The euro (EUR) has been strengthening against most of its major counterparts; paring losses from Monday’s gap. European Central Bank (ECB) Governing Council member Knot said that each nation’s debt must to be reduced below the 60% limit and this should be enforced via national legislation. His remarks indicate that the ECB is in favour of widespread implementation of budget laws in eurozone countries’ constitutions. German Chancellor Merkel reiterated that Greece must apply reforms for the troika report to be concluded. Greek Prime Minister Samaras shared his, confident, view that Greece will receive the next financial aid tranche.
§ The Australian dollar (AUD) is rising versus most of its counterparts, following the release of the minutes from Reserve Bank of Australia (RBA) latest meeting, that pointed out interest rates are set to drop as the nation’s central Bank warned a deceleration in the crucial mining industry has lowered the outlook for growth in the coming year.
§ Silver (XAG) dropped versus the US dollar (USD) from 33.1271 to 32.6834 an ounce.
§ OIL rose versus the US dollar (USD) from 91.05 to 91.70, having first recorded a low at 89.78.
Stay in tune throughout the day with foreign exchange bullets!
|.||EURUSD||1.2915||LONG @ 1.2925||41% of deals buy EUR|
|.||USDJPY||78.60||LONG @ 78.65||70% of deals buy USD|
|.||GBPUSD||1.6040||LONG @ 1.6050||40% of deals buy GBP|
|.||AUDUSD||1.0235||LONG @ 1.0235||63% of deals buy AUD|
|.||GOLD||1741||SHORT @ 1741||57% of deals buy GOLD|
|.||OIL||90.80||LONG @ 90.80||67% of deals buy OIL|
|.||GBP||08:30||Consumer Price Index (CPI) m/m in September||0.4%|
|.||EUR||09:00||Consumer Price Index (CPI) Final m/m in September||0.8%|
|.||EUR||09:00||ZEW Economic Sentiment for October||-15|
The US dollar (USD) fulfilled our rebound expectations versus the South African rand (ZAR) off the 8.6000 support level, as identified on Friday. The trend is still bullish but needs a break-and-hold above the 8.9000 mark for higher highs to be recorded.
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