Major
FX rates tracked subdued ranges during the session here with traders
content to wait on the latest inflation indication data due from the
US later today (US core PCE coming up at 8.30 am US Eastern time).
Following
on from the European Central Bank decision and Lagarde’s news
conference on Thursday the EUR ate around 1.0560 vs. the USD. USD/JPY
dribbled down a little and is just under 150.20 as I post. It hasn’t
added to its highs seen above 150.70 on Thursday.
From
Australia we had PPI data for Q3 showing a solid +1.8% q/q rise after
just +0.5% in Q2. The Australian Bureau of Statistics cited
broad-based price increases in services as one driver, which will
give the Reserve Bank of Australia something else to consider heading
into the November 7 meeting. AUD/USD ticked up above 0.6340.
Oil
has risen on the session, up around a dollar (WTI, CL futures).
China’s
September industrial profits came in at a solid rise of 11.9% y/y.
In
news unrelated to FX, China’s former Premier Li Keqiang has died at
68. RIP.