4 Nov 2013
Session recap: Tapering talk boosts DXY and Chinese and Aussie data heats up
FXstreet.com (Barcelona) - The new week started out with a little pop for risk assets thanks to Chinese data that surprised on the upside over the weekend. That positive vibe picked up some momentum when Australian retail sales surprised to the upside. Only a Fed-induced rising Dollar kept a lid on gains in risk assets for the time being.
Chinese data gives a boost to the idea that global growth may be OK
Chinese Non-Manufacturing PMI came in at 56.3 versus last month’s reading of 55.4. That increase was welcomed by hopeful risk bulls who gapped up the risk currencies like the Aussie Dollar a nice boost to start the week.
Australian data – especially retail sales – adds fuel to the fire
There were several minor data points out of Australia early Monday that netted out just about neutral. However, the retail sales data out of the “Land Down Under” provided an extra upside boost for the Aussie currency and provided a tailwind for other countries’ currencies in the region.
US Fed’s Fisher hits the wires with hawkish comments – further lifting the already buoyant DXY
Headlines featuring hawkish comments from the US federal Reserve’s Richard Fisher hit the wires early Monday – re-igniting the DXY-bullish fire that raged last week. Phrases like “….resume “normal” policy as soon as possible” have put more pressure on crosses like the EUR/USD and GBP/USD.
Main headlines in Asia
China's services industry picks up further in October
Chinese premier warns slowing growth raises job concerns
CFTC indicates specs kept decreasing exposure on USD - TDS
Will the ECB send a dovish message?
TD securities Australian inflation index unchanged 2.1%y/y
Much better-than-expected Australian retail sales
EUR/USD: Stops below 1.3450 have been triggered
Fed's Fisher points finger at US government for sluggish recovery
Chinese data gives a boost to the idea that global growth may be OK
Chinese Non-Manufacturing PMI came in at 56.3 versus last month’s reading of 55.4. That increase was welcomed by hopeful risk bulls who gapped up the risk currencies like the Aussie Dollar a nice boost to start the week.
Australian data – especially retail sales – adds fuel to the fire
There were several minor data points out of Australia early Monday that netted out just about neutral. However, the retail sales data out of the “Land Down Under” provided an extra upside boost for the Aussie currency and provided a tailwind for other countries’ currencies in the region.
US Fed’s Fisher hits the wires with hawkish comments – further lifting the already buoyant DXY
Headlines featuring hawkish comments from the US federal Reserve’s Richard Fisher hit the wires early Monday – re-igniting the DXY-bullish fire that raged last week. Phrases like “….resume “normal” policy as soon as possible” have put more pressure on crosses like the EUR/USD and GBP/USD.
Main headlines in Asia
China's services industry picks up further in October
Chinese premier warns slowing growth raises job concerns
CFTC indicates specs kept decreasing exposure on USD - TDS
Will the ECB send a dovish message?
TD securities Australian inflation index unchanged 2.1%y/y
Much better-than-expected Australian retail sales
EUR/USD: Stops below 1.3450 have been triggered
Fed's Fisher points finger at US government for sluggish recovery