US Dollar (.DXY) Down Vs All Peers

US Dollar (.DXY) Down Vs All Peers

The US Dollar (.DXY) Index fell 0.37% to 96.92 recovering some early losses during the session Friday.

US Economic Reports for Friday 30 October

1. September US Personal Income: Actual +0.1%, consensus +0.2%, Prior +0.4 (revised from +0.3%)
2. September US Personal Spending: Actual +0.1%, consensus +0.2%, Prior +0.4%
3. September PCE Prices – Core: Actual +0.1%, consensus +0.1%, Prior +0.1%
4. Q-3  US Employment Cost Index: Actual +0.6%, consensus +0.5%, Prior +0.2%
5. October Chicago PMI: Actual 56.2, consensus 49.0, Prior 48.7
6. October Michigan Sentiment (MSI)– Final: Actual 90.0, consensus 92.6, Prior 92.1

I. EUR/USD: +0.15% to $1.1006

1. The Eurozone’s unemployment rate fell to 10.8% in September, its lowest level since January 2012. The August reading was revised down to 10.9% from 11.0%
2. The Eurozone’s headline consumer price index was flat Y-Y  in October, falling short of economists’ expectations
3. Core prices in the Eurozone were flat in the year to October, missing expectations, but beating the 0.1% fall in September
4. German retail sales were flat in the month to September, badly missing analyst estimates. August’s print was revised down to -0.7% from -0.4%
5. The Spanish economy grew 0.8% Q-Q in Q-3, according to preliminary data. The growth was in line with estimates but worse than the 1.0% growth from Q-2. Record spending by tourists supported the gain

II. GBP/USD: +0.73% to $1.5435

III. USD/CHF: -0.15% to 0.9880

1. Switzerland’s KOF Leading Indicators fell to 99.8 in October, missing expectations. The index printed a downwardly-revised 100.3 in September

IV. USD/JPY: -0.19% to 120.72

1. The Bank of Japan sat on its hands today and did not announce further monetary easing, as roughly half of analysts had expected. The BOJ current buys $665-B of assets per year (JPY 80-T)
2. The current round of unconventional monetary easing began in April of Y 2013 and failed to achieve its stated goal of getting inflation up to 2% within 2 years
3. The central bank now says that it aims to reach that target between October 2016 and March 2017
4. The bank continues to express confidence in its policy, but it has downgraded its growth and inflation forecasts for the year to April 2016 to 1.2% and 0.1%, respectively
5. Household spending in Japan unexpectedly fell 1.3% M-M in September, reversing a 2.5% spike in August

V. USD/CAD: -0.70% to 1.3070

VI. AUD/USD: +0.73% to $0.7136

1. Australia’s producer price index grew grew 0.9% Q-Q in Q-3 after climbing just 0.3% in Q-2
2. Private sector credit grew a better-than-expected 0.8% M-M in September after growing 0.6% in August

VII. NZD/USD: +1.16% to $0.6777

1. Building consents in New Zealand unexpectedly fell 5.7% M-M in September. Consents declined 4.9% in September

VII. USD/RUB: -0.89% to 63.62

1. The Bank of Russia kept its main policy rate at 11.0% in light of substantial inflation risks. About 50% of analysts expected a 50 bpt cut
2. The bank said in its statement that as inflationary pressures ease, it will stand ready to provide more monetary accommodation

Have a terrific weekend.

HeffX-LTN

Paul Ebeling

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