EUR/USD falls to 1.1611 and below key near-term levels
It has been a rough time for buyers amid the bounce last week as they have struggled to get above the 38.2 retracement level of the recent downswing around 1.1671 and that seems to be enough for sellers to turn things around currently.

Forex news from the European trading session – 25 October 2021
Headlines:
Markets:
– AUD leads, EUR and CHF lag on the day
– European equities mostly a little higher; S&P 500 futures up 0.1%

Facebook drops in pre-market on the report
The Bloomberg report highlights information from a group of researchers who compiled a report for Facebook’s chief product officer, Chris Cox, reflecting a troubling trend that seems to be accelerating when it comes to the firm’s namesake product.

Bundesbank remarks in its latest monthly report

No major moves in Europe thus far
European indices are faring decently in the morning session so far with no sudden or big moves since the open. The DAX is up 0.2% but the France’s CAC 40 is down 0.1% while Italy’s FTSE MIB is leading gains as it trades up 0.5% currently.

One for the Turkish lira traders. Erdogan hasn’t stopped at sacking senior officials at the central bank.
From earlier this month:
Erdogan said on Saturday that he had told his foreign ministry to expel the ambassadors of

The new tax will be levied on residential and non-residential property, but not to rural residences. 
An earlier pilot scheme was implemented in 2011 in two cities at rates from 0.4% to 1.2% on higher-end housing and second homes, and has not as yet been applied in more cities.

NASDAQ index lower for the second time in three trading days
Next week is the granddaddy of all the earnings release weeks with Facebook, Amazon, Apple, Alphabet, Starbucks, Boeing, Caterpillar, etc. all on the schedule. 

Forex news for North American trading on October 22, 2021
Fed chair Powell speaking on a panel at a BIS conference, tilted his inflation fear little more in the direction of „inflation will last longer than expected“ and „the Fed has the tools“ to combat a higher inflation rate.   

The USDJPY stalled near the swing high from November 2017 and rotated lower
The USDJPY is closing the trading week at/near the week lows. That breaks a string of 5 straight higher weeks for the pair which saw the price move from 109.10 to the high this week at 114.69 (559 pips).