The US dollar had a neutral trade yesterday. It retreated slightly after data showed that U.S. retail sales rose more than expected in September, with investors also focused on a busy week of speeches by Federal Reserve officials.
Retail sales rose 0.7% last month as households boosted purchases of motor vehicles and spent more at restaurants and bars.
Bullions and base metals prices consolidated in a small range, while Crude oil had a neutral trade yesterday. Today, prices surged as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region.
The dollar index, which measures the currency against six major counterparts, fell 0.02% at 106.1930. MCX Gold future settled at 59166 down 0.41%. Silver at 71540 up 0.35%. Copper prices settled at 700.50 up 0.34%. Crude oil settled at 7239 down 0.28%. Natural gas settled at 261.80 down 3.32%.
Economic data and events scheduled today.
Eurozone
At 1.30 pm – Italian Trade Balance. Data is foreseen at 6.05B from previous 6.38B.
At 2.30pm –
Final Core CPI y/y. Data is foreseen at 4.5% from 4.5%.
Final CPI y/y. Data is foreseen at 4.3% from the previous 4.3%.
Above data could have a neutral impact on the Euro.
U.K.
At 11.30am-
CPI y/y. Data is foreseen at 6.6%. Previous was at 6.7%.
Core CPI y/y. Data is foreseen at 6%. Previous was at 6.2%.
PPI Input m/m. Data is foreseen at 0.8%. Previous was at 0.4%.
PPI Output m/m. Data is foreseen at 0.3%. Previous was at 0.2%.
At 2.00pm – HPI y/y. Data is foreseen at -0.50%. Previous was at 0.6%.
Above data could have a negative impact on the pound.
Canada
At 5.45pm – Housing Starts. Data is foreseen at 241k from the previous 253k.
Above data could have a negative impact on the Canadian dollar.
U.S.
At 6.00 pm-
Building Permits. Data is foreseen at 1.45M from previous 1.54M.
Housing Starts. Data is foreseen at 1.39M from previous 1.28M.
At 8.00pm – Crude Oil Inventories. Data is foreseen at 0.1M from previous 10.2M.
At 9.30 pm- FOMC Member Waller Speaks
At 6.50pm – FOMC Member Bowman Speaks.
At 10.00pm – FOMC Member Williams Speaks.
At 10.30pm – FOMC Member Bowman Speaks.
At 11.30pm- Beige Book
All above data could have a volatile to negative impact on the dollar.