Romania's central bank left its key interest rate unchanged for the 12th straight session on Friday.

The Board of the National Bank of Romania kept the monetary policy rate at 1.75 percent, the bank said in a statement. The decision was in line with economists' expectations.

Rttnews says that the minimum reserve requirement ratio on foreign currency-denominated liabilities of credit institutions and the ratio on the ron-denominated liabilities were maintained at 10 percent and 8 percent. The former was lowered from 12 percent late September.

"With core inflation rising and consumer spending still strong, we expect the MPC to strike a hawkish tone at this afternoon's post-meeting conference," Capital Economics economist Liam Carson said. "Indeed, we think that the Romanian central bank will be the first in Central and Eastern Europe to raise interest rates."

EURUSD 1.0800 (EUR 2.62bn) 1.0825 (696m) 1.0875 (552m) 1.0900 (E2.25bn) 1.0980 (276m) 1.1000 (1.91bn) 1.1025-30 (810m) 1.1050 (438m) 1.1075 (298m)1.1100(1.95bn) 1.1150 (424m)

USDJPY 102.20 (USD 235m) 103.00 (295m) 103.10 (395m) 103.25 (235m) 103.50 (341m) 104.00 (740m) 104.30 (230m) 104.50 (799m)

GBPUSD 1.2200 (GBP 382m) 1.2290-1.2300 (374m) 1.2400 (213m)

1.2500 (623m) 1.3000 (978m)

EURGBP 0.8875 (EUR 200m)

USDCHF 1.0050 (USD1.0bn)

AUDUSD 0.7450-55 (AUD 331m) 0.7505 (202m) 0.7550 (211m) 0.7600 (246m) 0.7610 (269m) 0.7700 (206m)

USDCAD 1.3200 (USD 471m) 1.3300 (527m) 1.3400 (480m) 1.3425 (647m) 1.3475 (200m) 1.3500 (226m)

NZDUSD 0.7150 (NZD 210m)

AUDJPY 77.75 (AUD 304m)

EUR/USD

Offers 1.1125-30 1.1150 1.1180 1.1200 1.1250

Bids 1.1080 1.1050 1.1030 1.1000 1.0980 1.0950 1.0935 1.0900

GBP/USD

Offers 1.2500 1.2520 1.2550 1.2580 1.2600 1.2650

Bids 1.2450 1.2420 1.2400 1.2380 1.2365 1.2350 1.2330 1.2300 1.2280 1.2250

EUR/GBP

Offers 0.8935 0.8950 0.8980 0.9000 0.9030 0.9050 0.9070 0.9100

Bids 0.8885 0.8850-60 0.8835 0.8800 0.8785

EUR/JPY

Offers 114.50 114.80 115.00 115.20-25 115.50 115.75-80 116.00

Bids 114.20 114.00 113.85 113.50 113.00 112.60 112.00

USD/JPY

Offers 103.35 103.50 103.85 104.00 104.20 104.50 104.75 105.00

Bids 102.80 102.50 102.20 102.00 101.85 101.50 101.30 101.00

AUD/USD

Offers 0.7700-10 0.7730 0.7750 0.7780 0.7800

Bids 0.7650 0.7630 0.7600 0.7580 0.7550 0.7500 0.7480 0.7450

Canada's imports rose 4.7% to a record $47.6 billion in September, as an exceptionally large transaction accounted for the increase. Import prices increased 2.4% and volumes were up 2.3%. Exports edged up 0.1% to $43.5 billion, as a 0.9% increase in prices was mostly offset by a 0.8% decrease in volumes. Consequently, Canada's merchandise trade deficit with the world widened from $2.0 billion in August to a record $4.1 billion in September.

Following a 4.7% decline in the second quarter, exports rose 5.0% to $130.3 billion in the third quarter, the strongest increase since the first quarter of 2014. Imports increased 2.4% to $138.5 billion. Consequently, Canada's quarterly trade deficit with the world narrowed from a record $11.1 billion in the second quarter to $8.2 billion in the third quarter.

Employment rose by 44,000 (+0.2%) in October as a result of more part-time work. The unemployment rate remained at 7.0% as more people participated in the labour market.

Compared with 12 months earlier, employment increased by 140,000 (+0.8%), mostly in part-time work (+124,000 or +3.6%). At the same time, the total number of hours worked was little changed.

In October, employment increased among youth and edged up for men aged 25 to 54. There was little change among the other demographic groups in the month.

Provincially, employment was up in Ontario and British Columbia, while it declined in Newfoundland and Labrador.

More people were employed in construction, wholesale and retail trade, "other services," educational services, natural resources and public administration. At the same time, there were declines in business, building, and other support services.

The number of private sector employees edged up in October, while there was little change in the number of public sector employees and self-employed.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $36.4 billion in September, down $4.0 billion from $40.5 billion in August, revised. September exports were $189.2 billion, $1.0 billion more than August exports. September imports were $225.6 billion, $3.0 billion less than August imports.

The September decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.6 billion to $57.5 billion and an increase in the services surplus of $1.4 billion to $21.1 billion.

