Market Drivers – US Session, September 28

During the Asian session, Japan will release critical economic reports, including the September Tokyo Consumer Price Index, August Unemployment Rate, Industrial Production, Retail Sales, and Housing Starts.

Australia will release Private Sector Credit data, while Germany will release Retail Sales and the Unemployment Rate. The Eurozone CPI will be the key report, followed by the US Core Personal Consumption Expenditures and Canada’s monthly GDP.

The US Dollar index experienced a correction lower on Thursday, declining by 0.50%. The Eurozone Harmonized Index of Consumer Prices is due on Friday, and Germany’s inflation fell from 6.1% to 4.5% in September.

The UK is set to release a new estimate of Q2 GDP growth and later Consumer Credit data. USD/JPY experienced a modest drop despite the reversal in US yields. Australia will release Private Sector Credit data, and Canada will report July GDP data.

Gold extended its decline, printing fresh monthly lows at $1,857 before rebounding to the $1,866 area. The potential for a weaker Dollar and lower yields could support a stabilization.

Also Read:
GBP/USD made a modest comeback

EUR/USD advances ahead of EU CPI, US PCE inflation

CAD expects USD to decline even further

US oil retreats from a 12-month peak on profit taking, hawkish Fed

Wall Street ticks higher as investors digest US GDP data

Gold extends losses as Fed policymakers back more rate hikes