•Sweden Oct Unemployment Rate 6.6% ,6.6% previous
•Finnish Sep GDP (YoY) 1.6%, 0.8% previous
•German Oct WPI (MoM) -0.6% ,1.2% forecast, 1.6% previous
•Sweden Oct CPI (MoM) 0.2%,0.4% forecast, 1.4% previous
•UK Sep Employment Change 3M/3M (MoM) -52K,-25K forecast, -109K previous
•UK Sep Average Earnings Index +Bonus 6.0%, 5.9% forecast, 6.0% previous
•UK Sep Unemployment Rate 3.6%, 3.5% forecast, 3.5% previous
•UK Oct Claimant Count Change 3.3K, 17.3K forecast, 25.5K previous
•French Oct CPI (MoM) 1.0%,1.0% forecast, -0.6% previous
•French Oct HICP (MoM) 1.2%, 1.3% forecast, -0.5% previous
•Spanish Oct HICP (YoY) 7.3%, 7.3% forecast, 9.0% previous
• EU GDP (QoQ) (Q3) 0.2%, 0.2% forecast,0.8% previous
• EU Sep Trade Balance -34.4B, -44.5B forecast, -50.9B previous
• EU GDP (YoY) (Q3)2.1%, 2.1% forecast,4.3% previous
• EU Nov ZEW Economic Sentiment -38.7, -52.0 forecast,-59.7 previous
• German Nov ZEW Economic Sentiment -36.7, -50.0 forecast, -59.2 previous
Looking Ahead - Economic Data (GMT )
•13:30 US Oct PPI (MoM) 0.4% forecast, 0.4% previous
•13:30 Canada Sep Wholesale Sales (MoM) -0.2% forecast, 1.4% previous
•13:30 US Oct Core PPI (MoM) 0.3% forecast, 0.3% previous
•13:30 US Nov NY Empire State Manufacturing Index -5.00 forecast, -9.10 previous
•13:30 Canada Sep Manufacturing Sales (MoM) -0.5% forecast, -2.0% previous
•13:30 Canada New Motor Vehicle Sales (MoM) 136.0% previous
•13:55 US Redbook (YoY) 7.6% previous
Looking Ahead - Events, Other Releases (GMT)
•14:00 US Fed Governor Cook Speak
•14:00 EU German Buba Vice President Buch Speaks
•14:00 EU German Buba Balz Speaks
•15:00 New Zealand GlobalDairyTrade Price Index
•15:00 US Fed Vice Chair for Supervision Barr Speaks
•17:30 EU ECB's Elderson Speaks
Fxbeat
EUR/USD: The euro rose against dollar on Tuesday as upbeat euro zone job figures, GDP and German economic sentiment data boosted euro. German investor sentiment improved more than expected in November.The ZEW economic research institute said on Tuesday its economic sentiment index rose for the second month in a row in November, to -36.7 from -59.2 the month before. Euro zone gross domestic product grew by 0.2% quarter-on-quarter in the July-September period for a 2.1% year-on-year increase. Eurostat said employment in the 19 countries sharing the euro also increased by 0.2% quarter-on-quarter in the third quarter for a 1.7% year-on-year rise. Immediate resistance can be seen at 1.0434(23.6%fib), an upside break can trigger rise towards 1.0500(Psychological level).On the downside, immediate support is seen at 1.0311 (38.2%fib), a break below could take the pair towards 1.0261(5DMA).
GBP/USD: The pound rose to its highest in almost three months against the U.S. dollar on Tuesday ahead of the UK government’s budget this week, largely as the greenback came under fire. Newly appointed UK finance minister Jeremy Hunt will deliver his autumn budget on Thursday, which is expected to contain a raft of measures, including tax rises and spending cuts, aimed at closing a 50-billion pound ($59 billion) gap in Britain’s finances. The pound was last up 1% against the dollar at $1.18785, while against the euro it was up 0.1% at 87.74 pence. Immediate resistance can be seen at 1.1901 (23.6%fib), an upside break can trigger rise towards 1.1970 (Higher BB).On the downside, immediate support is seen at 1.1738(5DMA), a break below could take the pair towards 1.1650(38.2%fib).
USD/CHF: The dollar declined against the Swiss franc on Tuesday as the greenback fell after U.S. Federal Reserve officials signalled a slower pace of interest rate hikes.. Fed Vice Chair Lael Brainard on Monday echoed comments by Fed Governor Christopher Waller that interest rates needed to keep rising to battle inflation, but potentially at a slower pace. Investors awaited U.S. producer price index (PPI) figures due out later on Tuesday as well as a speech from Philadelphia Fed President Patrick Harker. Analysts cautioned that a strong PPI reading could sour the mood in still-fragile markets.Immediate resistance can be seen at 0.9458(Daily high), an upside break can trigger rise towards 0.9497(38.2%fib).On the downside, immediate support is seen at 0.9391 (23.6%fib), a break below could take the pair towards 0.9348 (lower BB).
USD/JPY: The dollar declined against the yen on Tuesday amid hopes that the Federal Reserve would adopt a less aggressive approach on rate hikes going forward. The Fed will likely soon slow its interest rate hikes, Fed Vice Chair Lael Brainard signalled on Monday while emphasising the central bank still had more work to do.Traders now see an 89% probability of a 50-basis-point increase at the U.S. central bank’s December meeting, with only an 11% likelihood of a 75-basis-point rise. The dollar was last down 0.46% against Japan's yen to 139.26, just above Thursday's three-month low. Strong resistance can be seen at 140.65(38.2%fib), an upside break can trigger rise towards 141.01(5DMA).On the downside, immediate support is seen at 138.58(50%fib), a break below could take the pair towards 137.82(Lower BB).
Equities Recap
European shares were nearly flat on Tuesday as a sharp decline in British telecom group Vodafone, after it slashed its full-year forecasts, eclipsed gains in the utilities sector.
At (GMT 12:50 ),UK's benchmark FTSE 100 was last trading down at 0.03 percent, Germany's Dax was up by 0.12 percent, France’s CAC was up 0.50 .
Commodities Recap
Gold prices scaled a three-month peak on Tuesday, as the dollar pulled back after U.S. Federal Reserve officials signalled a slower pace of interest rate hikes.
Spot gold was up 0.2% at $1,775.20 per ounce by 1149 GMT, after hitting its highest since Aug. 15 earlier. U.S. gold futures rose 0.1% to $1,778.70.
Oil prices fell on Tuesday as rising COVID-19 cases in China heightened fears of lower fuel consumption from the world's top crude importer.
Brent crude futures fell 78 cents, or 0.84%, to $92.36 a barrel by 1225 GMT after settling 3% down on Monday.
U.S. West Texas Intermediate crude fell by 92 cents, or 1.07%, to $84.95 after tumbling 3.5% in the previous session.
