Currency Analyst since 2010

Oct. 31: European session

EUR/USD slid to October 3 high at $1.3646. Euro was hit by a bunch of lower-than-expected data from the euro area: German retail sales (-0.4%), GfK German consumer climate (7.0 vs. 7.3), French consumer spending (-0.1%), euro zone inflation (0.7% vs. 1.1%) and unemployment (12.2% vs. 12.0%). The market will now wait something dovish from the ECB.  

GBP/USD is consolidating in a tight $1.6045/00 range. EUR/GBP dropped by almost 70 pips to 0.8500. UK October nationwide house prices rose by 1.0 % m/m (forecast: +0.7%).

Commodity currencies have found support versus the US dollar. AUD/USD recovered to $0.9540, while NZD/USD – to $0.8395. USD/CAD weakened to 1.0450 after the release of the better-than-expected Canadian GDP.

USD/JPY is trading under a slight pressure around 98.25. USD/CHF jumped to 0.9050.

Scroll to top