Surveys of Consumers chief economist, Richard Curtin: The Sentiment Index in early November erased the small October decline to climb to its highest level since mid 2016 and rise slightly above the 2016 average of 91.1.

The recent gain in sentiment was driven by an improved outlook for the economy. The most striking finding in early November was that both near and long-term inflation expectations jumped to 2.7% from last month's record matching lows of 2.4%.

These increases must be replicated before they can be taken to indicate a troublesome development; thus far, the data has simply repeated the March 2016 peaks.

Nonetheless, it may be viewed as added justification for next month's expected interest rate hike. The expected small increase in interest rates had little impact on favorable buying attitudes, and still supports a 2.5% increase in real consumer spending during 2017. Unfortunately, the November data must be accompanied by the proviso that it was collected before the result of the Presidential election was known late Tuesday.

"In my view, the Fed appears reasonably close to achieving both the inflation and employment components of its mandate," Mr. Fischer said in remarks prepared for delivery at a conference hosted by the Central Bank of Chile. "Accordingly, the case for removing accommodation gradually is quite strong, keeping in mind that the future is uncertain and that monetary policy is not on a preset course."

"EUR/AUD material bounce in the recent weeks has failed to produce a weekly close above key MT pivot at 1.45 and as such maintains our aggressive 1.36/1.38 target. We now look to future weekly closes for further confirmation of the MT downtrend.

A weekly close below the lower weekly Bollinger band around 1.4270/90 will provide confirmation of the ongoing decline and validate our 1.36/1.38 target.

Only a weekly close above 1.4500 would confirm that our downside target is too aggressive".

Copyright © 2016 NAB, eFXnews™

EUR/USD 1.0900 (EUR 1.35bn) 1.1000 (1.0bn) 1.1275 (902m) 1.1300 (1.24bn)

USD/JPY 103.00-02 (USD 946m) 104.50 (1.1bn) 104.65-70 (687m),105.00 (1.32bn) 105.30 (332m) 105.40 (300m) 105.50 (950m), 106.45-50 (976m) 106.92 (210m) 107.00 (819m) 108.00 (200m)

EUR/GBP 0.8850 (EUR 345m)

AUD/USD 0.7400 (AUD 219m) 0.7775 (250m)

USD/CAD 1.3350 (USD 429m) 1.3400 (290m) 1.3600 (201m)

EUR/JPY 115.00 (EUR 287m)

AUD/NZD 1.0420 (AUD 260m) 1.0500 (230m) 1.0650 (823m)

• There's no real basis yet for firm analysis

• Day to day changes in bond yields are not going to matter

• We will assess what goes on by early December

EUR/USD

Offers : 1.0900 1.0925-30 1.0950 1.0980-85 1.1000 1.1025-30 1.1055-60

Bids : 1.0865 1.0850 1.0830 1.0800 1.0785 1.0765 1.0750

GBP/USD

Offers : 1.2600 1.2620 1.2650 1.2685 1.2700 1.2750 1.2800

Bids : 1.2550 1.2520-25 1.2500 1.2480 1.2450 1.2420 1.2400 1.2375-80 1 .2350 1.2330 1.2300

EUR/GBP

Offers : 0.8660 0.8680 0.8700 0.8730 0.8750 0.8785 0.8800 0.8820-25 0.8850-55

Bids : 0.8625-30 0.8600 0.8585 0.8550 0.8500 0.8450

EUR/JPY

Offers : 116.50-55 117.00 117.30 117.50 118.00 118.45-50 119.00

Bids : 116.00 115.80 115.00 114.80 114.50 114.20 114.00

USD/JPY

Offers : 106.70 107.00 107.50 107.70 108.00 109.00 109.15-20 109.50

Bids : 106.20 106.00 105.75-80 105.50 105.20 105.00 104.85 104.50 104.30 104.00

AUD/USD

Offers : 0.7650-60 0.7685 0.7700 0.7730 0.7750 0.7765 0.7780 0.7800

Bids : 0.7600 0.7580 0.7550 0.7520 0.7500 0.7475-80 0.7450

Elections in the United States have the most serious impact on the global financial markets, Deputy Finance Minister Maxim Oreshkin said at the conference "Eurasian economic integration".

"With regard to external risks, the most interesting topic, of course, -. Presidential elections in the US. They have a very serious impact on the financial markets The main story, which you need to pay attention. US Treasuries are trading on the highest level this year"- he said.

The gross domestic product (GDP) preliminary estimate showed construction output decreased by 1.4%. The revision to a decrease of 1.1% has no impact on GDP to 1 decimal place.

Downward pressure on the quarterly estimates came from all repair and maintenance which decreased by 3.6%, partially offset by an increase in all new work of 0.3%.

Between Quarter 3 2016 and Quarter 3 2015, output was estimated to have increased by 0.1%. All new work increased by 2.0% while there was a fall of 3.4% in repair and maintenance.

In September 2016, construction output increased by 0.3% compared with August 2016. All new work increased by 1.2% while there was a fall in repair and maintenance of 1.4%. Users should note that we always warn against overly interpreting 1 month's figures.

