The main focus today will be on the E.U. CPI. The EUR/USD pair had an aggressive roller coaster and ended the day in red during yesterday's trading session. The AUD/USD pair moved lower and is printing the fifth straight bearish week. Also, the USD/JPY pair slipped below 112.95 but is currently covering some losses.
Last night, Australian employment report releases and the unemployment rate ticked lower unexpectedly and fell to 5.4% in October from 5.5% the prior month while market expected 5.5%. It was the lowest jobless rate since February 2013. However, the number of people employed jumped by 3.7K for October, less than expectations for a rise of 18.8K and following an increase of 19.8K in the prior month.
The highlight of the day is the Eurozone’s CPI report. The inflation rate in the Euro area is predicted to be stable to 1.4% in October. Eurozone presented the trade balance for September with an increase of €25.0B from a previous €21.6B and drove the EUR/USD pair extremely higher but it failed to end the day positive.
Read the full financial markets daily report on JFD Research.