EURUSD

Big day ahead for EUR traders EZ policy makers who are waiting for EZ GDP German inflation numbers as well. EURUSD was little changed today, trading at 1.0816 amid tight volatility for the last few sessions. Inflation in Germany is expected to increase to 1.8 from 1.6, if that happens, thats not going to be good news for the German government policy makers. 

The forecast poll indicated to more than 80 who were bearish, supported by bearish trend index in 1H chart. Price action remained slow, likely to remain between 1.0780 1.0840 until afternoon.

USDJPY

USDJPY was little changed this morning, trading at 153.23. Consumer confidence in Japan weakened in October to 36.2 from 36.9, Japans retail trade industrial production will be due later today. With more US economic releases for today, higher volatility is likely to materialize later, mainly in USD. In the meantime, Japans main opposition party the Democratic Party suggested that the central bank should refrain from changing the policy now. 

Price action started falling, targeting 152.50 then 151.75 with almost 40 in bearish bias only 20 bullish.

GBPUSD

GBPUSD slightly fell today to 1.2997, after two consecutive days of gaining. UK HM Treasury will release Autumn Forecast Statement later today, it is one of the two statements treasury issues each year. According to the market expectations, BoE rate cut in November dropped to 86 from 100 before, however if the UK macros keep showing weakness in…