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00:30 Australia Home Loans September -3.9% +3.6% +4.4%
05:00 Japan Eco Watchers Survey: Current October 52.8 54.2 51.8
05:00 Japan Eco Watchers Survey: Outlook October 54.2 54.7 54.5
The greenback remained higher after jobs data last week topped economist forecasts, boosting Treasury yields. U.S. employers added 204,000 workers in October, compared with a Bloomberg News survey median for a 120,000 gain, a report last week showed.
Fed Bank of Minneapolis President Narayana Kocherlakota and Atlanta peer Dennis Lockhart will speak tomorrow. Kocherlakota is scheduled to speak tomorrow on monetary policy and will take questions following his address. He said Oct. 17 that officials must do “whatever it takes” to push for a faster return to full employment while keeping inflation near 2 percent, including possibly providing more stimulus. Lockhart said Nov. 8 that the Fed will consider reducing its bond-buying program at next month’s policy meeting.
The euro was near a 10-month low against the pound ahead of data this week that may show factory output declined in the currency bloc and after an unexpected rate reduction by the European Central Bank. Euro-area industrial output probably fell 0.3 percent in September from a month earlier when it rose 1 percent, a separate Bloomberg News poll of economists shows. The report is due for release on Nov. 13. The ECB halved its main refinancing rate on Nov. 7 to 0.25 percent with ECB President Mario Draghi saying the 17-nation currency bloc risks a “prolonged period” of low inflation.
Demand for the pound may be sustained with some strategists predicting that Bank of England Governor Mark Carney will signal interest rates could rise sooner than previously anticipated as unemployment edges closer to policy makers’ key threshold.
EUR / USD: during the Asian session the pair traded in the range of $ 1.3345-75
GBP / USD: during the Asian session, the pair rose to $ 1.6020
USD / JPY: during the Asian session the pair fell to Y98.95
With US bond and forex markets closed for the Veterans' Day holiday, there is a very light calendar across the board on Monday. Perhaps one of the most interesting post-cut reactions will come Monday, when Bundesbank President Jen Weidmann, easily the most hawkish member of the ECB's Governing Council, speaks at an investment event in Vienna. The limited releases scheduled for Monday includes Italian September industrial production data at 0900GMT.
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