Last night we had datas releases in Asia session for NZD GDP and AUD employment datas.
NZD had a worse than expected GDP data but same as last one; AUD had really worse employment change but slightly better unemployment rate.
However, both NZD & AUD actually had an up day against all currencies regardless of the low employment change, this could be the effect of risk on sentiment as US & EUROPE equities were all up and possibilities for FED Sep rate hike is now low.
We also had datas from USD. Core retail sales m/m was worse than expected but better than previous; Retail sales m/m was worse than expected and previous; Core PPI m/m was in line with expected and better than previous; PPI m/m was worse than expected but better than previous; Both Philly and Empire state manufacturing index were all better than previous especially Philly Fed index was way above expectation. Unemployment claims were better than expected and slightly worse than previous.
I think the overall picture was the same for USD, the fundamental is stable and growing but not enough for an immediately rate hike, and looking at the charts, USD pairs seem to be indecisive now except versus commodity pairs due to risk on sentiment.
Overall still a good currency to buy but need to be careful for the current sentiment especially the disappointment over Sep rate not hiking.
Both CHF and GBP had the rate decision which were all as expected unchanged.
GBP also had a better than expected retail sales but worse than previous.
CHF is still play the role of safe heaven currency with no significant changes while GBP is acting the same way as USD, no real direction for the immediate future but the fundamental prospective is generally negative.
EUR is another currency that is acting as safe heaven currency and also no significant changes or directions were given.
Finally, JPY had a down day versus all commodity currencies, however, the market actually bought in JPY regardless of the BOJ announcement for further easing and negative rate, because the market has lost faith in whether BOJ has any ability left to really depreciate its currency.
Overall not a very good news for the economy of Japan, but a strength into the YEN.
Tomorrow we have CAD manufacturing sales from Canada and Core CPI and CPI m/m from USD.
The Core CPI data will be important for USD, if we have positive deviation, the rate hike possibility increases and USD will be bought, and vide-versa, if we have negative deviation, USD will be sold but again, fundamentally it is still a good buy to buy USD.
Last night we had datas releases in Asia session for NZD GDP and AUD employment datas.
NZD had a worse than expected GDP data but same as last one; AUD had really worse employment change but slightly better unemployment rate.
However, both NZD & AUD actually had an up day against all currencies regardless of the low employment change, this could be the effect of risk on sentiment as US & EUROPE equities were all up and possibilities for FED Sep rate hike is now low.
We also had datas from USD. Core retail sales m/m was worse than expected but better than previous; Retail sales m/m was worse than expected and previous; Core PPI m/m was in line with expected and better than previous; PPI m/m was worse than expected but better than previous; Both Philly and Empire state manufacturing index were all better than previous especially Philly Fed index was way above expectation. Unemployment claims were better than expected and slightly worse than previous.
I think the overall picture was the same for USD, the fundamental is stable and growing but not enough for an immediately rate hike, and looking at the charts, USD pairs seem to be indecisive now except versus commodity pairs due to risk on sentiment.
Overall still a good currency to buy but need to be careful for the current sentiment especially the disappointment over Sep rate not hiking.
Both CHF and GBP had the rate decision which were all as expected unchanged.
GBP also had a better than expected retail sales but worse than previous.
CHF is still play the role of safe heaven currency with no significant changes while GBP is acting the same way as USD, no real direction for the immediate future but the fundamental prospective is generally negative.
EUR is another currency that is acting as safe heaven currency and also no significant changes or directions were given.
Finally, JPY had a down day versus all commodity currencies, however, the market actually bought in JPY regardless of the BOJ announcement for further easing and negative rate, because the market has lost faith in whether BOJ has any ability left to really depreciate its currency.
Overall not a very good news for the economy of Japan, but a strength into the YEN.
Tomorrow we have CAD manufacturing sales from Canada and Core CPI and CPI m/m from USD.
The Core CPI data will be important for USD, if we have positive deviation, the rate hike possibility increases and USD will be bought, and vide-versa, if we have negative deviation, USD will be sold but again, fundamentally it is still a good buy to buy USD.