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Forex Focus on Services PMI

Investors focus will be today on services PMI out from Eurozone, France Germany and Eurozone Services PMI will be released at 7:50. The Eurozone retail sales is due at 9:00GMT.

In the American forex calendar the Challenger Job Cuts will be out at 11:30 GMT while the Initial Jobless claims will be released at 12:30GMT. The factory orders and ISM Non Manufacturing PMI is due at 14:00GMT.

In our central bank calendar we have speeches from ECB Supervisory Board Chair Enria, ECB Vice President de Guindos while Fed Governor Quarles will deliver a speech at 12:30GMT.

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During Asian trading session the Australia Commonwealth Bank Services PMI came in at 52.4 below expectations of 52.5 in September.

New Zealand ANZ Commodity Price came in at 0%, below expectations of 0.4% in September.

Asian indices are trading lower today; Nikkei is 2.00% lower at 21,343. EURUSD trades 0.04% lower at 1.0955; the USDJPY is 0.08% lower at 107.09 while the AUDUSD is 0.11% higher at 0.6713.

Trade tensions between EU and US and political turbulence in Capitol Hill will continue to have a significant impact on forex markets. Brexit developments will be the main force that drives GBP.Download our latest quarterly market outlook for our longer-term trade ideas.

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