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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
00:30 Australia Construction Work Done Quarter III 2.1% Revised From 1.6% -2.1% -3.6%
07:00 Switzerland UBS Consumption Indicator October 1.56 Revised From 1.65 1.6
09:30 United Kingdom BBA Mortgage Approvals October 44.8 Revised From 44.5 45.5 45.4
12:00 U.S. MBA Mortgage Applications November 6.2% -3.2%
12:30 United Kingdom Autumn Forecast Statement
The U.S. dollar traded higher against the most major currencies ahead of the release of the economic data from the U.S. The personal consumer expenditures (PCE) price index excluding food and energy is expected to increase 0.1% in October, after a 0.1 rise in September.
Personal income in the U.S. is expected to rise 0.4% in October, after a 0.1% gain in September.
Personal spending in the U.S. is expected to gain 0.3% in October, after a 0.1% rise in September.
The U.S. durable goods orders are expected to increase 1.5% in October, after a 1.2% decline in September.
The U.S. durable goods orders excluding transportation are expected to rise 0.3% in October, after a 0.4% fall in September.
The number of initial jobless claims in the U.S. is expected to decline by 1,000 to 270,000 last week.
New home sales in the U.S. are expected to rise to 500,000 units in October from 468,000 units in September.
The euro traded lower against the U.S. dollar in the absence of any major economic reports from the Eurozone.
The British pound traded lower against the U.S. dollar. The British Bankers' Association (BBA) released the number of mortgage approvals in the U.K. on Wednesday. The number of mortgage approvals increased to 45,437 in October from 44,825 in September. September's figure was revised down from 44,489.
"These statistics show that housing market activity remained strong in October. Consumers remain confident and their incomes are growing. Mortgage rates are at multi-year lows and people are snapping up the very competitive deals being offered by banks," the chief economist at the BBA, Richard Woolhouse, said.
EUR/USD: the currency pair dropped to $1.0578
GBP/USD: the currency pair fell to $1.5054
USD/JPY: the currency pair increased to Y122.73
The most important news that are expected (GMT0):
13:30 U.S. Continuing Jobless Claims November 2175 2164
13:30 U.S. Durable Goods Orders October -1.2% 1.5%
13:30 U.S. Durable Goods Orders ex Transportation October -0.4% 0.3%
13:30 U.S. Durable goods orders ex defense -2%
13:30 U.S. Initial Jobless Claims November 271 270
13:30 U.S. Personal Income, m/m October 0.1% 0.4%
13:30 U.S. Personal spending October 0.1% 0.3%
13:30 U.S. PCE price index ex food, energy, m/m October 0.1% 0.1%
13:30 U.S. PCE price index ex food, energy, Y/Y October 1.3% 1.3%
14:00 U.S. Housing Price Index, m/m September 0.3% 0.5%
14:45 U.S. Services PMI (Preliminary) November 54.8 55
15:00 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) November 90 93.1
15:00 U.S. New Home Sales October 468 500
15:30 U.S. Crude Oil Inventories November 0.252 1
21:45 New Zealand Trade Balance, mln October -1222 -937
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