Total nonfarm payroll employment rose by 161,000 in October, and the unemployment rate was little changed at 4.9 percent, the U.S. Bureau of Labor Statistics reported today.
Employment continued to trend up in health care, professional and business services, and financial activities.

The unemployment rate, at 4.9 percent, and the number of unemployed persons, at 7.8 million, changed little in October. Both measures have shown little movement, on net, since August 2015.

Average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents to $25.92, following an 8-cent increase in September. Over the year, average hourly earnings have risen by 2.8 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $21.72 in October.

We look for nonfarm payroll growth of 170,000 in October, in line with the recent 6- month trend and up from 156,000 in September. We expect private payroll growth to have constituted 165,000 of this gain with a modest 5,000 gain in government payrolls. Our equity analysts have only seen mixed signals related to holiday hiring so far, but there have been some news reports of stronger seasonal hiring, presenting upside risk to our forecast.

The underlying rate of job growth should remain robust based on our forecast for October and especially given the possibility of an upward revision to September jobs. As we argued in Nonfarm payrolls myths and realities, there tends to be a pattern of upward revisions to September in the order of about 30,000 jobs. We expect the unemployment rate to remain unchanged at 5.0% with the labor force participation rate holding at 62.9%.

The labor force participation rate will be an important indicator to watch given the 0.1pp increase last month. We expect a trend-like 0.2% mom gain in average hourly earnings, leaving the year-over-year rate to fall to 2.5% from 2.6%, and we think average weekly hours will remain unchanged at 34.4.

The 10-year yield is at 1.796%, versus 1.811% Thursday, while the policy-sensitive 2-year edges down to 0.81% from 0.813%.

In September 2016, compared with August 2016, industrial producer prices rose by 0.1% in the euro area (EA19) and by 0.2% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In August 2016 prices fell by 0.2% in both zones. In September 2016, compared with September 2015, industrial producer prices decreased by 1.5% in the euro area and by 1.1% in the EU28.

• Efforts to get producers to cooperate in 2014 failed

• None of the OPEC ministers wanted to cut in 2014

• OPEC cannot cut output by itself

• It is great that other producers now think about cooperating

• Hopes OPEC members will reach a decision 30th Nov

• It would be nonsense to leave fossil fuels in the ground

The final Markit Eurozone PMI Composite Output Index rose to 53.3 in October, up from 52.6 in September, but below the earlier flash estimate of 53.7. Faster output growth was seen in both the manufacturing and service sectors, reaching a 30- month high in the former.

Chris Williamson, Chief Business Economist at IHS Markit said: "It's a mixed picture of performance within the single currency area. Germany has revived to return as the major growth driver, with the October PMI signalling a 0.5% quarterly GDP growth rate. Spain is also enjoying a growth rate of 0.6-0.7% as the PMI edged higher. In France, although the rate of expansion slowed in October, recent months have seen the best performance for a year".

Latest survey results signalled a solid increase in German service sector activity, with the final seasonally adjusted Markit Germany Services PMI Business Activity rising from September's 39- month low of 50.9 to 54.2. The latest PMI reading was the highest since July. Growth was generally widespread by sector, although Post & Telecommunication companies reported a sustained decline in overall output during the latest survey period. In contrast, where increased activity was recorded, panel members commented on improved demand.

Commenting on the final Markit Germany PMI survey data, Oliver Kolodseike, Economist at IHS Markit said: "Today's survey results present a welcome rebound in German service sector activity, after September's data highlighted fears of a substantial slowdown in the sector. Solid improvements in new business inflows and employment levels contributed to the upturn and underline that domestic economic fundamentals in Germany are healthy at the start of the final quarter. It is also encouraging that business confidence picked up to a six-month high with a number of firms commenting that higher investments and a positive economic climate are likely to support the sector's performance going forward. "The service sector data follow positive numbers from the manufacturing sector, released earlier in the week. The combined output of both sectors points to the second-strongest rate of expansion so far this year and suggests that the German economy continued to grow at the start of the fourth quarter."

The seasonally adjusted headline Markit France Business Activity Index - which is based on a single question asking respondents to report on the actual change in business activity at their companies compared with one month ago - posted 51.4 in October. Down from 53.3 in September, the latest index reading pointed to a modest rate of growth that was the slowest in three months.

Alex Gill, Economist at IHS Markit, which compiles the France Services PMI® survey, said: "Growth in the French service sector abated at the start of the fourth quarter, with activity increasing at the slowest rate in three months. This was indicative of waning new business growth, as further solid cuts to output prices proved insufficient to prevent the slide. On a more positive note, business expectations remained strong, suggesting companies are hopeful conditions will continue to improve in the months ahead."

October saw a slight increase in the level of business activity across Italy's services economy. Companies in the sector also took on additional staff amid stronger growth in incoming new work and higher optimism towards the year-ahead outlook for business activity, although the rate of job creation was subdued overall. Meanwhile, average prices charged by services firms continued to fall as input cost inflation subsided to the weakest for seven months.

