U.S Existing Home Sales which measures the change in the annualized number of existing residential buildings that were sold during the previous month rose unexpectedly to 4.97M in October from 4.90M in September, as published in a report of the National Association of Realtors on Monday. On the other hand, Canadian wholesale sales rose less-than-expected in September by 0.3%.
Chinese vice Premier Wang Qishan, said over the weekend that his expectations that the global economy is headed for a prolonged global downturn, which will have negative applications on the Chinese’s economy and he added that the world is likely to experience a prolonged recession, and he described the outlook as 'extremely severe'. Moreover, concern over declining property investment and slowing overseas demand for exports will affect the china’s economic growth heavily impacted on the stocks market as the benchmark index fell for a fifth day.
The euro zone's debt crisis remains at the center of attraction despite the clear-cut election victory in Spain for conservatives committed to tougher austerity. After, Portugal, Ireland, Italy and Greece, Spain's Socialists became the fifth government in the 17-nation single currency area to be affected the debt crisis this year. According to Nomura Holdings Inc., euro will drop by the end of the year as the region’s sovereign-debt crisis deepens, pressuring investors who have hold up the currency by repatriating assets to rethink their strategy and added that The inflows may not continue to be so strong as rising bond yields in Italy and Spain increase concern about contagion in the region and damp investor appetite for European assets.
EUR/USD:
The pair continues to remain under pressure as borrowing costs remained high across Europe and the weakening of the economic outlook in Euro Zone. EUR/USD a fresh session lows at 1.3466 earlier this morning and trend of the pair indicates that additional decrease can be expected during trading the European trading session today. The first support target might be situated at 1.3350 and the second support target might be found at 1.3140 if the currency continues is bearish. The resistance level is at 1.3615.
GBP/USD
The British Pound was lower against the U.S. Dollar on Monday after the release of U.S. data on Existing Home Sales and is continuing it decreasing momentum today. The Pair gave up more than 500pips since the beginning of November. Investors sentiments on the pair remains bearish following the deepening European debt crisis and the pair is likely to continue its falling trend yet again. The current support level is at 1.5610 but if the pair broke this support level then the next support level might me at 1.5337. The resistance level is at 1.6128. 
USD/CHF
The pair opened the Asian trading session on positive ground and the latter peak at a session high of 0.9184. The overall outlook remains to the upside still targeting 0.9230 during today’s session. The Immediate support remains around 0.9100 and the resistance in the last few days and need a clear break and daily close above that area to continue the bullish pressure testing 0.9236 area.
WTI
Oil
: Yesterday, Oil traded near the lowest price in more than a week in New York as investors speculated that stockpiles are rising in the U.S. and European demand will fall as the Bundesbank said Growth in Germany, Europe’s largest economy, may slow next year. The commodity is currently trading at $96.99 a barrel and we might see decreases later during the day.
S&P500
U.S. stocks slumped, giving the Standard & Poor’s 500 Index its longest decline since September, amid concern the U.S. government will be forced to submit to $1.2 trillion in automatic spending cuts. The Index is currently trading in narrow range of 1179.89 and 1208.37 points.