- US ISM manufacturing PMI hits a 2.5-year high in October
- UK BRC retail sales shows 0.6% growth vs. 0.8% previous uptick
- AU retail sales beats expectations, at 0.5% vs. 0.4% expected
- AU current account misses at -12.7B vs. -11.1B AUD expected
- China non-manufacturing PMI at 56.0 vs. 56.3 previous
- RBA interest rate decision on tap
After taking hits early in the U.S. session, the Greenback clawed its way up and dominated its counterparts. The ISM manufacturing PMI’s upside surprise came in while last month’s strong NFP report was still fresh on the investors’ minds. This brought back speculations of tapering, which pushed the dollar higher against the euro, pound, and the yen. Of course, it didn’t help the yen that the BOJ hinted at another round of stimulus.
Will the dollar bulls hustle more muscle today? A few hours earlier we saw mixed data from Australia as well as non-market-moving reports from China. Traders will be watching out for the RBA interest rate decision coming up at 4:30 am GMT. The central bankers aren’t expected to cut its rates some more this month, but it could hint at more easing if they still aren’t satisfied with the Aussie’s strength.
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