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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
00:00 Australia RBA Assist Gov Kent Speaks
01:30 Australia RBA Meeting's Minutes
05:30 Japan BOJ Governor Haruhiko Kuroda Speaks
08:30 United Kingdom Retail Price Index, m/m August -0.1% +0.5% +0.4%
08:30 United Kingdom Retail prices, Y/Y August +2.5% +2.5% +2.4%
08:30 United Kingdom RPI-X, Y/Y August +2.6% +2.5%
08:30 United Kingdom Producer Price Index - Input (MoM) August -1.6% -0.2% -0.6%
08:30 United Kingdom Producer Price Index - Input (YoY) August -7.3% -6.6% -7.2%
08:30 United Kingdom Producer Price Index - Output (MoM) August -0.1% -0.1% +0.1%
08:30 United Kingdom Producer Price Index - Output (YoY) August +0.9% +0.9% +0.9%
08:30 United Kingdom HICP, m/m August -0.3% +0.4% +0.4%
08:30 United Kingdom HICP, Y/Y August +1.6% +1.5% +1.5%
08:30 United Kingdom HICP ex EFAT, Y/Y August +1.8% +1.8% +1.9%
The U.S. dollar traded mixed to higher against the most major currencies on speculation the Fed will start to hike its interest rate sooner than expected. Market participants are awaiting the Fed's interest rate decision on Wednesday.
Market participants expect the Fed will cut its asset purchase program by another $10 billion.
The New Zealand dollar traded lower against the U.S dollar in the absence of any major economic reports from New Zealand. Market participants are awaiting Wednesday morning's dairy auction on Fonterra's online platform, GlobalDairyTrade.
The Australian dollar dropped against the U.S. dollar after the release of the Reserve Bank of Australia's meeting minutes. The Reserve Bank of Australia reiterated it will keep interest rates unchanged for an extended period of time. The central bank added the Aussie is "above most estimates of its fundamental value".
The RBA also said "housing prices were continuing to increase in the larger cities".
The RBA assistant governor Christopher Kent said at the Bloomberg Economic Summit in Sydney on Tuesday that the weaker Aussie provides would support local business.
The Japanese yen traded mixed against the U.S. dollar in the absence of any major economic reports from Japan.
The Bank of Japan (BoJ) Governor Haruhiko Kuroda said at a meeting of business leaders in the Kansai region today that the BoJ will add fresh easing measures if needed to achieve its 2% inflation target. Mr. Kuroda added Japan's economy will continue to recover moderately and the inflation target of 2% will be achieved as expected.
EUR/USD: the currency pair traded mixed
GBP/USD: the currency pair fell to $1.6212
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
09:00 Eurozone ZEW Economic Sentiment September 23.7 21.3 14.2
09:00 Germany ZEW Survey - Economic Sentiment September 8.6 5.2
12:30 Canada Manufacturing Shipments (MoM) July +0.6% +1.1%
12:30 U.S. PPI, m/m August +0.1% +0.1%
12:30 U.S. PPI, y/y August +1.7% +1.8%
12:30 U.S. PPI excluding food and energy, m/m August +0.2% +0.1%
12:30 U.S. PPI excluding food and energy, Y/Y August +1.6% +1.7%
13:00 U.S. Net Long-term TIC Flows July -18.7 24.3
13:00 U.S. Total Net TIC Flows July -153.5
16:45 Canada BOC Gov Stephen Poloz Speaks
22:45 New Zealand Current Account Quarter II 1.41 -1.04
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