North American Summary and Highlights 14 October
Overview - In a quiet day the USD was mostly firmer, the gains coming largely before less dovish remarks from Fed’s Waller.
North American session
In a quiet session with bonds closed for Columbus Day the USD opened firm but USD/JPY could not quite reach 150 while EUR/USD nudged marginally below 1.09. The USD saw a brief dip after equities opened firm though this only held for AUD/USD, which rose to .6720 from .67 and GBP/USD, which rose to 1.3050 from 1.3030.
The only news of the day was afternoon comments from Fed’s Waller, who said the Fed should proceed with more caution on rate cuts. The USD ticked up briefly on the comments but USD/JPY again failed to break 150 and then moved down to 149.75. EUR/USD edged back above 1.09 and a move in USD/CAD above 1.38 was also corrected.
European morning session
USD/JPY gained 20 pips to 149.40 in the European morning, while EUR/USD was slightly firmer at 1.0930, with EUR/GBP also gaining slightly to move above 0.8370. Commodity currencies were weaker, with AUD/USD losing 15 pips to 0.6725 and USD/CAD gaining 20 pips to 1.3795. EUR/CHF gained20 pips to touch 0.94.
There was no news of any real note, with the only data being Swiss PPI, which fell 0.1% in September.