October data indicated a robust and accelerated expansion of U.S. private sector business activity. The upturn was supported by the fastest rise in manufacturing production for eight months, alongside another robust increase in service sector output.

The seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index rose to 55.7 in October, from 54.8 in September. As a result, the latest reading signalled the fastest upturn in private sector output since January.

However, growth of overall new business volumes moderated further from the two-year peak seen in August. This reflected a slowdown in the service sector, as manufacturing firms reported the strongest rise in new work since March.

EURUSD: 1.1800 (EUR 1.55bln) 1.1830 (560m) 1.1850 (985m)

USDJPY: 112.50 (USD 950m) 113.00 (600m) 113.50-55 (900m) 114.00 (880m) 114.50 (620m)

GBPUSD: Ntg of note

AUDUSD: 0.7900 (AUD 380m) 0.7920 (275m) 0.7938 (320m)

EUR/USD: 1.1800(1.55 b), 1.1830(553 m), 1.1850(987 m), 1.2000(908 m)

USD/JPY: 110.40-50(650 m), 112.50(946 m), 112.95-113.00(602 m), 113.50-55(895 m), 113.95-114.00(879 m), 114.50(620 m)

USD/CHF: 0.9840(405 m)

AUD/USD: 0.7900(376 m), 0.7920(271 m), 0.7938(322 m)

NZD/USD: 0.7100(558 m), 0.7125(359 m)

USD/CAD: 1.2550(491 m)

EUR/GBP: 0.8950(722 m)

EUR/JPY: 133.00(300 m), 133.80(643 m)

AUD/JPY: 86.75(400 m)

The recent strong growth of the euro area economy was maintained at the start of the final quarter of the year, driven by another marked improvement in new orders. Rising workloads encouraged firms to take on extra staff at the sharpest pace in over a decade.

The headline IHS Markit Eurozone PMI posted 55.9 in October, according to the preliminary 'flash' estimate (based on approximately 85% of final replies), down from 56.7 in September

Germany's private sector economy maintained strong growth momentum at the start of the fourth quarter, with inflows of new orders increasing at the fastest rate for six-and-a-half years in October, according to flash PMI survey data from IHS Markit.

Overall business activity rose sharply, albeit at a slightly slower rate than in September, while the pace of job creation accelerated to a five-month high. The survey meanwhile showed a further pick-up in inflation pressures, as average prices charged for goods and services rose at one of the fastest rates seen since mid-2011.

The IHS Markit Flash Germany Composite Output Index was at 56.9 in October, down slightly from September's 77-month high of 57.7, but nonetheless registering one of the highest readings seen since 2011.

• Corporate credit standards eased in Germany, tightened in Spain and were unchanged in France, Italy and the Netherlands in q3

• Credit standards broadly unchanged for corporates in q3 but eased for mortgages, consumer credit

• Demand for corporate loans, consumer credit, mortgages to rise further in q4

• Banks reported improved access to retail and wholesale funding in q3, see further improvement in q4

Flash France Composite Output Index at 57.5 in October (77-month high).

Services Activity Index rises to 57.4 in October (57.0 in September), 7-month high.

Manufacturing Output Index rises to 58.1 (57.6 in September), 78-month high.

Manufacturing PMI increases to 56.7 (56.1 in September) 78-month high.

According to latest flash data, the resurgence in the French private sector showed no sign of abating at the start of the fourth quarter. Indeed, the rate of growth accelerated from September with the IHS Markit Flash France Composite Output Index, which is based on around 85% of usual monthly survey replies, posting 57.5, up from 57.1 in September and a near-six-and-a-half-year high.

EUR/USD

Resistance levels (open interest**, contracts)

$1.1890 (3367)

$1.1831 (1321)

$1.1796 (406)

Price at time of writing this review: $1.1760

Support levels (open interest**, contracts):

$1.1715 (2963)

$1.1691 (3000)

$1.1662 (4926)

Comments:

- Overall open interest on the CALL options and PUT options with the expiration date November, 3 is 101590 contracts (according to data from October, 23) with the maximum number of contracts with strike price $1,2000 (6678);

GBP/USD

Resistance levels (open interest**, contracts)

$1.3352 (3314)

$1.3297 (3975)

$1.3262 (2367)

Price at time of writing this review: $1.3209

Support levels (open interest**, contracts):

$1.3169 (2155)

$1.3124 (1671)

$1.3093 (2274)

Comments:

- Overall open interest on the CALL options with the expiration date November, 3 is 39840 contracts, with the maximum number of contracts with strike price $1,3200 (3975);

- Overall open interest on the PUT options with the expiration date November, 3 is 35516 contracts, with the maximum number of contracts with strike price $1,3000 (3178);

- The ratio of PUT/CALL was 0.89 versus 0.88 from the previous trading day according to data from October, 23

* - 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.

• Flash Manufacturing Output Index at 52.6 (53.2 in September)

• Business confidence softens to 11-month low

Commenting on the Japanese Manufacturing PMI survey data, Joe Hayes, Economist at IHS Markit, which compiles the survey, said: "Although still improving solidly, the Japanese manufacturing sector appeared to lose some momentum in October, as growth eased from September's fourmonth high. Softer expansions were seen for both output and new orders. Meanwhile, firms continued to largely absorb cost pressures, with output price inflation only marginal again in October. "Signs of slowing growth coincided with faltering optimism, as the level of positive sentiment fell to an 11- month low."

(pare/closed(GMT +3)/change, %)

EUR/USD $1,1748 -0,27%

GBP/USD $1,3196 +0,05%

USD/CHF Chf0,98483 +0,09%

USD/JPY Y113,47 -0,03%

EUR/JPY Y133,31 -0,29%

GBP/JPY Y149,741 +0,03%

AUD/USD $0,7808 -0,06%

NZD/USD $0,6975 +0,16%

USD/CAD C$1,26457 +0,16%

03:30 Japan Manufacturing PMI (Preliminary) October 52.9 53.1

10:00 France Services PMI (Preliminary) October 57.0 56.9

10:00 France Manufacturing PMI (Preliminary) October 56.1 55.9

10:30 Germany Manufacturing PMI (Preliminary) October 60.6 60.0

10:30 Germany Services PMI (Preliminary) October 55.6 55.6

11:00 Eurozone Services PMI (Preliminary) October 55.8 55.7

11:00 Eurozone Manufacturing PMI (Preliminary) October 58.1 58.2

16:00 Belgium Business Climate October -3.5 -3.0

16:45 U.S. Manufacturing PMI (Preliminary) October 53.1 53.6

16:45 U.S. Services PMI (Preliminary) October 55.3 55.6

17:00 U.S. Richmond Fed Manufacturing Index October 19 17