FX markets are steady as we kick off another busy day of data – Here’s the story so far

by | October 31st, 2017, 09:07:59 | Economic Data

The data comes think and fast again today

Japan lead the way overnight with a raft of data that was mostly mixed. The BOJ also announced its latest monetary policy decisions, which as expected were all unchanged. The forecasts had pretty much the expected changes to the CPI numbers, Kuroda has been trotting out the same old lines about the economy expanding moderately, and that they’ll keep easing until they hit the 2% price target. He also said that debating an exit strategy would send a wrong message to markets.

USDJPY didn’t do an awful lot as it’s sat mostly between 113.00 and 113.20, with brief, small moves outside of that range either side to 113.25 and 112.95.

Here’s a rundown of some of the other data;

  • UK Oct 2017 GFK consumer confidence -10 vs -10 exp. Prior -9
  • China Oct 2017 NBD manufacturing PMI 51.6 vs 52.0 exp. Prior 52.4
  • Non-manufacturing PMI 54.3 vs 55.4 prior
  • Japan Sep 2017 Construction orders -11.6% vs -10.6% prior y/y
  • Japan Sep 2017 Housing starts -2.9% vs -3.6% exp y/y. Prior -2.0%
  • France Q3 2017 flash GDP 0.5% vs 0.5% exp q/q. Prior 0.5%. Revised to 0.6%
  • Sep 2017 Consumer spending 0.9% vs 0.5% exp m/m. Prior -0.3%. Revised to -0.2%
  • 2.8% vs 1.9% exp y/y. Prior 1.3%
  • HICP flash Oct 2017 1.2% vs 1.1% exp y/y. Prior 1.1%
  • PPI Sep 2017 0.5% vs 0.4% prior m/m
  • 2.1% vs 2.0% prior y/y. Revised to 1.9%
  • Italy Sep 2017 unemployment rate 11.1% vs 11.1% exp. Prior 11.1%
  • Spain Aug 2017 Current account balance 2.62bn vs 2.92bn prior

EURUSD has been sitting comfortably above the 1.1600 handle, between 1.1623 and 1.1650. GBPUSD has been equally quiet between 1.3190 and the old S&R level at 1.3220.

Italian, Eurozone CPI is out at 10 am GMT, as well as EZ GDP and unemployment as we continue a day of price data activity. You can check all the other data that’s been out, and see what’s due by checking out our data and calendar page here.

 

 

Ryan Littlestone
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