- Chinese annual CPI at 1.6% as expected for Oct
- China’s producer prices down by 2.2% y/y in Oct vs. expected 1.9% decline
- Australian home loans down by 0.7% in Sept
- Italian industrial production and euro zone Sentix investor confidence index due
Looks like the Greenback’s having trouble bringing sexy back! The U.S. dollar continued to edge lower to its forex counterparts as the weaker than expected October NFP reading weighed on the currency. EUR/USD is up 0.20% so far at the 1.2475 mark, GBP/USD is holding on to a 0.22% gain slightly above 1.5900, and USD/JPY is looking at a 0.40% loss so far.
The only important release in the past few hours was the Chinese CPI, which came in at 1.6% as expected. Producer prices marked a 2.2% annualized decline though, worse than the expected 1.9% drop and indicative of weaker price pressure down the line. In Australia, home loans showed a 0.7% drop versus the estimated 0.3% decrease. AUD/USD is still up 0.46% though and AUD/JPY is up 0.04%.
Up ahead, the forex calendar shows that data is still light in the London trading session. Only the Italian industrial production and euro zone Sentix investor confidence figures are due, both of which aren’t likely to stir the euro in a strong direction. Do watch out for potential risk-off moves, as the latest reports on Ukraine’s rebel reinforcements are bringing geopolitical tension back on the table.
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