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October in the Markets.

Bank of England Reports Published in October 2019

Credit Conditions Survey – 2019 Q3 – Read the report

This quarterly survey of bank and building society lenders covers secured and unsecured lending to households; and lending to non-financial corporations, small businesses, and to non-bank financial firms.

Machine Learning in UK Financial Services – Read the report

In the financial services industry, the application of machine learning (ML) methods has the potential to improve outcomes for both businesses and consumers.

Bank Liabilities Survey – 2019 Q3 – Read the report

The aim of this quarterly survey of banks and building society lenders is to improve understanding of the role of lenders’ liabilities and capital in driving credit and monetary conditions.

Public Spending ‘to Rocket’ in Next Parliament

From: The BBC

Government spending is likely to head back towards 1970s levels over the next parliament whichever party wins the general election, research suggests.

Think tank the Resolution Foundation said both Labour and the Conservatives were planning big increases in the size of the state.

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US Dollar Falls After ‘Really Significant’ Remark

From: Daily FX

Yesterday’s FOMC rate cut initially brought little bearish impact to the US Dollar. But a comment from FOMC Chair Jerome Powell during the accompanying press conference appeared to take a toll, and USD price action has continued lower ever since. He said that the bank would need to see a ‘really significant’ rise in inflation before hiking rates.

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Pound Poised for Monthly Gain

From: Daily Forex

The Pound Sterling is poised to see its largest single month’s gains in more than 10 years, which analysts are attributing to the drastically reduced risk of a crash out of the EU coupled with a weaker greenback.

According to the latest data, for the month of October, Sterling has appreciated against the US Dollar by more than 5%; the last time the GBP/USD pair experienced a rise of similar proportions was in May 2009.

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Asia-Wide Trade Pact on Course Despite India, Thailand Says

From: Reuters

Asian countries held conclusive talks on what could be the world’s biggest trade pact and there will be an announcement of success at a summit in Bangkok, despite doubts raised by India, the Thai hosts said on Monday. But questions still hung over India’s participation in the China-backed 16-nation Regional Comprehensive Economic Partnership (RCEP), which has been given new impetus by the U.S.-China trade war.

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UK House Prices Edge Up but Brexit Drag Persists

From: Reuters

British house prices, which have almost flat-lined ahead of Brexit, grew a bit more quickly in October, a survey from mortgage lender Nationwide showed.

Nationwide said in October alone, British house prices rose by 0.2%, also slightly stronger than forecasts of no change in the Reuters poll.

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FX Rates in October

GBP/EUR

October GBP vs USD Currency FluctuationsOct High: 1.1629
Oct Low: 1.1114
Oct End: 1.1588

GBP/USD

October GBP vs USD Currency FluctuationsOct High: 1.2873
Oct Low: 1.2204
Oct End: 1.2940

EUR/USD

October EUR vs USD Currency FluctuationsOct High: 1.1166
Oct Low: 1.0888
Oct End: 1.1166