•Japan Household Spending (YoY) (Sep) -1.1% -1.8% forecast, -1.9% previous
•Japan Foreign Bonds Buying -4,457.9B ,-897.1B previous
•Japan Foreign Investments in Japanese Stocks 139.4B ,10.3B previous
•Japan Foreign Reserves (USD) (Oct) 1,239.0B, 1,254.9B previous
Looking Ahead Economic Data(GMT)
•07:45 France Current Account (Sep) -0.60B previous
• 07:45 France Exports (Sep) 49.7B previous
•07:45 France Imports (Sep) 57.0B previous
•07:45 France Trade Balance (Sep) -7.0B forecast, -7.4B previous
•08:00 Switzerland SECO Consumer Climate (Q4) -33 forecast, -19 previous
•09:00 Italy Industrial Production (YoY) (Sep) -3.2% previous
•09:00 Italy Industrial Production (MoM) (Sep) -0.4% 0.1% previous
•10:00 Greece CPI (YoY) (Oct) 2.9% previous
•10:00 Greece HICP (YoY) (Oct) 3.1% previous
•11:00 Italy Retail Sales (MoM) (Sep) 0.2% forecast, -0.5% previous
•11:00 Italy Retail Sales (YoY) (Sep) 0.8% previous
Looking Ahead Events And Other Releases(GMT)
•09:30 ECB McCaul Speaks
Currency Forecast
EUR/USD: The euro dipped against dollar on Friday as investors assessed global outlook at the end of a volatile week. Trump swept back to the White House on Tuesday with Republicans taking back the Senate and potentially increasing their House majority, although votes are still being counted. The outcome defied polls that predicted a neck-and-neck race with Democrat Kamala Harris.Powell said Tuesday's election, which will put in the White House a president who has pledged widespread deportation of immigrants, broad-based tariffs and tax cuts, would have no near-term impact on U.S. monetary policy . The euro fell 0.17% to $1.0782. Immediate resistance can be seen at 1.0779(50%fib), an upside break can trigger rise towards 1.08(6.8%fib).On the downside, immediate support is seen at 1.0747(38.2%fib), a break below could take the pair towards 1.0710(23.6%fib
GBP/USD: Sterling dipped on Friday as markets weighed the impact of Donald Trump's return to the White House and what that means for the U.S. economy and its interest rate outlook. The U.S. dollar had lost ground in the previous session as traders closed out profitable bets on a Trump presidency following his election victory.That pushed sterling further from the psychologically important $1.30 level. The central bank's rate trajectory has been clouded by Trump's election victory as his plans for hefty import tariffs are widely expected to stoke inflation.Traders have since reacted to the outcome of the election by trimming bets on rate cuts next year Immediate resistance can be seen at 1.2983(38.2%fib), an upside break can trigger rise towards 1.3062 (50%fib).On the downside, immediate support is seen at 1.2878 (23.6%fib), a break below could take the pair towards 1.2850 (Lower BB).
AUD/USD: The Australian eased against dollar on Friday as investors weighed security and trade implications of Donald Trump's return to the White House. Focus is also on the conclusion of China's week-long National People's Congress Standing Committee where investors are expecting further stimulus measures from Beijing. Trump's victory in the U.S. presidential election has sparked concerns that his proposed tariffs, particularly those targeting China, could negatively affect economies that rely on China as their top trading partner.At GMT 05:52, the pair was trading down 0.35% at 0.6651 retreating from daily high 0.6680. Immediate resistance can be seen at 0.6650(38.2%fib), an upside break can trigger rise towards 0.6682(23.6%fib).On the downside, immediate support is seen at 0.6624 (50%fib), a break below could take the pair towards 0.6598(61.8%fib).
USD/JPY: The dollar eased against yen on Friday after Finance Minister Kato signaled that Japan would respond appropriately to excess FX moves.Finance Minister Katsunobu Kato said on Friday after Japanese authorities would take appropriate steps against excess moves in the foreign exchange market. Kato's comments were mostly in line with those by top currency diplomat Atsushi Mimura the day earlier, which represented the government's strongest warning against speculative currency moves in recent months. The dollar was down at 0.09 percent at 152.86 per yen.The dollar against a basket of currencies ticked up 0.1% to 104.50, on track to gain about 0.2% for the week. Immediate resistance can be seen at 154.86(23.6 %fib) an upside break can trigger rise towards 155.70(Higher BB). On the downside, immediate support is seen at 152.82(38.2%fib) a break below could take the pair towards 151.47(50%fib).
Equities Recap
Asian stocks pared early gains on Friday as investors cautiously turned their focus to stimulus announcements from China later in the day with Beijing's week-long legislative meeting drawing to a close.
China A50 was down by 1.33%, South Korean KOSPI was down by 0.14%, while Hang Seng was down by 0.79%
Commodities Recap
Gold prices rose more than 1% on Thursday, helped by a retreat in the U.S. dollar, while the Federal Reserve cut interest rates by a quarter of a percentage point as widely expected.
Spot gold was up 1.2% at $2,691.36 per ounce as of 2:22 p.m. EST (1919 GMT), after dropping to a three-week low on Wednesday. U.S. gold futures settled 1.1% higher at $2,705.80.
Oil prices fell slightly on Friday as the risk that a hurricane in the Gulf of Mexico will significantly affect U.S. oil and gas output declined, while the market weighs how President-elect Donald Trump's policies might affect supplies.
Brent crude oil futures fell 47 cents, or 0.6%, to $75.16 per barrel by 0446 GMT. U.S. West Texas Intermediate (WTI) crude fell 55 cents or 0.8% to $71.81. The benchmarks fell after rising nearly 1% on Thursday.
