Risk sentiment: Asian stocks fell because of continued civil unrest in Hong Kong. Chinese markets are closed for National Day. Chinese manufacturing data offered investors some relief with the official Purchasing Managers' Index was unchanged at 51.1 in Sep.
AUD/USD fell to 8-month low: retail sales grew less than expected (+0.1% vs. the forecast of +0.4%).
NZD/USD: under pressure, upside capped at $0.7820
EUR: on the downside, just above $1.2600 ahead of the ECB’s tomorrow meeting and amid concern inflation will keep slowing.
GBP/USD: bearish at $1.6180. Watch the UK Manufacturing PMI at 8:30 GMT.
JPY: Tankan Large Manufacturing Index is at maximum since Q1, Tankan Services Index is down for 2 consecutive quarters, lowest since Sep. 2013.
USD/JPY rose to 110 yen: dollar strengthened ahead of the ADP employment report (12:15 GMT).
AUD/USD fell to 8-month low: retail sales grew less than expected (+0.1% vs. the forecast of +0.4%).
NZD/USD: under pressure, upside capped at $0.7820
EUR: on the downside, just above $1.2600 ahead of the ECB’s tomorrow meeting and amid concern inflation will keep slowing.
GBP/USD: bearish at $1.6180. Watch the UK Manufacturing PMI at 8:30 GMT.
JPY: Tankan Large Manufacturing Index is at maximum since Q1, Tankan Services Index is down for 2 consecutive quarters, lowest since Sep. 2013.
USD/JPY rose to 110 yen: dollar strengthened ahead of the ADP employment report (12:15 GMT).
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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.