Market Roundup
•Sweden Sep Services PMI (MoM) 54.7, 56.6 previous
•Spanish Sep Services PMI 42.4, 46.3 forecast, 47.7 previous
•Italian Sep Services PMI 48.8, 46.6 forecast, 47.1 previous
•Italian Sep Composite PMI 50.4, 49.5 previous
•French Sep Markit Composite PMI 48.5, 48.5 forecast, 51.6 previous
•French Sep Services PMI 47.5, 47.5 forecast, 51.5 previous
•German Sep Services PMI 50.6, 49.1 forecast, 52.5 previous
•German Sep Composite PMI 54.7, 53.7 forecast, 54.4 previous
•German Sep Markit Composite PMI 50.4, 53.7 forecast, 54.4 previous
• EU Sep Markit Composite PMI 50.4, 50.1 forecast, 51.9 previous
•EU Sep Services PMI 48.0, 47.6 forecast, 50.5 previous
•UK Sep Services PMI 56.1, 55.1 forecast, 58.8 previous
•UK Sep Composite PMI 56.5, 55.7 forecast, 59.1 previous
•EU Oct Sentix Investor Confidence -8.3, -9.5 forecast, -8.0 previous
•EU Oct Retail Sales (MoM) 4.4%,2.4% forecast, -1.3% previous
•EU Aug Retail Sales (YoY) 3.7%,2.2% forecast, 0.4% previous
Looking Ahead –Economic data( GMT)
•13:45 US Sep Markit Composite PMI 54.4 forecast, 54.6 previous
•13:45 US Sep Services PMI 54.6 previous, 54.6 previous
•14:00 US Sep ISM Non-Manufacturing Business Activity 61.0 forecast, 62.4 previous
•14:00 US Sep ISM Non-Manufacturing PMI 56.3 forecast, 56.9 previous
•14:00 US Sep ISM Non-Manufacturing Employment 47.9 previous
•14:00 US Sep ISM Non-Manufacturing New Orders 56.8 previous
•14:00 US CB Employment Trends Index 52.55 previous
Looking Ahead - Events, Other Releases (GMT)
•14:00 US FOMC Member Barkin Speaks
•14:00 US Chicago Fed President Evans Speaks
Fxbeat
EUR/USD: The euro gained on Monday as weaker dollar offset uncertainty over U.S. President Donald Trump's health. Trump could be discharged from hospital as soon as Monday, according to his doctors, although his condition remains unclear and outside experts warn his case may be severe. Sentiment appeared to be improving on Monday, after better-than-expected business activity readings from the euro zone.But spiking coronavirus cases in parts of the bloc have raised concerns over a fresh batch of lockdowns. Immediate resistance can be seen at 1.1785 (Daily high), an upside break can trigger rise towards 1.1800 (50%fib).On the downside, immediate support is seen at 1.1740 (5DMA ), a break below could take the pair towards 1.1711 (38.2% fib).
GBP/USD: Sterling strengthened against dollar on Monday as investor’s awaited news on Brexit trade deal. British Prime Minister Boris Johnson and the head of the EU’s executive, Ursula von der Leyen, agreed in a phone call on Saturday to step up Brexit talks to close “significant gaps” barring a new trade partnership. Both sides said they have made some progress but not achieved yielded a breakthrough. Johnson does not want the Brexit transition to end without a new trade deal in place, he said on Sunday, but he believes Britain could live with such an outcome. The pound was last trading up 0.1% versus the dollar at $1.2942 .Immediate resistance can be seen at 1.3008 (50%fib), an upside break can trigger rise towards 1.3056 (Higher BB).On the downside, immediate support is seen at 1.2914 (5DMA), a break below could take the pair towards 1.2873 (38.2%fib).
USD/CHF: The dollar dipped against Swiss franc on Monday as investors switched to safe-haven Swiss franc as market awaited news on the health of U.S. President Donald Trump, who last week tested positive for the coronavirus . Trump was flown to hospital for treatment for the coronavirus on Friday, just weeks before the Nov. 3 election, adding another layer of uncertainty and market volatility. The president’s medical team on Sunday said his condition was improving and that he could be discharged from hospital as soon as Monday. The greenback edged lower against the Swiss franc, fetching 0.9150, near a one-week low of 0.9137 it marked on Wednesday. Immediate resistance can be seen at 0.9199 (50%fib), an upside break can trigger rise towards 0.9211 (11DMA).On the downside, immediate support is seen at 0.9149 (38.2% fib), a break below could take the pair towards 0.9090 (23.6% fib).
USD/JPY: The dollar ticked up against the Japanese yen on Monday as financial markets waited for news about U.S. President Donald Trump’s health and developments in fiscal aid talks in Washington. Trump said on Friday he had tested positive for COVID-19, triggering concern in the market as the news added an extra layer of uncertainty to the Nov. 3 presidential elections. The dollar rose 0.3% against the yen to 105.66 at 1042 GMT. Dollar-yen saw its sharpest fall in more than a month on Friday. Strong resistance can be seen at 105.68 (38.2% fib), an upside break can trigger rise towards 106.00 (Psychological level).On the downside, immediate support is seen at 105.57 ( 5DMA ), a break below could take the pair towards 104.65 (23.6%fib).
Equities Recap
European stocks gained on Monday, lifted by dealmaking activity and an upbeat global mood following positive updates of U.S. President Donald Trump’s health.
At (GMT 13:00 ),UK's benchmark FTSE 100 was last trading up at 0.63 percent, Germany's Dax was up by 0.87 percent, France’s CAC was last up by 0.85 percent.
Commodities Recap
Gold inched up on Monday as the dollar weakened, although gains were limited as news that U.S. President Donald Trump, receiving treatment for COVID-19, could be released from hospital boosted risk sentiment.
Spot gold was up 0.1% at $1,900.46 per ounce by 0954 GMT. U.S. gold futures were down 0.2% at $1,904.50.
Oil prices rose on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive coronavirus test sparked widespread alarm.
Brent was up $1.47, or 3.7%, to $40.74 a barrel by 1100 GMT. U.S. West Texas Intermediate (WTI) crude was $1.56, or 4.2%, higher at $38.61 a barrel.
