Forex Marketz Daily Forex News – Fully Markets Update
Good morning and welcome to CupO’Forex. This is David Frank with your daily video analysis for Friday, October 24.
Today is another busy economic news day as the week should go out with a bang. Markets all week long have been trading, not based on regional news, as we saw positive data out of China and the United States, but based on the bigger global picture. Investors are concerned with the Ebola epidemic as a doctor in New York City tested positive for the virus. They are also concerned with the slowing property market in China. Yesterday, I wrote an analysis on that and China has a lot of tools in their chest to support their property market so there is no need to be seriously concerned here. The fear is a bit irrational at this time.
Today we get gross domestic product (GDP) out of England and we expect that to come in at three percent. The Bank England (BOE) has been pondering raising interest rates over the last several meetings and their Monetary Policy Committee (MPC) is heavily divided there. Later this afternoon the United States releases new home sales. We expect this to meet expectations as the housing market there has been firming up.
Thank you for listening and have a great day and even better weekend!