EUR/USD: to remains supported until ECB meeting? - Scotiabank

EUR/USD has nudged modestly higher against the USD, with firm Eurozone PMI data backstopping spot in the overnight session.

Key Quotes:

"Eurozone manufacturing PMI rose to 58.6 in Oct, against expectations of a dip to 57.8 on positive French and German data; Eurozone services eased to 54.9 in the month, weighted down by slightly weaker German data, while the Eurozone composite index fell to 55.9 this month, from 56.7 in Sep, suggesting a slight softening in what looks to remain a generally health H2 for the broader Eurozone economy.

We expect EUR/USD to remain supported at least until Thursday’s ECB meeting where policy makers may provide some line of sight on tapering of asset purchases next year."

Oct 24, 2017

Gold intermarket: gold sticks to the script, (risk-on, gold down)

Gold is sticking to the script, with a pick up in the Dow, (as earnings continue to come in largely ahead of expectations), Gold has dropped below key

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