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M3 Money Supply increased to 5.3%

Thursday, Nov 26 2015
The annual growth rate of the broad monetary aggregate M3 increased to 5.3% in October 2015, from 4.9% in September, averaging 5.1% in the three months up to October. No change was expected. The components of M3 showed the following developments. 
 The annual growth rate of the narrower aggregate including currency in circulation and overnight deposits (M1) stood at 11.8% in October, compared with 11.7% in September. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was less negative at -4.3% in October, from -4.7% in September. The annual growth rate of marketable instruments (M3-M2) increased to 3.4% in October, from 0.7% in September. 
 
Euro is currently being traded around 1.0610 area. Pair is likely to find support around 1.0570 handle and resistance above 1.0650 level. There will be no major data releases later today, with US banks being closed due to Thanksgiving.
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