Forex Today: Aus jobs fail to deliver, CPI in focus
The Asian traders showed limited reaction to the Australian jobs data, with the Antipodean keeping the red zone intact below 0.75 handle. While the Kiwi emerged the best performer amid a data-light Asian session. The treasury yields and US dollar continued to trade on the back foot ahead of an action-packed US session today.
We have a busy economic calendar ahead, kicking-off with the UK retail sales data, followed by Eurozone final CPI figures, which will be reported in the EUR calendar. While the ECB minutes, US CPI and housing data will be published in the NA session.
Apart from data, we have ECB and Fed speakers scheduled to deliver the speeches ahead of Fed Chair Yellen’s testimony.
Main topics in Asia
Australian Oct jobs short of expectations, full time employment recovers
Australian Oct employment report came worse-than-expected, with the employment change at +9.8k vs +20k exp and -9.8k prior, with full time job creation at +41.5k vs -53k last.
Statistics New Zealand: We will post a revised release calendar on Friday
Latest headlines crossed the wires from Statistics New Zealand, citing that the data provider will publish a revised economic calendar on Friday.
PBOC weakens USDCNY mid-point again, 10th straight weaker fix
PBOC set USD/CNY mid-point at 6.8692 vs 6.8592, lowering the yuan for the 10th consecutive day, although fixed its below yesterday’s close of 6.8761.
Key focus for the day ahead
EUR/USD better bid around 1.0700 ahead of CPI
The shared currency keeps the bid tone intact versus its American counterpart in the early European morning, now lifting EUR/USD back to 1.07 handle.
EUR/USD: Important issues to watch – Danske Bank
Thomas Harr, Research Analyst at Danske Bank, lists down the important issues which are going to impact the direction of the EUR/USD over the course of time.
UK retail sales and ECB speakers in focus - TDS
Research Team at TDS, suggests that the ECB speakers and UK retail sales will be in focus in today’s European session.
To learn more about this topic, check our video analysis