Currency Analyst since 2010

Oct. 28: Asian session

EUR/USD is trading in the $1.3800 area, below 2-year high $1.3832 set last week, before the Fed begins a 2-day meeting tomorrow and economists predict that the central bank will refrain from tapering stimulus. The US will release industrial production data at 13:15 GMT and pending home sales figures at 14:00 GMT. GBP/USD is trading in the $1.6170/80 area below the recent highs at $1.6250. Britain will release CBI realized sales at 11:00 GMT.  

USD/JPY opened the week with a gap higher at 97.60 and is quietly trading around this figure. Japan is scheduled to release a bunch of important data tonight (retail sales, household spending and unemployment rate). USD/CHF is trading a bit on the upside in the 0.8940 area, above support at 0.8890.

AUD/USD moved a little lower after having strengthened to $0.9620. RBA Governor Glenn Stevens is scheduled to speak today at 22:30 GMT. NZD/USD touched $0.8315 before returning below $0.8300. There is some speculation on the market that RBNZ could raise interest rates on the meeting on Wednesday. USD/CAD tested 1.0428 after easing down a bit from Friday’s high at 1.0460.

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