Date : 27th October 2017. MACRO EVENTS & NEWS OF 27th October 2017. FX News Today European Outlook: Asian stock markets moved mostly higher, led by Japanese stocks, which are heading for another weekly advance on a weaker yen and positive leads from teh U.S. where equities rallied on earnings and increasd hopes for Trump’s tax reform. Australian’s benchmark underperformed and headed south as the government lots its majority following a High Court ruling on the citizenship eligibility of lawmakers. FTSe 100 and U.S. stock futures are higher, but it remains to the seen whether the Eurozone can hold the Dfraghi induced gains from yesterday. And Spanish markets, which outperformed yesterday on reports that Puigdemont may be open to early elections, are likely to retreat again after the Catalan leader backtracked partly and ruled out early elections if Madrid doesn’t stop the process to take over control, thus setting the region on a confrontation course with Madrid, which is expected to get clearance from lawmakers today to directly take over control in the autonomous region. The data calendar is pretty empty today, with only German import prices at the start of the session, as well as French consumer confidence and the ECB’s survey of professional forecasters. FX Action: USDJPY logged a fresh three-month high, at 114.26, making this the seventh up day out of the last nine sessions. EURJPY and most other yen crosses have also been underpinned over this period. The resounding mandate Abe won at Japan’s election of October 15 imparted a downward bias on the yen, as the prime minister’s favoured policy set includes a continued commitment to ultra-accommodative monetary policy, contrasting to the tightening path of the Fed and other central banks. USDJPY has support at 113.60, while the July peak at 114.49 provides an initial target. The year’s high, posted back in January, is at 118.61. Main Macro Events Today US Advanced GDP – Expectations – 2.6% US UoM Consumer Sentiment – Expectations – 100.8 Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Stuart Cowell Senior Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.