Spanish Flag and Euros

Unemployment in Spain fell to the lowest since the end of 2011 in the third quarter this year as economic growth picked up.
Joblessness fell to 23.7% in the 3rd quarter from 24.5% reported in the 2nd quarter. Economy grew by 0.5% in the 3rd quarter, predicted by Bank of Spain

Key market moving events today

      • National Debt of United States currently standing at $17.9 trillion – the $18 trillion mark will be surpassed soon (for the first time ever)
      • French Flash Manufacturing Purchasing Managers’ Index shows contraction for October, 47.3 reported vs 48.8 previously
      • Spanish Unemployment Rate decreasing to 23.7% from 24.5%
      • German Flash manufacturing Purchasing Managers’ Index indicates expansion in October, 51.8 vs 49.9 previous month
      • Manufacturers expect Industrial Orders to decrease for the coming 3 months, according to Confederation of British Industry

Spanish Economy grew 0.5% in 3rd quarter

GPB/USD (Daily)

There are some bulls for sure but so far bears are dominating heavily. So far we have continued to make new lows while not making any new highs.

When there will be new highs and RSI will close above 50 be more careful when shorting GBP/USD.

Market moving events on Friday

      • New Zealand Trade Balance
      • GfK German Consumer Climate
      • UK Prelim GDP q/q
      • US New Home Sales


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