The headline Markit Business Activity Index - which is based on a single question asking respondents to report on the actual change in business activity at their companies compared to one month ago - was at 51.0 in October, up marginally from September's 50.7. That pointed to the continuation of modest growth in business activity, the level of which has now increased for five months in a row

The Spanish service sector continued to see solid growth of business activity during October, in spite of a slowdown in new order growth. The rate of job creation also eased over the month, but business confidence strengthened. On the price front, the rate of cost inflation quickened to a 17-month high, but companies left their output prices unchanged.

The headline seasonally adjusted Business Activity Index posted 54.6 in October, down fractionally from the reading of 54.7 in September but still signalling a solid monthly expansion of business activity. The latest rise extended the current sequence of growth to three years. Where activity increased, panellists mentioned higher new orders and promotions

EUR/USD 1.0800 (EUR 2.62bn) 1.0825 (696m) 1.0875 (552m) 1.0900 (E2.25bn), 1.0980 (276m) 1.1000 (1.91bn) 1.1025-30 (810m) 1.1050 (438m) 1.1075 (298m), 1.1100(1.95bn) 1.1150 (424m)

USD/JPY 102.20 (USD 235m) 103.00 (295m) 103.10 (395m) 103.25 (235m), 103.50 (341m) 104.00 (740m) 104.30 (230m) 104.50 (799m)

GBP/USD 1.2200 (GBP 382m) 1.2290-1.2300 (374m) 1.2400 (213m), 1.2500 (623m) 1.3000 (978m)

EUR/GBP 0.8875 (EUR 200m)

USD/CHF 1.0050 (USD1.0bn)

AUD/USD 0.7450-55 (AUD 331m) 0.7505 (202m) 0.7550 (211m), 0.7600 (246m) 0.7610 (269m) 0.7700 (206m)

USD/CAD 1.3200 (USD 471m) 1.3300 (527m) 1.3400 (480m), 1.3425 (647m) 1.3475 (200m) 1.3500 (226m)

NZD/USD 0.7150 (NZD 210m)

AUD/JPY 77.75 (AUD 304m)

Overall conditions in the housing market have eased compared to last year despite recent strengthening in Sydney and Melbourne, the Reserve Bank of Australia said in its Statement on Monetary Policy on Friday.

The bank noted that housing credit growth was lower than a year ago. Tighter lending standards have been reflected in the declining share of interest-only loans over the past year.

The central bank observed that downside risks to growth in the major trading partner China in the near term appear to have diminished.

The forecasts for GDP growth were similar to those presented in the August statement. Growth is expected to be around 2.5-3.5 percent over the year to June 2017, and then increase to around 3-4 percent over the year to December 2018.

The bank forecast growth of 2.5-3.5 percent to June 2017.

The services sector in Japan swung to expansion in October, the latest survey from Nikkei revealed on Friday with a PMI score of 50.5.

That's up from 48.2 in September, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Individually output increased at firms, supported by a sharp expansion in new orders.

Rttnews says that business expectations were the strongest in six months, while inflationary pressures intensified to the greatest level in eight months.

The report also showed that the composite index jumped to 51.3 in October from 48.9 in the previous month.

EUR/USD

Resistance levels (open interest**, contracts)

$1.1254 (3024)

$1.1208 (3956)

$1.1170 (2563)

Price at time of writing this review: $1.1101

Support levels (open interest**, contracts):

$1.1043 (3721)

$1.0997 (6616)

$1.0949 (4525)

Comments:

- Overall open interest on the CALL options with the expiration date November, 4 is 43477 contracts, with the maximum number of contracts with strike price $1,1200 (3956);

- Overall open interest on the PUT options with the expiration date November, 4 is 45109 contracts, with the maximum number of contracts with strike price $1,1000 (6616);

- The ratio of PUT/CALL was 1.04 versus 1.02 from the previous trading day according to data from November, 3

GBP/USD

Resistance levels (open interest**, contracts)

$1.2700 (1421)

$1.2601 (1490)

$1.2502 (1702)

Price at time of writing this review: $1.2470

Support levels (open interest**, contracts):

$1.2399 (1659)

$1.2300 (1670)

$1.2200 (1254)

Comments:

- Overall open interest on the CALL options with the expiration date November, 4 is 35011 contracts, with the maximum number of contracts with strike price $1,2450 (2865);

- Overall open interest on the PUT options with the expiration date November, 4 is 33018 contracts, with the maximum number of contracts with strike price $1,2250 (2663);

- The ratio of PUT/CALL was 0.94 versus 0.97 from the previous trading day according to data from November, 3

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

Australian retail turnover rose 0.6 per cent in September 2016, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures.

This follows a rise of 0.5 per cent in August 2016.

In seasonally adjusted terms, there were rises in household goods retailing (2.3 per cent), cafes, restaurants and takeaway food services (1.0 per cent), food retailing (0.2 per cent) and department stores (0.5 per cent). There were falls in clothing, footwear and personal accessory retailing (-0.6 per cent) and other retailing (-0.1 per cent) in September 2016.

In seasonally adjusted terms, there were rises in New South Wales (0.8 per cent), Victoria (0.6 per cent), Queensland (0.5 per cent), Western Australia (0.5 per cent), South Australia (0.3 per cent), the Northern Territory (1.2 per cent), Tasmania (0.4 per cent) and the Australian Capital Territory (0.3 per cent).