a reading of 70 less than the previous reading of 74.4 whereas the Zew Survey Economic Sentiment, analysts expect a further fall of 22.3 lower than the previous fall of 18.1. The Euro Zone is releasing later today the CPI for the month pf September showing an expected rise of 0.4 higher than the previous rise of 0.1%. As for the yearly reading, analysts expect no change from the previous reading coming at 2.1%. As for the Euro Zone Core CPI the yearly reading expected to show a rise of 1.9% indicating no change as expected.
The GBP is slightly declining against the US dollar recording a high of 2.0433 and a low of 2.0386. A set of Fundamentals are coming out today from the UK economy as markets awaits for the UK's CPI for the month of September showing a rise of 0.2% lower than the previous rise of 0.4%. As for the yearly reading, analysts expect a rise of 1.9% higher than the previous rise of 1.8%. The yearly Core CPI shows an expected rise of 1.8 inline with the previous reading. The UK is also releasing the Retail Price Index for the month of September where analysts expect a rise of 0.4% lower than the previous rise of 0.6%. As for the yearly reading, analysts expect a rise of 4% lower than the previous rise of 4.1%
The Yen is inclining against majors as Unwinding of Carry Trades takes places forcing the USD/JPY pair to record a high of 117.44 and a low 116.44
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