Today’s was another quiet London session day with no tier one datas, and in NY sessions we had USD Prelim GDP q/q which came out slightly negative but the annual rate is now at 3.2% instead of the previously reported 2.9%. The consumer confident was also a beat.
Later in Asian session we’ll have RBNZ gov Wheeler speaks but the financial stability report has already came out today. It stated the high risk in housing market, as usual.
The market is still largely played by the sentiment, especially the updates from OPEC members as the meeting is tomorrow.
WTI had a huge drop today because OPEC members still have hard times to reach agreement - as expected.
Saudi has spoken that if Iran and Iraq are not going to curb the oil output, there will be no deal.
Equity markets were still green and we’re still in a general risk on sentiment.
ECB is ready to buy more Italy bond if the referendum divers up interest rates.
Another FED comments on rate hike in next meeting.
EUR - fundamentally bearish, sentimentally bearish, risks are month end EURO inflow, the ECB bond buying decision, Italy Referendums and 2 major elections next year
USD - fundamentally bullish, sentimentally bullish, risks are OPEC oil curb which will raise oil price and pressure USD, Dec rate decision might be a surprise
CAD - fundamentally bearish, sentimentally bearish, risks are the OPEC meeting result on Wed
GBP - fundamentally bearish, sentimentally bullish, risks are Brexit talks updates
CHF - fundamentally bearish, sentimentally bearish, risks are sentiment shifts for safe heaven currency
JPY - fundamentally bearish, sentimentally bearish, risks are sentiment shifts for safe heaven currency
AUD - fundamentally bullish, sentimentally bullish, risks are sentiment shifts, central banks speaks and commodity futures speculations, datas from Australia and China
NZD - fundamentally neutral, sentimentally bullish, risks are sentiment shifts, central banks speaks, housing markets, datas from New Zealand an China