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USD Recedes in Asia, Local Data in Focus

FOREX
The US dollar is giving back some of the upside seen through Monday's European and U.S. sessions, weakening against most crosses.
  • AUD/USD last up around 0.16% at 0.7355, just shy of yesterday's peak. The pair awaits the RBA rate announcement later in the session. The bank is expected to keep policy on hold. Data so far in the session has failed to exert an effect on AUD, ANZ-Roy Morgan weekly consumer confidence hit the highest level since February, while net exports will subtract 2.0% from the Q3 GDP reading, vs. expectations of -1.7%.
  • USD/JPY is flat on the session at 104.34, comments from Chief Cabinet Sec. Kato didn't touch on major policy matters, while data from the region also failed to move the needle.
  • Yuan has strengthened modestly against the greenback in the Asia session, USD/CNH last down some 0.8% at 6.5798. The PBOC fixed USD/CNY at 6.5921, once again showing little deviation vs. sell-side model estimates, while there was little movement on the back of the latest Caixin manufacturing PMI reading.
  • Fed's Kaplan spoke briefly during the session, the Dallas Fed president kept to the script and said that the next 3-6 months will be difficult but expects growth in Q4 and Q1. DXY last down 0.1% from previous close at 91.90.
  • GBP/USD is up around 0.17% at 1.3347 after dipping during US hours yesterday. The pair is supported by positive sounding Brexit comments from Ireland's Prime Minister Martin
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities

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