With
yields, the USD, and the oil price dribbling back a little it was a
promising day for regional equities and also ‘risk’ FX. AUD and
NZD rallied, as did GBP and EUR. USD/CAD traed up to 1.3505 before
dropping back to where it began the session around 1.3485.
USD/JPY
traded a little higher, the threat of intervention is holding the
pair back from approaching too closely to 150.
News
flow was very light.
The
data point of focus was Tokyo September CPI, with all three
indications sitting still solidly above the Bank of Japan 2% target,
although on the other hand all three dipped a little from the
previous month’s results.
China
began its long holiday today, markets will be closed there next week.
We will, however, get the National Bureau of Statistics (NBS)
official PMIs for September published over the weekend. Speaking of
the weekend, if you trade Australian markets please note relevant
areas of the country will roll onto daylight saving time on Sunday.
USD/CAD round trip: