- ANZ New Zealand business confidence improved from 13.4 to 26.5
- Japanese preliminary industrial production up by 2.7% in Sept
- U.K. net lending to individuals and mortgage approvals data due
Is risk appetite back on? Higher-yielding currencies seem to be in a good mood lately, as they advanced against the safe-havens in the forex market. AUD/USD is up 0.15% at .8865 while NZD/USD is up 0.25% at the .7930 levels, boosted mostly by an improved business confidence reading.
ANZ reported an increase in business optimism for October, as the index climbed from 13.4 to 26.5. This marked the first gain since the index started falling in February this year, hinting that confidence is starting to pick up in the country.
Meanwhile, Japan reported a 2.7% increase in preliminary industrial production for September, stronger than the estimated 2.3% rise and enough to make up for the 1.9% decline in the previous month. Instead of giving the yen a boost though, this report fueled risk appetite further, pushing EUR/JPY up by 0.03% at 137.70 and GBP/JPY up by 0.04% at 175.0.
For the London trading session, the forex calendar indicates that only a couple of medium-tier reports are due from the United Kingdom, namely the net lending to individuals and mortgage approvals data. This might not be enough to spur strong price trends though, as forex traders seem to be sitting tight ahead of the FOMC statement during the U.S. session later on.
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