Investing.com - " The Australian dollar weakened slightly on
Monday as September home finance data rose more than expected, but
showed the lowest proportion of first home buyers since March 2004,
while the yen made gains on September current account data.
AUD/USD traded at 0.9380, down 0.02%, after home finance data rose
4.4%, compared to a forecast for a 4.0% gain. But overshadowing the
data, the number of first home buyers as a proportion of loan
commitments fell again, indicating such buyers continue to be
priced out of the market.
USD/JPY reached 99.06, down 0.03%, as current account data showed a
wider than expected surplus of JPY587.3 billion, marking an eighth
straight month in the black on a weaker yen boosting earnings from
Last week, USD strengthened against the other main currencies after
a stronger-than-forecast U.S. jobs report for October fuelled
expectations that the Federal Reserve could start to taper its
stimulus program as soon as next month.
The U.S. economy added 204,000 jobs in October, the Department of
Labor said Friday, significantly higher than the 125,000 expected
by economists. The unemployment rate ticked up to 7.3% from an
almost five year low of 7.2% the previous month.
The report came one day after official data showed that the U.S.
economy grew at an annual rate of 2.8% in the three months to
September, well above expectations for growth of 2%.
In the week ahead, investors will be closely watching Thursday's
Senate hearing to confirm Janet Yellen as the first chairwoman of
the Federal Reserve.
Among other key data events, the euro zone and Japan are to release
preliminary data on third quarter growth. The Bank of England is to
publish its closely watched quarterly inflation report and the
National Bank of Australia will release a survey on Australia
business confidence and conditions.
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