US GDP & Personal Consumption data at 8:30AM
NY Opening Forex Commentary: Dr Jekyll and Mr. Hyde markets continue
The Dr Jekyll and Mr Hyde markets continue for the dollar. One day the dollar is up the other down. Today, much worse than expected Retail Sales out of Germany started the move higher for the dollar. Today GDP and end of month will dominate. Next week is the all important FOMC meeting and US elections.
For a look at the market and the key levels to watch through the 8:30 economic data, click on the following video commentary
Eurozone Unemployment 10.1% as expected
Eurozone Unemployment came in at 10.1% as expected. This is a rise from August’s reading of 10.0%.
Australian Private Sector Credit m/m
The market had muted reaction to Australia’s private sector credit which came in at 0.1% versus the survey of 0.3% and prior release of 0.1%. The aussie is currently trading off session lows against the USD.
Japan Industrial Production
Ind. production in Japan came in slightly worse. The details are as follows:
- (m/m) – Survey: -0.6% Actual: -1.9% Prior: -0.5%
- (y/y) – Survey: 12.3% Actual: 11.1% Prior: 15.1%
Yen moved to session lows on the release.
Nomura Manufacturing
Came in at 47.2 ; lower than the forecast of 49.5. The market had a limited reaction to the release.
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