EUR/USD 1.0900 (EUR 1.35bn) 1.1000 (1.0bn) 1.1275 (902m) 1.1300 (1.24bn)

USD/JPY 103.00-02 (USD 946m) 104.50 (1.1bn) 104.65-70 (687m),105.00 (1.32bn) 105.30 (332m) 105.40 (300m) 105.50 (950m), 106.45-50 (976m) 106.92 (210m) 107.00 (819m) 108.00 (200m)

EUR/GBP 0.8850 (EUR 345m)

AUD/USD 0.7400 (AUD 219m) 0.7775 (250m)

USD/CAD 1.3350 (USD 429m) 1.3400 (290m) 1.3600 (201m)

EUR/JPY 115.00 (EUR 287m)

AUD/NZD 1.0420 (AUD 260m) 1.0500 (230m) 1.0650 (823m)

• At 13:00 GMT Italy will hold an auction of 30-year bonds

• At 17:00 GMT the Federal Reserve Vice Chairman Stanley Fischer will deliver a speech

• At 18:50 GMT the Bank of Canada Governor Stephen Poloz will deliver a speech

"Trump's main goal is to make America stronger, which we consider positive from the standpoint of the US economy. Campaign promises like infrastructure investment and tax cuts were extremely aggressive, and while they are likely to revised in Congress, they should remain substantial.

The USD/JPY rose from 75 to 125 in the so-called Abe market, then dropped back to 100. We believe the basic trend is a stronger yen, and maintain our mainline scenario that the USD/JPY will slide to the mid 90s if the US economy should look to slow next year before the details of the new administration's policies are clear.

Still, we feel that we need to assess anew the impact of policies - e.g. fiscal spending, tax cuts, deregulation, Homeland Investment Act - with the surprising Republican hold on the executive and legislative branches.

The upward/downward risk balance for the USD/JPY will depend on how we view the acceleration in US growth, rising interest rates and the equity rally".

Copyright © 2016 DB, eFXnews™

Romania's consumer prices decreased at a slower-than-expected pace in October, figures from the National Institute of Statistics showed Friday and cited by rttnews.

The consumer price index fell 0.4 percent year-over-year in October, slower than the 0.6 percent drop in September. That was just below the 0.5 percent decline expected by economists.

Prices of non-food products slid 0.8 percent annually in October and costs for services went down by 1.1 percent. At the same time, grocery prices grew 0.5 percent.

On a monthly basis, consumer prices rose 0.4 percent in October, in line with expectations.

EUR/USD

Resistance levels (open interest**, contracts)

$1.1072 (2092)

$1.1017 (884)

$1.0976 (628)

Price at time of writing this review: $1.0913

Support levels (open interest**, contracts):

$1.0864 (3147)

$1.0834 (3472)

$1.0789 (4477)

Comments:

- Overall open interest on the CALL options with the expiration date December, 9 is 61939 contracts, with the maximum number of contracts with strike price $1,1200 (6387);

- Overall open interest on the PUT options with the expiration date December, 9 is 56048 contracts, with the maximum number of contracts with strike price $1,0800 (4956);

- The ratio of PUT/CALL was 0.90 versus 0.88 from the previous trading day according to data from November, 10

GBP/USD

Resistance levels (open interest**, contracts)

$1.2806 (1183)

$1.2709 (1485)

$1.2613 (1294)

Price at time of writing this review: $1.2574

Support levels (open interest**, contracts):

$1.2489 (2824)

$1.2392 (1287)

$1.2295 (3564)

Comments:

- Overall open interest on the CALL options with the expiration date December, 9 is 33103 contracts, with the maximum number of contracts with strike price $1,3400 (2560);

- Overall open interest on the PUT options with the expiration date December, 9 is 34232 contracts, with the maximum number of contracts with strike price $1,2300 (3564);

- The ratio of PUT/CALL was 1.03 versus 1.07 from the previous trading day according to data from November, 10

* - 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.

In addition, 90% of those surveyed believe in the further expansion of the stimulus from the Central Bank. Only 5 of those surveyed believe that the new policy easing may occur in April 2017. Only 3 out of 25 economists are confident that new measures will be implemented in January '17, and only one waiting for that in December this year. Also, 19 economists expect a rate cut of 0.1% or more.

As reported by the Federal Statistical Office (Destatis), the selling prices in wholesale trade increased by 0.5% in October 2016 from the corresponding month of the preceding year. In September and in August 2016 the annual rates of change were -0.3% and -1.2%, respectively.

From September 2016 to October 2016 the index rose by 0.4%.

Consumer prices in Germany were 0.8% higher in October 2016 compared with October 2015. This means that the inflation rate as measured by the consumer price index continues to rise in the second half of the year (August 2016: +0.4%; September 2016: +0.7%). An inflation rate of +0.8% was last recorded in October 2014. Compared with September 2016, the consumer price index rose by 0.2% in October 2016. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 28 October 2016.

The development of energy prices (-1.4% on October 2015) had a downward effect on the overall rise in prices in October 2016, as had been the case in the preceding months. However, the year-on-year decline in energy prices has continuously slowed since July 2016 (July 2016: -7.0%; August 2016: -5.9%; September 2016: -3.6%). Compared with October 2015, especially household energy prices were down (-2.3%, including charges for central and district heating: -7.5%; gas: -3.9%; heating oil: -1.4%). The prices of motor fuels were up year on year (+0.4%, including supergrade petrol: +0.7%; diesel fuel: +0.2%). Excluding energy, the inflation rate (+1.1%) was slightly lower than in September 2016 (+1.2%).