FX today in Asia was mainly driven by the EUR price action, as the Catalan independence referendum news revoked political uncertainties plaguing the Euro area. As a result of the EUR/USD declines below 1.18 handle, the USD caught a solid bid-wave across the board. Meanwhile, the Yen failed to benefit for solid Japanese Tankan manufacturing surveys, while the Aussie remained better offered in a tight range amid mixed Aus fundamentals, while holidays in China and Australia also dampened the sentiment.

Main topics in Asia

PBOC announces RRR cuts for some banks effective 2018

The Chinese central bank (PBOC) announced on Saturday that it will cut the Reserve Requirement Ratio (RRR) for some banks effective 2018.

Theresa May’s speech: Cabinet is agreed on Brexit approach

The UK PM Theresa May crossed the wires in early trades, discussing the Brexit strategy in a scheduled interview with BBC Television.

90% Of Catalans voted "Yes" To leave Spain – RTRS

In incredible scenes today in Spain, after a violent day at the ballot boxes:

Bank of Japan Tankan index for large manufacturers hit 10-year high

According to the Bank of Japan's [BOJ] latest Tankan survey, activity at Japan's major manufacturers grew well beyond expectations in the third quarter to the highest level in a decade.

Australia inflation expectations rise to 0.3% in September

The Melbourne Institute's 12-month gauge of inflation expectations fell to 0.3% in September, following a reading of 0.1% in the previous month. 

Key Focus ahead

Heading into a brand new week in Europe, the economic calendar remains eventful, with the Euro area final manufacturing PMI reports due on the cards ahead of the UK manufacturing PMI release. Meanwhile, the Swiss retail sales and Eurozone jobless rate data will be also reported. Also, of note will be the UK Finance Minister Hammond’s speech for fresh trading impetus on the GBP.

During the NA session, again manufacturing PMI reports, this time out from Canada and the US will dominate the calendar. Besides, FOMC member Kaplan speech will be also closely eyed.

EUR/USD: will the Spain's political climate accelerate the euro's decline this week?

The euro has dipped again below the 1.18 handle after today's shocking events in Spain where the Catalan vote for a referendum was disrupted with violence by the National Police…

GBP/USD - Lead indicators favor weak UK PMI print, nears weekly 100-MA

GBP/USD was dragged lower in Asia by the common currency, which weakened in response to the Catalonia referendum news. The spot faded the spike to 1.3402 and traded at 1.3365 at press time.

The week ahead: expect transitory weakness in September’s nonfarm payroll growth - Nomura

Analysts at Nomura offered a preview of the key events for the week ahead.

The Week Ahead: RBA Decision, US and Canadian Jobs, US and UK PMI

The calendar heats up in the week ahead for the start of October and the fourth quarter with major scheduled events and releases that are highly likely to make a substantial market impact, particularly on the currency markets. 

Market unanimously expects the RBA to be on hold - NAB

Analysts at National Bank of Australia (NAB) are out with their thoughts on the RBA monetary policy outcome due tomorrow, with wide expectations that the Aus central bank will maintain the status-quo.

GMT
Event
Vol.
Actual
Consensus
Previous
Monday, Oct 02
05:00
 
 
4.7%
07:55
 
60.6
60.6
08:00
 
58.2
58.2
08:30
 
56.4
56.9
09:00
 
9.0%
9.1%
13:30
 
 
54.6
13:45
 
53
53
14:00
 
64
62
14:00
 
58.0
58.8
14:00
 
0.3%
-0.6%
14:30
 
 
15:30
 
 
1.05%
15:30
 
 
1.17%
18:00
 
 
23:50
 
 
16.3%
Tuesday, Oct 03
24h
 
 
00:00
 
 
-3.7%
00:30
 
-0.5%
-1.7%
00:30
 
 
-13.9%
03:30
 
1.5%
1.5%
03:30
 
 
05:00
 
 
43.3
06:30
 
 
20.1%
08:30
 
 
08:30
 
50.8
51.1

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD climbs to fresh monthly highs above 1.0350

EUR/USD climbs to fresh monthly highs above 1.0350

Following a short-lasting downward correction, EUR/USD has regathered its bullish momentum and touched its highest level in a month above 1.0350. After the soft July inflation data, the dollar remains under constant selling pressure, fueling the pair's rally.

EUR/USD News

GBP/USD advances beyond 1.2250 as dollar selloff continues

GBP/USD advances beyond 1.2250 as dollar selloff continues

GBP/USD has advanced to a fresh weekly top above 1.2250 on Wednesday. Pressured by the weaker-than-expected July figures, the US Dollar Index is down more than 1% on the day below 105.00, providing a boost to the pair.

GBP/USD News

Gold tries to claim $1,800 amid falling US yields

Gold tries to claim $1,800 amid falling US yields

After having failed to reclaim $1,800 with the initial reaction to US inflation data, gold is, once again, attempting to break above that key level. The benchmark 10-year US Treasury bond yield is down nearly 2% on the day, helping XAU/USD push higher.

Gold News

Crypto markets tumble, but the worst is yet to come

Crypto markets tumble, but the worst is yet to come

Bitcoin price is trying to undo the gains it witnessed over the last week and is currently at the midway point. This sell-off has caused Ethereum and Ripple prices to follow suit, pausing the rallies that altcoins were experiencing.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures