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The European session did not see strong moves and the markets were waiting for the retail sales from the US as well which came in better than expected.
The Eurozone economy grew 2.2% on quarter in the three months to September of 2021, beating 2.0% expected and 2.2% previous, the first estimate showed on Friday. Annually, the eurozone GDP rate expanded by 3.7% in Q3 vs. 14.3% seen in the second quarter of 2021 while beating 3.5% expectations. Seasonally adjusted Gross Domestic Product increased by 2.2% in the Eurozone and by 2.1% in the EU on a quarterly basis in the third quarter. Annually, the euro area economy expanded by 3.7% in the same period, matching expectations.
US Retail Sales rose by 1.7% MoM in October, according to data published by the US Census Bureau revealed on Tuesday. That was above market expectations for a MoM rise of 1.2% and above the (upwardly revised from 0.7%) 0.8% MoM gain seen in September.
The Turkish lira fell by about 0.8 percent on Tuesday to a new record low of 10.14 against the dollar, weighed by expectations of another interest rate cut from the central bank this week.
