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  • Foreign exchange market. European session: the U.S. dollar traded mixed against the most major currencies after the release of the weaker-than-expected U.S. personal spending data
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30.10.2015, 13:11

Foreign exchange market. European session: the U.S. dollar traded mixed against the most major currencies after the release of the weaker-than-expected U.S. personal spending data

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

00:00 New Zealand ANZ Business Confidence October -18.9 10.5

00:05 United Kingdom Gfk Consumer Confidence October 3 4 2

00:30 Australia Private Sector Credit, m/m September 0.6% 0.8%

00:30 Australia Producer price index, q / q Quarter III 0.3% 0.9%

00:30 Australia Producer price index, y/y Quarter III 1.1% 1.7%

03:00 Japan BoJ Interest Rate Decision 0% 0%

03:00 Japan Bank of Japan Monetary Base Target 275 275

03:00 Japan BoJ Monetary Policy Statement

04:00 Japan Housing Starts, y/y September 8.8%

04:00 Japan Construction Orders, y/y September -15.6%

06:30 Japan BOJ Press Conference

07:00 Germany Retail sales, real adjusted September -0.7% Revised From -0.4% 0.4% 0.0%

07:00 Germany Retail sales, real unadjusted, y/y September 2.1% Revised From 2.5% 4.2% 3.4%

08:00 Switzerland KOF Leading Indicator October 100.4 100 99.8

10:00 Eurozone Harmonized CPI, Y/Y (Preliminary) October -0.1% 0% 0.0%

10:00 Eurozone Harmonized CPI ex EFAT, Y/Y (Preliminary) October 0.9% 0.9% 1.0%

10:00 Eurozone Unemployment Rate September 10.9% Revised From 11% 11% 10.8%

12:30 Canada GDP (m/m) August 0.3% 0.1% 0.1%

12:30 U.S. Personal Income, m/m September 0.4% Revised From 0.3% 0.2% 0.1%

12:30 U.S. Personal spending September 0.4% 0.2% 0.1%

12:30 U.S. PCE price index ex food, energy, m/m September 0.1% 0.2% 0.1%

12:30 U.S. PCE price index ex food, energy, Y/Y September 1.3% 1.3%

The U.S. dollar traded mixed against the most major currencies after the release of the weaker-than-expected U.S. personal spending data. The U.S. Commerce Department released personal spending and income figures on Friday. Personal spending rose 0.1% in September, missing expectations for a 0.2% gain, after a 0.4% increase in August. It was the smallest increase since January.

Consumer spending makes more than two-thirds of U.S. economic activity. Consumer spending grew 3.2% in the third quarter, after a 3.6% increase in the second quarter.

This data suggests that American consumers were cautious due to a slowdown abroad.

Personal spending was partly driven by higher demand for durable goods and services. Spending on durable goods rose 0.8% in September, while spending on services increased by 0.4%.

The saving rate climbed to 4.8% in September from 4.7% in August.

Personal income increased 0.1% in September, missing expectations for a 0.2% rise, after a 0.4% gain in August. It was the smallest rise since March.

August's figure was revised up from a 0.3% increase.

Wages and salaries were flat in September, after a 0.5% rise in August.

The personal consumption expenditures (PCE) price index excluding food and energy rose 0.1% in September, missing forecasts of a 0.2% increase, after a 0.1% gain in August.

On a yearly basis, the PCE price index excluding food and index remained unchanged at 1.3% in September.

The PCE index is below the Fed's 2% inflation target. The PCE index is the Fed's preferred measure of inflation.

The euro traded higher against the U.S. dollar after the positive economic data from the Eurozone. Eurostat released its consumer price inflation data for the Eurozone on Friday. The preliminary consumer price inflation in the Eurozone rose to an annual rate of 0.0% in October from -0.1% in September, in line with expectations.

The preliminary consumer price inflation excluding food, energy, alcohol, and tobacco to an annual rate of 1.0% in October from 0.9% in September. Analysts expected the inflation to remain unchanged.

Food, alcohol and tobacco prices were up 1.5% in October, non-energy industrial goods prices gained 0.4%, and services prices climbed 1.3%, while energy prices dropped 8.7%.

Eurozone's unemployment rate declined to 10.8% in September from 10.9% in August. It was the lowest reading since January 2012.

August's figure was revised down from 11.0%.

Analysts had expected the unemployment rate to rise to 11.0%.

There were 17.323 million unemployed in the Eurozone in September, down from 17.454 million in August.

The lowest unemployment rate in the Eurozone in September was recorded in Germany (4.5%) and Malta (5.1%), and the highest in Greece (25.0% in July 2015) and Spain (21.6%).

The youth unemployment rate was 22.1% in the Eurozone in September, compared to 23.4% in September a year ago.

The British pound traded higher against the U.S. dollar in the absence of any major economic reports from the U.K.

The Canadian dollar traded higher against the U.S. dollar after the release of the Canadian GDP data. Canada's GDP growth rose 0.1% in August, in line with expectations, after a 0.3% gain in July.

The increase was driven by rises in manufacturing, mining, quarrying, and oil and gas extraction, and retail trade sector.

The mining, quarrying, and oil and gas extraction sector rose 0.4% in August, manufacturing output increased 0.4%, while the retail trade sector climbed 0.6%.

The Swiss franc traded mixed against the U.S. dollar. The Swiss Economic Institute KOF released its leading indicator for Switzerland on Friday. The KOF leading indicator declined to 99.8 in October from 100.3 in September, missing expectations for a fall to 100.0. August's figure was revised down from 100.4.

According to the institute, the outlook for the Swiss economy continued "digesting the exchange rate shock".

EUR/USD: the currency pair increased to $1.1036

GBP/USD: the currency pair was up to $1.5362

USD/JPY: the currency pair fell to Y120.27

The most important news that are expected (GMT0):

13:45 U.S. Chicago Purchasing Managers' Index October 48.7 49

14:00 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) October 87.2 92.5

14:00 U.S. FOMC Member Williams Speaks

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