Article Highlights

  • Japanese core machinery orders rebounded by 4.7% in Aug
  • Japan’s preliminary machine tool orders down from 35.5% to 34.8%
  • Nikkei marked another day in the red at -0.75%
  • Australian employment change down by 29.7K in Sept
  • Australia’s jobless rate up from 6.0% to 6.1%
  • BOE interest rate statement coming up
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Looks like the Greenback’s still getting a heavy beating from its forex rivals! Thanks to the dovish FOMC minutes, the U.S. currency lost further ground in the past few hours. EUR/USD is treading higher around 1.2740 while USD/JPY sank deeper below the 108.00 mark.

Economic data from Japan was mixed, as the core machinery orders showed a stronger than expected 4.7% rebound in August while preliminary machine tool orders slumped from 35.5% to 34.8% in September. The Nikkei ended the trading session on a weaker note, as it chalked up another day in the red with a 0.75% loss for today.

In Australia, the jobs report came in much weaker than expected, as the employment change figure marked a 26.7K decline in hiring versus the projected 17.6K gain for September. The previous month’s reading suffered a huge downgrade from a 121K increase to just 32.1K while the jobless rate ticked up from 6.0% to 6.1%. Aussie pairs initially sold off after the release but AUD/USD zoomed up to test the .8800 handle while AUD/JPY jumped to a high of 95.82 later on.

Coming up, the forex calendar shows that only a couple of medium-tier reports are lined up from the euro zone (German and French trade balance) while the U.K. has the BOE interest rate statement in store. No monetary policy changes are expected for now, but it would be interesting to see whether Carney and his men would stay upbeat.

U.S. Session Recap

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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