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00:00 U.S. Fed Chairman Bernanke Speaks
00:30 Australia RBA Assist Gov Debelle Speaks
04:30 Japan All Industry Activity Index, m/m September +0.3% +0.5% +0.4%
The dollar fell versus the euro and yen after Federal Reserve Chairman Ben S. Bernanke said the central bank’s main interest rate will probably remain near zero for a “considerable time” after asset purchases end. The labor market has shown “meaningful improvement” since the Fed’s bond-buying program started, Bernanke said in remarks prepared for a speech to economists in Washington. A “preponderance of data” would be needed to begin removing accommodation, he said. Benchmark interest rates may remain low “perhaps well after” the jobless rate falls below the Fed’s 6.5 percent threshold, he said.
The Commerce Department will probably say today that retail sales in the world’s biggest economy increased 0.1 percent in October after a 0.1 percent decline the previous month, according to the median estimate of economists surveyed by Bloomberg. A separate report is projected to show consumer prices stagnated in October from the previous month, after rising 0.2 percent in September.
The yen briefly extended declines after data today showed growth in imports outstripped exports in October, leaving a trade deficit of 1.09 trillion yen ($10.9 billion), more than all 28 forecasts in a Bloomberg survey. Imports climbed 26.1 percent from a year earlier, while exports gained 18.6 percent.
EUR / USD: during the Asian session the pair rose to $ 1.3580
GBP / USD: during the Asian session, the pair rose $ 1.6145
USD / JPY: during the Asian session the pair fell to the level of Y99.95
BOE Minutes at 0930GMT the morning focus.
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