• Foreign exchange market. Asian session: the Australian dollar fell against the U.S. dollar after the release of the weaker-than-expected Australian building permits

Market news

3 November 2014

Foreign exchange market. Asian session: the Australian dollar fell against the U.S. dollar after the release of the weaker-than-expected Australian building permits

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

00:00 Japan Bank holiday

00:30 Australia Building Permits, m/m September +3.4% Revised From +3.0% -0.9% -11%

00:30 Australia Building Permits, y/y September +14.5% -13.4%

00:30 Australia ANZ Job Advertisements (MoM) October +0.9% +0.2%

01:00 China Non-Manufacturing PMI October 54.0 53.8

01:45 China HSBC Manufacturing PMI (Finally) October 50.4 50.4 50.4

05:30 Australia RBA Commodity prices, y/y October -16.8% -16.9%

08:30 Switzerland Manufacturing PMI October 50.4 51.3 55.3

08:48 France Manufacturing PMI (Finally) October 47.3 47.3 48.5

08:53 Germany Manufacturing PMI (Finally) October 51.8 51.8 51.4

08:58 Eurozone Manufacturing PMI (Finally) October 50.7 50.7 50.6

09:30 United Kingdom Purchasing Manager Index Manufacturing October 51.6 51.5 53.2

The U.S. dollar traded higher against the most major currencies. The greenback was supported by Friday's U.S. economic data. The final Reuters/Michigan Consumer Sentiment Index jumped to 86.9 in October from 86.4 in September, exceeding expectations for a rise to 86.4.

The Chicago purchasing managers' index increased to 66.2 in October from 60.5 in September, beating expectations for a decline to 59.5.

The New Zealand dollar traded lower against the U.S. dollar in the absence of any major economic reports from New Zealand.

The Australian dollar fell against the U.S. dollar after the release of the weaker-than-expected Australian building permits. Building permits in Australia dropped 11% in September, missing expectations for a 0.9% decline, after a 3.4% increase in August. August's figure was revised up from a 3.0% rise.

ANZ job advertisements rose 0.2% in October, after a 0.9% gain in September.

The Japanese yen traded lower against the U.S. dollar in the absence of any major economic reports from Japan. Markets in Japan were closed for a public holiday.

Friday's decision by the Bank of Japan (BoJ) still weighed on the yen. The BoJ decided to increase its monetary base target to an annual increase of ¥80 trillion, up from ¥60-70 trillion, and to boost exchange-traded fund purchases to ¥3 trillion. This decision was not expected by analysts.

EUR/USD: the currency pair declined to $1.2439

GBP/USD: the currency pair fell to $1.5926

USD/JPY: the currency pair rose to Y112.98

The most important news that are expected (GMT0):

14:45 U.S. Manufacturing PMI (Finally) October 56.2 56.2

15:00 U.S. ISM Manufacturing October 56.6 56.5

17:50 Canada BOC Gov Stephen Poloz Speaks

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