Daily update
The American dollar was trading generally lower yesterday, however EUR/AED pair was able to advance beyond the 4.04 region. The disappointment for USD came from USD core readings which include food and energy, as monthly basis it rose by 0.1%. While compared to a year before, it resulted at 2.2%. Both data came below previous readings and market's expectations. Despite this poor readings USD gained momentum later in the day largely due to USD Housing market index readings meeting its expected levels. After many disappointing trading sessions for GBP over the past few months, GBP had a strong trading session yesterday against USD. GBP Consumer Price index rose by 1.0% in the year to September, the highest since November 2014. The YoY core figure was up to 1.5%, while monthly basis, inflation surged by 0.2%. The figures beat markets expectations, and suggest there's no need for further price easing in the UK. The day will start with report from China on Gross Domestic Product which is a key indicator that represents the pace at which the Chinese economy growth rate. As the Chinese economy has influence on the global economy. Later in the evening USA will release reports on Housing starts which is an indicator on movements of the US housing market. The day will conclude with the Interest Rate decision from Bank of Canada.Yesterday’s markets
Yesterday explained
Today’s market
Today’s focus
