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ارتفاع الجنيه الإسترليني مع اقتراب نهاية الشهر

ارتفع الجنيه الإسترليني خلال جلسة تداولات الثلاثاء حتى مع تحضر الأسواق لقرار بنك إنجلترا المركزي برفع معدلات الفائدة لاحقاً هذا الأسبوع.

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Loonie Falls After Canada GDP Data

Following the release of Canada GDP for August at 8:30 am ET Tuesday, the loonie fell against its major rivals.

The loonie was trading at 1.5008 against the euro, 0.9876 against the aussie, 1.2897 against the greenback and 87.90 against the yen around 8:34 am ET.

The material has been provided by InstaForex Company – www.instaforex.com

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Eurozone Q3 GDP Growth Exceeds Expectations

The euro area economy expanded at a faster than expected pace in the third quarter and the unemployment rate fell to a more than eight-year low, while inflation slowed unexpectedly, official data revealed Tuesday.

Gross domestic product climbed 0.6 percent quarter-on-quarter, but the rate was slightly slower than the revised 0.7 percent expansion seen in the second quarter, preliminary flash estimate published by Eurostat showed.

Economists had forecast the sequential growth rate to ease to 0.5 percent from the second quarter’s initial estimate of 0.6 percent.

On a yearly basis, the currency bloc grew 2.5 percent, which was faster than the 2.3 percent rise logged in the second quarter and the expected rate of 2.4 percent.

Eurostat releases flash GDP estimates on November 14.

While the expenditure breakdown has not yet been released, domestic demand has most likely been an important contributor to growth again, given labor market strength and improving investment conditions such as higher capacity utilization and improved lending demand and conditions, Bert Colijn, an ING economist, said.

Preliminary estimate released so far by member nations showed that France’s growth slowed marginally to 0.5 percent from 0.6 percent in the second quarter. Likewise, Spain’s GDP grew 0.8 percent, slower than the 0.9 percent expansion seen in the second quarter.

The EU28 also grew 0.6 percent sequentially and by 2.5 percent from previous year in the third quarter.

According to preliminary estimate, Eurozone inflation slowed to 1.4 percent in October, while the rate was forecast to remain unchanged at 1.5 percent.

Core inflation that excludes energy, food, alcohol and tobacco, moderated to 0.9 percent from 1.1 percent in the preceding month. The expected rate was 1.1 percent.

The annual fall in inflation was largely driven by a slowdown in energy price growth, to 3 percent from 3.9 percent. Services cost grew 1.2 percent after rising 1.5 percent. Meanwhile, cost of food, alcohol and tobacco, climbed 2.4 percent, faster than the 1.9 percent increase in September.

October’s CPI data will have reinforced the European Central Bank’s judgement that its inflation goal is not yet in sight, Jennifer McKeown, an economist at Capital Economics, said.

In a separate communique, Eurostat said the unemployment rate reached its lowest level since January 2009. The jobless rate fell to 8.9 percent in September from revised 9 percent in August.

The number of unemployed decreased by 96,000 from the previous month to 14.513 million.

The youth unemployment rate came in at 18.7 percent in September, down from 18.8 percent in August.

The material has been provided by InstaForex Company – www.instaforex.com

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Loonie Mixed Ahead Of Canada GDP Data

Statistics Canada releases Canada GDP data for August and industrial product price index for September at 8:30 am ET Tuesday. The economy is forecast to expand 0.1 percent on month, from a break-even in the previous month.

Ahead of the data, the loonie traded mixed against its major rivals. While the loonie fell against the euro, the aussie and the yen, it held steady against the greenback.

The loonie was worth 1.4953 against the euro, 0.9841 against the aussie, 1.2843 against the greenback and 88.22 against the yen as of 8:25 am ET.

The material has been provided by InstaForex Company – www.instaforex.com

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Crude Oil Holds $54 Ahead Of U.S. Inventories

Crude oil futures were little changed Tuesday morning ahead of U.S. inventories data.

The American Petroleum Institute is out with its industry survey this afternoon, followed by official numbers from the Energy Information Administration tomorrow morning.

The reports showed a surprise build in domestic stockpiles a week ago, but oil prices have since risen on speculation OPEC will extend its supply quota deal with Russia. The cartel meets in Vienna November 30.

Meanwhile, U.S. WTI crude oil was down a few cents at $54.12 a barrel, having touched its highest since February. Brent oil has rocketed above $60 in London.

The S&P Corelogic Case-Shiller home price index for August that tracks monthly changes in the value of residential real estate in 20 metropolitan regions across the U.S. will be revealed at 9.00 am ET. The consensus is for growth of 0.5 percent, compared to 0.3 percent in the previous month.

The material has been provided by InstaForex Company – www.instaforex.com

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Global macro overview for 31/10/2017

Global macro overview for 31/10/2017:

The recent weeks have left investors sharply negative about the US Dollar. Just two months ago, the market discussed d the low probability of tax cut approval and a rate hike in December. Today, both scenarios are baseline, which, together with the fears of a US-North Korean conflict and strong rises in energy and industrial commodities prices of nearly 50 bps, have pushed the US ten-year bonds higher. The room for further strengthening of the US Dollar is still big. Especially, if the global investors consider that the market in less than 50% discount the interest rate hikes suggested in the Fed projections for 2018. At the same time, the process of reduction of the balance sheet total and the impact of increasing the debt limit on the absorption of excess liquidity in the financial sector are not sufficiently taken into account.

On the other hand, the successor to Yellen seems to be settled. It is almost certain it will be Jerome Powell. However, this is not a threat to the USD, since such a choice has already been priced in. It is worth noting, however, that the FOMC decision-making board will change slightly towards “hawkish” point of view if Taylor or Warsh will make it to the Board of Governors.

Let’s now take a look at the US Dollar Index technical picture on the H4 time frame. The sequence of higher highs and higher lows continues. There is only one technical support left to be tested in order to continue the local uptrend and it is at the level of 94.26. Only a sustained breakout below the golden trend-line support would change the bias to bearish again.

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The material has been provided by InstaForex Company – www.instaforex.com

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South Africa's Jobless Rate Steady In Q3

South Africa’s unemployment rate held steady in the three months ended September, figures from Statistics South Africa showed Tuesday.

The jobless rate came in at 27.7 percent in the third quarter, the same rate as in the second quarter.

In the corresponding period last year, the rate was 27.1 percent.

The number of unemployed people rose to 6.21 million in the September quarter from 6.18 million in the previous quarter. A year ago, the jobless figure totaled 5.87 million.

The labor force participation rate also remained unchanged at 59.9 percent in the third quarter.

The material has been provided by InstaForex Company – www.instaforex.com

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