Europe Summary and Highlights 31 October

European morning session

The USD was generally a little softer through the European morning. EUR/USD gained around 10 pips to 1.0865 helped by stronger than expected German retail sales data for September and a confirmation of a higher than consensus rise in Eurozone preliminary CPI in October, with the core rate holding at 2.7% y/y.

There were similar small gains for GBP and the JPY, with the JPY gains coming on he back of what were seen as mildly hawkish comments from Ueda after the BoJ meeting. However, AUD/USD fell around 10 pips to 0.6565, and the CAD and NOK were also weaker, helped by the softer tone to equities. But EUR/CHF continued to make gains, rising to a high of 0.9413 after opening at 0.9390.