Currency Analyst since 2010

Oct. 31: Asian session

EUR/USD declined to $1.3700. The greenback remains higher versus euro before US data forecast to show jobless claims decreased. The Fed maintained monetary stimulus yesterday saying in a statement it saw “improvement in economic activity and labor market conditions.”  Today watch for German retail sales and German GfK consumer climate at 07:00 GMT, French consumer spending at 07:45 GMT, euro zone inflation and unemployment data at 10:00 GMT. The US will release unemployment claims data at 12:30 GMT and Chicago PMI at 13:45 GMT. GBP/USD is trading on the downside just above $1.6000 after it tested $1.5988.

USD/JPY slid to 98.30 after it reached 98.67 yesterday. Yen advanced after the Bank of Japan left monetary policy unchanged. The BOJ will issue a semi-annual report on the economy and prices, which will include fresh long-term growth prospects, at 06:00 GMT, followed by a news conference by Governor Haruhiko Kuroda at 06:30 GMT. USD/CHF is trading a bit above 0.9000 after it reached 0.9024.

AUD/USD is trading just under $0.9500 after it found support in the $0.9460/40 area. Aussie bounced after surprisingly strong housing data showed record-low interest rates were helping the economy gain traction, lessening the need for further easing. NZD/USD is trading on the downside, in the $0.8250 area, after it spiked down to a 6-week low at $0.8193 yesterday. New Zealand’s dollar declined, but stayed above the recent minimum after the Reserve Bank of New Zealand reiterated it was likely to hike interest rates next year. USD/CAD is trading at 1.0485 after it almost reached 1.0500. Canada will release GDP figures at 12:30 GMT.

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