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25 Nov 2013
European open: Subdued day in Europe on light data, dollar bullishness persists
FXstreet.com (London) - US dollar strength continued from last week into the Asian session. AUD/USD dropped 0.63 percent to USD0.9125, helped down by Reserve Bank of Australia governor Glenn Steven’s successful jawboning of the currency last week, confirming that intervention in the currency is a “tool” that the RBA were ready to use.
USD/JPY continues to climb, spurred on to near six-month highs on reduced safety demand on the deal to set term limits for Iran’s nuclear programme. USD/JPY is trading at JPY101.8700, up 0.59 percent.
It’s a quiet data day in the UK and Europe today.
IN the US, the “will they, won’t they?” of second guessing Fed tapering plans will be back in play this week with a slew of economic releases in four day week. The PCE and durable goods orders reports are expected to show a continuation of moderate recovery in the economy, fuelling bets on a possible December tapering of the Fed’s USD85bn-a-month asset purchase programme. Consumer sentiment numbers will also give an interesting insight as to whether concerns still persist from the October government shutdown.
Canada has a busy day ahead, with October CPI and September retail sales numbers scheduled for simultaneous release. Given Canada’s sluggish inflation, the CPI numbers will come under the greatest scrutiny where there is a consensus expectation of a 0.1 percent drop.
USD/JPY continues to climb, spurred on to near six-month highs on reduced safety demand on the deal to set term limits for Iran’s nuclear programme. USD/JPY is trading at JPY101.8700, up 0.59 percent.
It’s a quiet data day in the UK and Europe today.
IN the US, the “will they, won’t they?” of second guessing Fed tapering plans will be back in play this week with a slew of economic releases in four day week. The PCE and durable goods orders reports are expected to show a continuation of moderate recovery in the economy, fuelling bets on a possible December tapering of the Fed’s USD85bn-a-month asset purchase programme. Consumer sentiment numbers will also give an interesting insight as to whether concerns still persist from the October government shutdown.
Canada has a busy day ahead, with October CPI and September retail sales numbers scheduled for simultaneous release. Given Canada’s sluggish inflation, the CPI numbers will come under the greatest scrutiny where there is a consensus expectation of a 0.1 percent drop.