European data holds headlines
Tägliche Währungsaktualisierung
German inflation slowed more than expected in October as Europe’s biggest economy struggles to grow. Price pressures are the weakest since June 2021 (3%) which supports the European Central Bank's argument that the consecutive interest rate hikes are starting to show their effects. German GDP in the 3rd quarter was also down 0.1% on the previous quarter. Year-on-year data from Spain also showed inflation had fallen from 3.8% predicted to mirror the previous 3.5%. GBP/EUR traded within a tight range through yesterday between 1.1440 and 1.1480, sitting at the lower end of this range this morning. EUR/USD ticked higher, breaking back through 1.0600 and moving towards 1.0650 this morning. GBP/USD sits higher at 1.2160.Today we anticipate flash CPI data from Europe among other European locations giving their inflation latest – France and Italy. As we enter the afternoon, Canadian GDP month-on-month will be released alongside US employment cost and consumer confidence.
Wichtige Bewegungen
Chinese manufacturing and non-manufacturing both fell, data showed overnight denting hopes of a recovery in the world’s second-largest economy. Manufacturing PMI dipped below the 50-point level which shows contraction and non-manufacturing fell from the previous figure but remained above 50.00. However, data earlier this month showed GDP rose to 4.9%.Bank of Japan held interest rates but altered the rhetoric around its yield curve control policy. This would see a range of -1 and 1% as a reference cap. Being the first major central bank to announce this week, eyes will now turn to the US decision tomorrow.
Erwartete Bereiche
- GBP/USD: 1.2120 - 1.2250 ▲
- GBP/EUR: 1.1430 - 1.1480 ▼
- GBP/AUD: 1.9050 - 1.9190 ▲
- EUR/USD: 1.0580 - 1.0680 ▲