Investing.com - The U.S. dollar traded higher against most of its major rivals during Monday’s Asian session even as traders appear willing to be bet that the Federal Reserve still is not close to tapering its quantitative easing program.
In Asian trading Monday, EUR/USD fell 0.08% to 1.3675. Later Monday, Germany is to produce data on producer price inflation, a leading indicator of consumer inflation. Germany is the euro zone’s largest economy.
USD/JPY rose 0.20% to 97.99 after Japan’s Ministry of Finance said the country logged a trade deficit of JPY932.1 billion last month. That markets a 15th consecutive month of trade deficits for the world’s third-largest economy.
The previous record was 14 straight months from 1979 to 1980. Economists expected a September trade deficit of JPY933.9 billion. Exports rose 11.5% last month, but imports increased 16.5%, according to Ministry of Finance data.
GBP/USD inched down 0.05% to 1.6160. In the week ahead, the U.K. is to release preliminary data on third quarter growth, while the Bank of England is to publish the minutes of its latest policy meeting.
Later Monday, the U.S. releases new home sales data and on Tuesday, the Labor Department reveals the September non-farm payrolls, two reports that could be pivotal for oil traders over the near-term. The September jobs data was delayed because of the U.S. government shutdown.
USD/CHF rose 0.12% to 0.9031 while USD/CAD gained 0.06% to 1.0299.
AUD/USD lost 0.31% to 0.9647 although it is expected the Aussie will continue its recently bullish ways because traders believe the Fed will not pare its USD85 billion-a-month bond-buying program until sometime next year, perhaps well into the second quarter at the earliest.
NZD/USD dropped 0.27% to 0.8485 while the U.S. Dollar Index added 0.08% to 79.76.
In Asian trading Monday, EUR/USD fell 0.08% to 1.3675. Later Monday, Germany is to produce data on producer price inflation, a leading indicator of consumer inflation. Germany is the euro zone’s largest economy.
USD/JPY rose 0.20% to 97.99 after Japan’s Ministry of Finance said the country logged a trade deficit of JPY932.1 billion last month. That markets a 15th consecutive month of trade deficits for the world’s third-largest economy.
The previous record was 14 straight months from 1979 to 1980. Economists expected a September trade deficit of JPY933.9 billion. Exports rose 11.5% last month, but imports increased 16.5%, according to Ministry of Finance data.
GBP/USD inched down 0.05% to 1.6160. In the week ahead, the U.K. is to release preliminary data on third quarter growth, while the Bank of England is to publish the minutes of its latest policy meeting.
Later Monday, the U.S. releases new home sales data and on Tuesday, the Labor Department reveals the September non-farm payrolls, two reports that could be pivotal for oil traders over the near-term. The September jobs data was delayed because of the U.S. government shutdown.
USD/CHF rose 0.12% to 0.9031 while USD/CAD gained 0.06% to 1.0299.
AUD/USD lost 0.31% to 0.9647 although it is expected the Aussie will continue its recently bullish ways because traders believe the Fed will not pare its USD85 billion-a-month bond-buying program until sometime next year, perhaps well into the second quarter at the earliest.
NZD/USD dropped 0.27% to 0.8485 while the U.S. Dollar Index added 0.08% to 79.76.