USD
Yesterday evening the Federal Reserve announced it will stop its six-year-old
QE program which strengthened the Dollar against a basket of currencies and by
over a percent against the Pound. In three rounds of QE, the Fed bought
trillions of dollars of mortgage and US treasury bonds from banks and hedge
funds to keep interest rates at zero. 

With the stimulus package coming to an end, it will result in the Federal

USD
Yesterday evening the Federal Reserve announced it will stop its six-year-old
QE program which strengthened the Dollar against a basket of currencies and by
over a percent against the Pound. In three rounds of QE, the Fed bought
trillions of dollars of mortgage and US treasury bonds from banks and hedge
funds to keep interest rates at zero. 

With the stimulus package coming to an end, it will result in the Federal
Reserve not buying any more of these bonds. All eyes will now move over to
speculation surrounding the US Interest rate rise which is likely to happen
sooner rather than later simply due to it currently being on 0.25%. Also,
consumers in the US buying goods have had long enough to utilise the low
interest levels as well as companies who may have needed to refinance their
debts, have had six years to do this. 

GBP
In the UK yesterday we had figures which showed a fall in the number of working
households. The percentage of households where no adults work has declined to
the lowest level since records began, according to the Office for National
Statistics.The ONS showed that 1.5m children are living in workless households,
a fall of 132,000 or 15.9% fall. Of the regions in England and countries
of the UK, the North East had the highest percentage of workless households at
21.2%, while the South East had the lowest at 12.3%. The percentage of
households in which no adult has ever worked was 1.5%, the same as a year
earlier.

Key Announcements:
08:55 EUR: German unemployment rate (Oct)expected to remain at 6.7%
14.30 USD: Q3 US GDP figures from Q3 expected to fall
from 4.6%  to 3%.
13:00 EUR: German consumer price index (Oct) expected to rise
to  0.9% from 0.8%.

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