- German final CPI down by 0.6%
- Weak Australian jobs data weighs on AUD pairs
- Nikkei posts 1.79% loss for the day
- Swiss PPI, ECB monthly bulletin up for release
Other than the Australian jobs bloodbath, there were hardly any reports released during today’s Asian trading session. After the initial selloff, AUD/USD settled around the .8950 area while AUD/JPY fought to stay above the 91.00 mark in the past few hours.
Germany printed its final CPI reading for January and showed a 0.6% decline in price levels, unchanged from the initial estimate. The ECB monthly bulletin is up for release in today’s London session but this isn’t expected to make a huge impact on the euro.
Also due in the next few hours is the Swiss PPI report, which might show a 0.1% decline in producer price levels. This would follow the previous month’s flat reading, indicating that downward pressure on overall consumer price levels could be expected. A weaker than expected reading might weigh on the franc, as traders are already concerned about potential deflation in Switzerland.
With barely any major reports lined up in today’s London trading session, currency pairs might be in for a bit of consolidation as traders await the release of the U.S. retail sales reports later on.
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