Forex Today: Aussie strongest in Asia, UK industrial data – Up next

Forex today was driven by broad based US dollar weakness, as markets continue to unwind the USD longs ahead of the FOMC minutes release this Wednesday. More so, renewed geopolitical tensions between North Korea-US also weighed down on the buck. Most majors benefited from the USD selling, with the Aussie gaining the most, especially after the NAB business confidence improved for Sept and boosted the odds for RBA rate hike in H2 2018.

Among other related markets, the Asian markets traded mixed ahead of the key IMF and World Bank annual meetings and China Communist Party meeting. Meanwhile, commodities’ prices traded mostly higher, with gold inching up closer towards $ 1300 mark.

Main topics in Asia

BOJ's Kuroda - Will continue expanding monetary base until inflation stably exceeds 2%

Comments from Bank of Japan (BOJ) governor Kuroda crossing the wires…

Australia local business conditions rock solid, says NAB

Australian business conditions remained “rock solid” last month though retail conditions are “still a significant concern”, according to NAB.

Fitch: Macro-economic risks in New Zealand remain elevated

In its publication of the "Peer Review: New Zealand Regional Lenders", the US based ratings agency, Fitch ratings, highlighted the following…

New Zealand First Leader Peters - Exporters should be happy with weak NZD post-elections

‘Exporters should be pleased with the decline in the NZD since the election’

Trump may travel to Inter-Korean border next month - Yonhap

South Korea’s state news agency, Yonhap, out with the latest headlines citing that the US President Trump may travel to Inter-Korean border next month.

Key Focus ahead

Markets look forward to the Swiss jobless rate and German trade data ahead of the Europe open, while the UK industrial production data combined with goods trade balance report will be paid close attention to in Europe. Also, focus remains on the ECOFIN meetings, which are usually held in Brussels and attended by Finance Ministers from EU member states.

From the US docket, we have no significant macro news, and hence, all eyes will remain on the Fedspeaks. Markets also await the release of the Canadian housing data, alongside the speech by the BOC Council member Wilkins scheduled later in the NA session.

GBP/USD regains poise, eyes 1.3200 ahead of UK industrial data

The GBP/USD pair found fresh bids once again near 1.3230 region in the Asian trades, as the bulls fight back control, following the release of upbeat UK BRC retail sales data.

EUR/USD - No signs of stress ahead of D-Day in Catalan Crisis

The pullback in the EUR/USD pair from the high of 1.2092 seems to have bottomed out 1.17 levels despite the Catalan crisis.   

Week ahead - Rabobank

"Starting on Tuesday the IMF and the World Bank will hold their annual meetings in Washington where central bankers, finance ministers, prominent officials and economists/strategists/market participants will be discussing various subjects…

US dollar at crossroads ahead of key economic releases

The current week features more US economic releases that will also play a key role in helping to set the tone for both Fed policy and the US dollar going forward.