Eurozone inflation slows, The Trump Administration is in talks with Ankara, & A Brexit delay is possible.
In Barcelona, during rallies against the jailing of nine Catalan separatist leaders – protesters and police clashed late on Tuesday, with the unusually tense confrontations turning into a major challenge for Spanish and regional authorities. Affects EUR
With EU sources reporting a “standstill”, Irish Prime Minister Leo Varadkar said on Wednesday that last-ditch talks between the European Union and Britain had so far failed to resolve issues standing in the way of an amicable Brexit. Affects GBP
British Brexit Minister Stephen Barclay said the government would comply with assurances given to a Scottish court that Prime Minister Boris Johnson would request a Brexit delay if a deal is not reached by Oct. 19. Affects GBP
On Wednesday, U.S. President Donald Trump’s national security adviser flew to Turkey as part of an emergency delegation to try to persuade Ankara to halt an assault on northern Syria that has forced Washington into an abrupt retreat. Affect the TRY
The European Union statistics agency said on Wednesday, Eurozone inflation dropped to its slowest pace in nearly three years in September, more than previously estimated. Affects EUR
U.S. Building Permits from September will be released. Building Permits measures the change in the number of new building permits issued by the government. Affects USD.
U.S. Crude Oil Inventories will be published. The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. Affects USD.
Statements by the British Prime Minister that the parties need more time to agree on a Brexit deal may mean another delay. Nevertheless, EU chief negotiator Michel Barnier remains optimistic.
The asset’s price may continue to rise. The Fibonacci levels will only exert pressure at 1.28350.
Gold is flirting with its support level. If the market does not receive positive news from the trade war between China and the United States, the demand for gold will increase.
Applying two Fibonacci fans suggests a possible collapse in the price of bitcoin to 7100-7300
GBP/NZD this day in history
- Since 2000, October 17th has been a trading day 14 times.
- On 40% of those days, the asset ended with growth.
- The maximum reinforcement range was 1.26%
- The trend down was limited to 0.91%.