Free Trial

Consolidation was the buzz word during the....>

FOREX
FOREX: Consolidation was the buzz word during the Asia-Pacific session, the
dollar was broadly unchanged against its peers from yesterday's close in New
York. Dollar-yen dropped initially from Y113.20 to Y112.97 before meeting
demand. The dollar then posted a fresh high of Y113.28 shortly after the BoJ
policy announcement. Although remaining firmly on hold, the BoJ did lower
slightly their inflation forecasts, core CPI for 2017/18 is now expected at 0.8%
from 1.1% in July, 2018/19 now 1.4% from 1.5% projected in July. Dollar-yen was
last Y113.16, not too far from this morning's open. Euro-dollar consolidated
towards the highs seen yesterday and held a $1.1633 to $1.1653 range.
Aussie-dollar initially traded firmer to $0.7699, but turned lower to $0.7673 on
weaker local data and softer-than-expected China PMI. Kiwi-dollar dropped from
$0.6882 to $0.6838, macro names were said to selling kiwi crosses following weak
NZ business confidence and building approval data. Meanwhile, Cable held a
$1.3193 to $1.3215 range, held hostage to $1.3200 option expiries for today.
French Q3 GDP and European inflation data provide the event risks for the
session ahead. 

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.