A1 Trading

Forex Market Recap (24-29 October 2021)

October 30, 2021
Bart Kurek

The AUD took the top stop this week due to high inflation updates and rate hike speculation, while traders looked bearish on the EUR all week, due to low expectations of a rate hike and weak economic updates.

USD:

  • New home sales hit six-month high as the median price stays above $400K
  • Advance GDP for Q3 2021 2.0% vs 2.8% forecast
  • Weekly jobless claims fell to 281K vs 289K forecast
  • Core PCE price index increased 3.6% for a fourth straight month

EUR:

  • Spain’s central bank chief Pablo Hernandez de Cos said that high inflation may persist
  • German industrial exports hurt by raw material supply problems
  • German unemployment fell by 39K in seasonally-adjusted terms to 2.46M in October
  • Germany preliminary GDP in Q3 2021 up 1.8% on the previous quarter
  • France preliminary GDP in Q3 2021 up 3.0%
  • France CPI +2.6% in October

GBP:

  • BoE's Tenreyro says needs time to think about rate hike
  • Serious covid cases hit levels last seen in March
  • UK Chancellor delivers $103B of stimulus to boost economy
  • UK slams France’s Brexit threats over fishing as tensions rise
  • Mortgage approvals hit 14-month low as tax break ends; 72,645 in September from 74,214 previous

CAD:

  • BoC accelerates potential timing of rate hikes; ends bond buying program on Wednesday
  • Canada Industrial Product Price Index +1.0% m/m in Sept; Raw materials: +2.5% m/m in Sept.

JPY:

  • BoJ holds monetary policy & sees inflation below 2% target for at least two years
  • BoJ says it will not be influenced by the actions of moves by other central banks
  • Jobless rate unchanged at 2.8% in Sept
  • Consumer confidence falls to 39.2 vs. 37.8 previous

AUD:

  • CPI rises 0.8% q/q, 3.0% y/y; core inflation rises by 2.1% vs. 1.8% forecast
  • Export prices climb 6.2% q/q, slowing from 13.2% in Q2
  • Import prices rose 5.4% vs. 1.9% previous
  • PPI expands 1.1% in Q3
  • Retail sales climb 1.3% in September as economy reopens

NZD:

  • Imports rise to $6.6B in September vs. $4.4B in exports; third consecutive record month for imports
  • Business confidence falls in October as 13.4% of survey respondents expected economy to weaken.
  • Consumer confidence falls 7 points to 98 as Covid-19 restrictions continue
  • RBNZ Governor Adrian Orr shows tightening bias with call on financial institutions to use their balance sheets to support economic recovery

The EdgeFinder

All-in-one Fundamental Dashboard

30 Days Access

Free Telegram

Join for daily analysis and trade setups!

Join Telegram

DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
Signals

A1 Trading Company

A1 Trading is a leading financial analysis and trading education company dedicated to empowering traders of all levels. Our team combines extensive market knowledge with cutting-edge technology to provide valuable insights and tools for traders worldwide.
2024 All Rights Reserved | A1 Trading Company
There is a significant degree of risk involved in trading securities. With respect to foreign exchange trading, there is considerable risk exposure, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.
homesmartphonelaptop-phonecross-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram