Asian session: the euro restored, but weakened later
00:30 Australia Australia RBA Meeting's Minutes
02:00 China GDP y/y Quarter III +9.1%
02:00 China Industrial Production y/y September +13.8%
02:00 China Retail Sales y/y September +17.7%
On Asia session the euro restored, but weakened later, after Germany dismissed speculation European policy makers would resolve their debt crisis as early as this weekend. Euro declines after German Chancellor Angela Merkel’s office knocked down what it called “dreams” that the Oct. 23 summit will be the last word in taming the crisis. Christian Noyer, head of France’s central bank, ruled out a ramping up of the European Central Bank’s bond-buying program as part of a multi-pronged strategy to shield countries like Italy.
China, the world’s second-biggest economy, reported today that industrial production increased 13.8 percent in September from a year earlier.
New Zealand’s currency erased an earlier advance as Asian stocks declined.
EUR/USD: on Asian session the pair restored, but fell later.
GBP/USD: on Asian session the pair gain.
USD/JPY: on Asian session the pair hold in range Y76.75/85.
On Tuesday UK data sees the Consumer Price Index for September at 0830GMT. Core-European data leads with the 0900GMT release of the latest ZEW survey. US data at 1230GMT, producer prices are expected to rise 0.3% in September. A late but lead focus also comes at 1715GMT, when Fed Chairman Ben Bernanke delivers a speech to the Boston Fed Bank conference.