Europe Summary and Highlights 17 October
The USD was generally not much changed in a quiet European morning, making marginal gains against the JPY and CAD and marginal losses against the EUR.
European morning session
The USD was generally not much changed in a quiet European morning, making marginal gains against the JPY and CAD and marginal losses against the EUR. EUR/CHF fell back 10 pips to 0.9390, and there were some gains for EUR/NOK, which gained 2 figures to 11.88, but in general the market was very steady.
Eurozone final September CPI data was revised down to 1.7% y/y from 1.8%, while the August trade surplus was smaller than expected at EUR11bn on a seasonally adjusted basis.
Asia Session
Another solid September labor report from Australia. Not only there is a headline beat of 64.1k employment change, both the unemployment and participation rate improved. It continues to point toward a solid jobs market, which seems to have keep wage momentum going. AUD/USD is trading 0.39% higher at 0.6692, NZD/USD up 0.11% at 0.6063 while USD/CAD rose 0.09%.Regional sentiment is mixed while U.S. three major equity indexes are in the red.
The Japan September trade data has missed estimate with export at -1.7% y/y and import 2.1% y/y. It is a poor report but import continues to grow and suggest there is some underlying strength in consumption. JGB are outperforming U.S. Treasury Yields on Thursday's Asia session. USD/JPY is trading 0.07% lower at 149.51. Else, EUR/USD is down 0.08% and GBP/USD is down 0.04%.