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Monday, November 2nd
EUR/USD was flat in Asia trading at 1.1029. Last week, euro zone reported that inflation fell 0.1% in August. It was the first time in six months that the region saw declining inflation. Data also showed that the single currency bloc's unemployment rate slipped to 10.8% last month from 10.9% in August, whose figure was revised from a previously estimated 11.0%. Later in the day, euro zone is publishing its Manufacturing PMI. On the US side, investors are viewing ISM Manufacturing PMI. Current support level is located at 1.0931 and 1.1148, respectively.
AUD/USD was rising amid Caixin Manufacturing Index coming out in green colour at 48.3 against 47.5 expected. In Australia, AIG Manufacturing Index was showed little growth by 0.1 from its previous 52.1. Tomorrow, RBA will announce its interest rate decision. The support level is seen at 0.7068, while resistance is likely to be met at 0.7219.
USD/JPY was slightly lower this morning amid downbeat Chinese data published this weekend. However, the pair managed to return close to the opening point as Caixin manufacturing index showed more growth than expected by analysts. The economic calendar is not loaded with Japanese economic data this week, so the focus will be on Kuroda’s speech and NFP data publication. Current support and resistance levels are located at 119.24 and 121.67, respectively.
GBP/USD was broadly up last week, amid dollar being under pressure and publication of upbeat British economic data. Today, UK Manufacturing PMI numbers are due, which are going to have effect on the currency pair moves. In the perspective of this week, the expectations are bullish amid NFP anticipation. Current support and resistance levels are 1.5291 and 1.5608, respectively.
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