Forex Focus on European Services PMI’s and EIA Crude Oil Stocks Change

European trading session starts today with German factory orders 7:00GMT followed by French services and composite PMI’s due at 8:50GM German services and composite PMI’s 8:55GMT, Eurozone services and composite PMI’s wil be out at 9:00GMT. The Eurozone retail sales will be released at 10:00GMT.

In the American calendar, the US Mortgage applications will be out at 12:00, the Nonfarm Productivity q/q, and Unit Labor Costs q/q will be released at 12:30GMT. In Canada the  Ivey PMI will be out at 14:00GMT.

 

Oil traders will focus on EIA Crude Oil Stocks Change and EIA Cushing Crude Oil Stocks Change due at 14:30. Yesterday the API Weekly Crude Oil Stock increased to 4.26M in November 1st from previous 0.592M.

In our central bank calendar, the FOMC Member Williams speaks at 13:30 followed by ECB Supervisory Board Member Hakkarainen at 13:45.

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Japan Jibun Bank Services PMI came in at 49.7 below forecasts (50.3) in October. New Zealand Unemployment Rate came in at 4.2% topping forecasts of 4.1% in 3Q, the Participation Rate came in at 70.4%, above expectations of 70.3% in 3Q. New Zealand GDT Price Index came in at 3.7%, above forecasts of 1.9%.

Asian equity indices are trading higher today; Nikkei is 0.22% higher at 23.303 while the Hang Seng trading 0.07% higher at 27,703. EURUSD trades 0.01% lower at 1.1073; the USDJPY is 0.15% lower at 108.99 while the AUDUSD is 0.09% lower at 0.6887.

The central bank of China set the Yuan rate (USDCNY) at 7.0080 versus yesterday settlement at 7.0385.More content