EUR/USD unchanged around 1.0980 post-ECB
EUR/USD kept the composure following the ECB?s rate decision today, currently hovering over the comfort zone around 1.0980.The pair remained mostly apathetic after the Governing Council of the European Central Bank left its monetary stance unchanged at today?s meeting.In fact, the central bank left the interest rate on the main refinancing operations at 0.00%, the interest rate on the marginal lending facility ay 0.25% and the deposit facility at -0.40%.Later in the session, market participants will shift their attention to the usual press conference by President Mario Draghi. Consensus among investors sees the likeliness of a dovish message by Draghi today, paving the way for extra downside of spot.The pair is now gaining 0.06% at 1.0981 facing the next hurdle at 1.1002 (7-month resistance line) followed by 1.1029 (high Oct.18) and then 1.1055 (4-month resistance line). On the other hand, a breakdown of 1.0950 (low Jul.27) would target 1.0909 (low Jun.24) en route to 1.0820 (low Mar.10).

GBP/USD consolidating disappointing UK retail sales-led downslide
The GBP/USD pair was seen consolidating disappointing retail sales-led weakness and remained well offered near session low around mid-1.2200s. After yesterday's failed attempt to build on to its recovery momentum above 1.2300 handle, the pair came under fresh selling pressure after UK monthly retail sales figure showed no growth in consumer spending during the month of September. Moreover, the greenback, as measured by the overall US Dollar Index, continued gaining traction amid optimism led by increasing possibilities of an eventual win for Hillary Clinton at the upcoming US Presidential election in November after the third and final US presidential debate. Next in focus would be ECB monetary policy decision and comments from ECB President Mario Draghi, at the subsequent press conference, which would drive broader sentiment surrounding the greenback and eventually provide impetus for the GBP/USD traders. Traders will also confront the release of US economic data that include - Philly Fed manufacturing index, weekly jobless claims and existing home sales data later during NA trading session.On a sustained weakness below 1.2250 immediate support, the pair is likely to head back towards a short-term ascending trend-channel support near 1.2200-1.2190 region. On the upside, 1.2300 handle remains immediate strong hurdle, which if clear seems to boost the pair towards 1.2330 resistance. This 1.2330 level is likely to cap any further up-move, while a decisive move above this strong resistance would negate any near-term bearish bias and open room for further near-term appreciating move for the pair.

USD/CAD inter-markets: targets 1.32 on bullish DXY, falling VIX?
USD/CAD pair witnessed sharp-moves over the last 24 hours, having staged a solid V-shaped recovery from 1.30 handle to move back beyond 1.3150 levels. The major is last seen exchanging hands near 1.3160 levels, recording a +0.35% gain on the day.The major plunged almost 1 big figure in a knee-jerk reaction to BOC?s unchanged monetary policy decision, but quickly reversed lost ground and extended the rebound as markets viewed the BOC decision as outrightly dovish, after Governor Poloz announced that they "actively discussed" more stimulus. The bank also lowered its growth and inflation forecasts, which also collaborated to the sharp reversal witnessed in the USD/CAD pair. However, today?s extension of the upmove is based on three key catalyst, first being renewed broad based US dollar strength, backed by Clinton?s win at the final US presidential election debate.While the second intrinsic is the extended sell-off in the VIX futures (CBOE volatility index), a risk barometer, which suggests risk-on trades persisting in markets, bolstering the demand for higher-yielding currencies. Further, tumbling oil prices also exacerbated the pain in the resource-linked Loonie, pushing the USD/CAD pair towards 1.32 handle.Looking ahead, the major will take cues from the upcoming US economic releases, while the ECB decision is likely to hog the spotlight today. Besides, Friday?s Canadian CPI and retail sales data will provide fresh impetus on the CAD, thereby, shaping up next direction in the spot.

AUD: $0.7700 is proving to be quite a formidable cap - BBH
Research Team at BBH, suggests that the $0.7700 is proving to be quite a formidable cap in the Australian dollar. ?It finished the North American session above there, spurring talk of a breakout. However, a disappointing jobs report has seen the Aussie reverse lower. This is potentially important price action. Initially, it had risen through yesterday's high and had subsequently been sold through yesterday's lows. A close below yesterday's low (~$0.7660) could be regarded technically as a key reversal. A break of $0.7650 could spur an initially move toward $0.7600, and perhaps $0.7500. For the record, Australia lost 53.0k full-time positions and grew 43.2k part-time jobs. The unemployment rate, slipped to 5.6% from a revised 5.7%, while the participation rate unexpectedly fell to 64.5% from 64.7%. The net job loss of 9.8k contrasts with median expectations of a 15.0k gain. Adding insult to injury, the August job loss was revised to 8.6k from a 3.9k drop.?

Eurozone current account surplus widened in August - ING
Bert Colijn, Senior Economist at ING, suggests that the increased current account surplus is likely more of an indication of weak domestic demand growth than of a strong export position for the Eurozone.?The widening current account surplus is a welcome sign for Eurozone growth as the summer months showed concerning developments from a trade perspective. The first two months of post-Brexit trade have shown cautious improvements in nominal exports, while imports have declined. This means that the ?Brexit-effect? remains subdued for now. This is not just a positive though, the widening gap is mostly because of weakening Eurozone domestic demand growth, which has lowered imports this summer.As these are nominal data and prices are rather volatile, it could well be that the net export picture for GDP will look somewhat different. Import prices ticked down in August, indicating that the overall contribution of net exports to GDP could come in lower than the nominal data indicate.While this August reading of the current account seems positive from a growth perspective, the trade environment for the Eurozone remains weak. A worst case scenario would be that the coming months show a race to the bottom between exports and imports to determine the net contribution to GDP. As domestic demand in the Eurozone is weakening under higher oil prices and slower unemployment declines, imports are likely to continue to suffer and exports are under pressure from a turbulent trade environment. All in all, this is in line with somewhat weaker GDP growth in the last months of 2016.?

WTI slips to session lows near $51.20
After climbing to fresh 2016 highs in levels just below the $52.00 mark per barrel on Wednesday, the West Texas Intermediate has now receded towards the $51.30/20 band.Crude oil prices are giving away part of the recent advance to fresh YTD peaks near the $52.00 handle today following a profit taking sentiment and a pick up in the demand for the US dollar.The recent draws in crude oil inventories reported by the API on Tuesday and EIA on Wednesday have collaborated with the upside momentum around crude oil prices so far this week, although the up move seems to have run out of steam near $52.00.In the meantime, the stronger greenback and scepticism around the deal to freeze oil output at the next OPEC meeting in Vienna remain the exclusive driver behind the price action of crude oil.It is worth recalling that according to the latest CFTC report, WTI speculative net longs have reached levels last seen in July 2014 above 413K contracts during the week ended on October 11. Back to the day, the WTI was trading above the $100 mark per barrel.At the moment the barrel of WTI is retreating 1.14% at $51.23 and a breach of $49.15 (low Oct.10) would expose $49.10 (20-day sma) and finally $46.71 (55-day sma). On the other hand, the next up move aligns at $51.93 (2016 high Oct.19) followed by $53.89 (high Jul.10 2015) and then $62.58 (high May 6 2015).

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