With no major releases yesterday, technical movements dominated the trading yesterday, yet today fundamentals return as the U.S Dollar was mixed since early this morning against majors, rising against some of the majors and falling against the others.
With the start of today's trading the Euro gained reaching near the 1.42s once more, Sterling on the other hand declined below the 2.04s, while the Yen almost settled against the U.S Dollar as the pair is being traded around the 117.30s.
The Euro started to incline against the U.S Dollar since the start of today's trading, recording a low of 1.4135 and a high of 1.4186.
Germany released today the Wholesale Price Index for the month of September, rising 0.9% much better than the expected rise of 0.2% and the previous 0.5% rise. While now we are waiting for the GDP's final reading for the second quartet, analysts expect an unrevised rise of 0.3% on the quarter, while on the year analysts expect that the EU's economy grew by 2.5% unrevised from the previous estimate as well, after that Mr. Trichet will be speaking in Moscow as markets don't expect much from him about the current economic situation.
The British Pound inclined from the start of today's Asian session to set a high of 2.0421 yet it declined back afterwards to record a low of 2.0364 with no major releases to be seen today from the U.K.
Finally, the Japanese Yen fluctuated against the U.S Dollar, as the USD/JPY pair recorded a high of 117.37 after recording a low of 117.07 in limited trading so far.
The Bank of Japan released today their decision to their Benchmark Interest Rates, keeping rates unchanged at 0.5% as it was widely expected in the financial markets, the statement released didn't add anything new, as the report said that the Japanese economy is still growing.