Daily update
Most of the major currencies gained some ground that was lost last week as the US came under pressure following a series of disappointing economic figures. During a Q&A session at New York, Fed's Vice Chairman Stanley Fischer said that low rates make monetary policy "more difficult" and adding on that he's not "enthusiastic" about raising inflation target rate. Industrial Production for September rose only by 0.1% after dropping to - 0.5% in August. Previously, the NY Empire State index dropped to -6.8 for the month of October, well below the 1.0 of consensus. Meanwhile in Europe, euro zone consumer price index rose 0.4% in September in line with expectations. CPI gained 0.4% last month. Major Data will be released from New Zealand, Australia, UK and USA. Day begins with the speech by Reserve Bank of Australia’s Deputy Governor Lowe. Top tier data from New Zealand on consumer price index will provide a clear indication to measure inflation and changes in purchasing trends in New Zealand. By Midday Investors will be eyeing on Consumer Price Index data released by UK for September. This will give an indication whether GBP will further decline or regain its losses after the statements made by PM Theresa May on Article 50 and the Parliament vote on Brexit. To conclude the day, USA will release its data on NAHB housing market index and Consumer price index for several fields such as Ex Food & Energy & Core.Yesterday’s markets
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