Investing.com - " The Japanese yen and Australian dollar ticked
up in early Asian trade Monday ahead of current account and housing
finance data respectively with the focus squarely back on the
Federal Reserve's USD85 billion a month bond buying program after
strong U.S. jobs data last week.
USD/JPY hit 99.15, up 0.07% ahead of September current account data
at 0850 local time (2350 GMT) with a forecast for a surplus of
JPY400 billion, from a surplus of JPY162 billion in August. AUD/USD
traded at 0.9384, up 0.03% ahead of September housing finance data
at 1130 local time (0030 GMT) expected to show a gain of 4.0%,
compared to a drop of 3.9% in August.
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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