The last night in terms of publication of macroeconomic data passed rather quietly. The only publications that we met were readings of real estate prices in China (YoY) for September, which rose from 9.2% to 11.2%, and expenditure by credit cards in New Zealand which also increased from 2% to 8 2%. But it was not information having a greater impact on the market situation.

The rest of Friday seems to be as calm as last night although it is worth noting data from Canada, where we will know the consumer inflation for September and basic retail sales for August.

The situation on the charts

Despite the lack of relevant publications EURUSD currency pair slipped out at night by more than -0.20% continuing yesterday’s decline caused by President of the European Central Bank, Mario Draghi speech:

eurusd-1

AUDUSD since the beginning of the day moves quietly up creating an upward correction after yesterday’s very dynamic drops, which defeated both the growth trend line as well as three in a row local levels of support. We are seeing the struggle of bears and bulls although it seems that in accordance with the principle of changing polarity correction could reach at least in the area of local support 0.7657 coinciding with the level of 70.7% Fibonacci correction of the last bearish impulse.

audusd-1

What are we waiting for?

  • 11:00 – Speech by the head of the Bundesbank (Jens Weidmann)
  • 14:30 – series of data from Canada among which will include consumer inflation for September and basic retail sales for August.
  • 18:00 – meeting of EU leaders
  • 21:30 – series of publications related to speculative positions on GBP, copper, oil, gold, S&P, silver, CAD, MXN, CHF, AUD, JPY, NZD, EUR.

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