US Consumer Inflation edges to 1.9% annualized in September
- New Zealand Business Manufacturing index 55.4 vs. 55.1 previously
- Australia MI Inflation expectations 3.5% vs. 3.2%
- Australia employment change -5.1k vs. 7.2k; unemployment rate 6.2% vs. 6.2%
- Australia new motor vehicle sales m/m 5.5% vs. -1.7%
- Japan revised industrial production m/m -1.2% vs. -0.5%
- Japan tertiary industry activity m/m 0.1% vs. 0.0%
- US CPI m/m -0.2% vs. -0.2%; Core CPI m/m 0.2% vs. 0.1%
- US weekly unemployment claims 255k vs. 269k
- US Empire state manufacturing index -11.4 vs. -7.3
Later
- Philly Fed manufacturing index
- FOMC Member Dudley speech
- Crude Oil inventories report
The Asian trading session today got off today with the equity markets staging strong gains across the board. The Nikkei225 was up 1.15%, while the Shanghai Index and the HSI both gained 2.32% and 2.0% respectively. Data from Asia today included the Australian jobs report which saw unemployment steady at 6.2% while the jobless or unemployment change declined -5.1k for the month. The Aussie was little changed on the news but managed to hold its ground across the board. At the time of writing, AUDUSD is down -0.13% for the day after the currency failed to hold on the gains near session highs of 0.735.
The Kiwi continued to gain, rising 0.32% for the day after prices retreated off the highs near 0.68885. There were no major economic releases from New Zealand to support the continued uptrend in NZDUSD.
From Japan, data included the revised industrial production, which fell more than expected for the month by -1.2% while the tertiary industrial activity increased by 0.1%. The Yen was trading weaker since the morning with the USDJPY down -0.10% for the day after USDJPY hit session lows of 118.155.
The European trading session today was quiet with no major economic releases scheduled. The Euro briefly hit session highs of 1.4885 before easing back lower to trade -0.81% for the day. For the GBPUSD, it was the same story as the Cable failed near the highs of 1.5507 and is currently down -0.31% for the day. The European equity markets were also trading stronger today with the German DAX rising 1.60% for the day while the FTSE100 gained 1.10% for the day.
The US trading session saw the release of the consumer inflation data which grew at an annualized pace of 1.9% for the month of September. On a monthly basis, CPI was mixed with the headline inflation falling -0.2%, while the core CPI increased 0.2%. Weekly unemployment claims also increased less than expected at 255k below estimates of 269k. The only weak spot was the US Empire state manufacturing index which declined to -11.4, below estimates of -7.3. The US Dollar took the data in its stride as the Dollar Index surged gaining close to 0.56% for the day. The commodity markets took a tumble as Gold was down -0.48% and Crude Oil was down -0.30% for the day ahead of the weekly Crude oil inventories report.
Later in the evening other data from US include Philly Fed manufacturing index and speech from FOMC member Dudley.
