Europe Summary and Highlights 29 Oct
Consolidating between FOMC and ECB
Mkt eying US-Israel domestic politics and impact on oil
Action largely consolidative moving out of the FOMC and into the ECB. USD/JPY holds to its recent 157.80-158 balance area, while EUR/USD holds to the mid 1.11-1.12 area, not yet mustering a covering bounce or a downside extension at this point.
NOK/SEK off a touch with oil, latter easing just over $1, on the back of WSJ reports that VP Vance sent a letter to Iran's Supreme National Security Council in an effort to restart negotiations. Market also eying Israel hung election result developments.
Swedish Q3 GDP also a solid 0.4% vs mkt 0.3%, keeping the yr/yr rate at 2.9% from 3.3%.
In other data, UK credit data on the low side, consumer credit 1.9bn vs mkt 2.15, mortgage lending 3.87bn vs mkt 4.2, approvals 53.4k vs mkt 54k.
EZ economic sentiment slips to 96.9 from 97.9 vs mkt 97.5.
Belgium GDP 0.3%q/q vs mkt 0.2%.