Morning Analysis, by Junaid Wilson
Yesterday was a fairly quiet day in financial markets this is taking into consideration the Paris terror major attacks over the weekend. The Japanese Yen and Swiss franc opened the week higher on safe heaven attraction but both currencies ended the day lower across the board, stock indexes opened lower but came off low though-out the day. As analysts and traders see no major impact economic health.
The euro ended the day down -0.50% lower vs the USD, but stayed firm against the Japanese Yen with a rally towards the end of European session.
Eurozone inflation was revised slightly higher in the final report for October. A 0.1% monthly increase in the CPI was in line with expectations and enough to lift the zero percent yearly rate estimated in the flash data a tick higher to 0.1 percent. This was up 0.2% from its final September mark and that has month’s decline.
Looking forward today we have Inflation reports from the United Kingdom and the United states. With the DXY (US dollar) approaching the key 100 resistance level it should be interesting to see if it’s enough to set-of another rally heading into mid-week.