While the NA session is expected to be action-packed with the crucial US retail sales and PPI data to imperss followed by consumer sentiment release. The Australian dollar moved slightly higher ahead of a rate decision while the Japanese Yen traded broadly lower. We do not expect changes from either central bank but a small subset of investors believe that the RBA and BoJ could ease. Starting with the RBA, there were major full time job losses in the month of September.
The Chinese economy has also been slowing with imports and exports falling. However the RBA could look past softer labor market wales and weaker growth in China because the central bank is optimistic and inflation is on the rise. According to the table below, since the last monetary policy meeting retail sales is up, consumer and business confidence increased, the tradPrintAsian markets were mixed on Wednesday in following diverging data in China which led to a small rally in Chinese stocks.
While Chinese industrial output in October failed to meet expectations investors were encouraged by strong retail sales in October, which rose 11% from the previous year. Forex Crunch is a site WWeek about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex.Read MoreLaunch DataFlash.
As expected the RBA maintained rates at 1.50%. Australian GDP fodex weak.