OIL: Oil Remains Flat Ahead of OPEC+ Meet

• Powell says they're watching corporate layoff announcements "very carefully", as "it could absolutely have implications for job creation. We don't really see it in the in the initial claims data yet."

• Asked "Do you worry at some point you're going to have to start making policy by anecdote?", Powell says "We're going to collect every scrap of data we can find, evaluate it, and think carefully about it...If you ask me, could it affect the the the December meeting? I'm not saying it's going to, but yeah, you could imagine that. You know... if you're driving in the fog, you slow down. I don't know how that's going to play into things. The data may come back, but there's a possibility that it would make sense to be more cautious about moving. I'm not, you know, I'm not committing to that. I'm just saying it's sort of a possibility that you would say, we really can't see, so let's slow down."
• Powell namechecks a few private-sector providers of inflation data: "Pricestats, Adobe, and others, for wage inflation", "ADP data on spending"... as well as the Beige Book.

• RES 4: 0.8865 1.764 proj of the Sep 15 - 25 - Oct 8 price swing  
• RES 3: 0.8848 1.618 proj of the Sep 15 - 25 - Oct 8 price swing  
• RES 2: 0.8835 High May 3 2023
• RES 1: 0.8818 High Oct 29
• PRICE: 0.8806 @ 16:08 GMT Oct 29
• SUP 1: 0.8751 High Sep 25  
• SUP 2: 0.8710 20-day EMA 
• SUP 3: 0.8688 50-day EMA
• SUP 4: 0.8656 Low Oct 8 and a key support  

A bull trend in EURGBP remains intact. Tuesday’s strong gains resulted in a clear break of resistance 0.8769, the Jul 28 high and a bull trigger. This, together with today’s extension, confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. The 0.8800 handle has been cleared, sights are on 0.8835, the May 3 2023 high. Initial support lies at 0.8751, the Sep 25 high.