Here’s what you need to know on Thursday, October 31:
Eurozone Harmonized Index of Consumer Prices (HICP) inflation data and US Personal Consumption Expenditure Price Index (PCE) readings will be closely watched on the last day of October. Initial weekly unemployment benefit claims will also be published on the US economic agenda.
He US dollar (USD) was under modest downward pressure in the second half of the day Wednesday following the release of mixed data. Automatic Data Processing reported that private sector employment increased by 233,000 positions in October. This reading followed the increase of 159,000 in September and exceeded the market expectation of 115,000 by a wide margin. On a negative note, the first estimate from the US Bureau of Labor Statistics showed that the US Gross Domestic Product (GDP) expanded at an annual rate of 2.8%, below the US estimate. 3% analysts. The Dollar Index fell and closed in negative territory. As of early Thursday, the index remains stable slightly above 104.00.
The Bank of Japan (BoJ) announced early on Thursday that it decided to keep its short-term interest rate target unchanged at 0.25% following the conclusion of its two-day monetary policy review. Speaking about the policy outlook at the post-meeting press conference, BoJ Governor Kazuo Ueda said the impact of exchange rates on prices has become greater than in the past, adding that companies They are now more willing to increase wages and prices. “We will continue to adjust the degree of flexibility if our economic and price perspectives are met,” Ueda reiterated. After moving sideways on Tuesday and Wednesday, the USD/JPY turned south following the BoJ event and was last seen trading deep in the red near 152.00.
Japanese Yen PRICE Today
The table below shows the percentage change of the Japanese Yen (JPY) against major currencies today. Japanese Yen was the strongest currency against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.03% | -0.09% | -0.79% | 0.08% | -0.04% | -0.07% | -0.23% | |
| EUR | -0.03% | -0.12% | -0.81% | 0.06% | -0.07% | -0.09% | -0.26% | |
| GBP | 0.09% | 0.12% | -0.69% | 0.18% | 0.05% | 0.03% | -0.14% | |
| JPY | 0.79% | 0.81% | 0.69% | 0.86% | 0.76% | 0.68% | 0.54% | |
| CAD | -0.08% | -0.06% | -0.18% | -0.86% | -0.11% | -0.15% | -0.33% | |
| AUD | 0.04% | 0.07% | -0.05% | -0.76% | 0.11% | -0.02% | -0.22% | |
| NZD | 0.07% | 0.09% | -0.03% | -0.68% | 0.15% | 0.02% | -0.17% | |
| CHF | 0.23% | 0.26% | 0.14% | -0.54% | 0.33% | 0.22% | 0.17% |
The heat map shows percentage changes for major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the box will represent the JPY (base)/USD (quote).
During Asian trading hours, data from Australia showed retail sales rose 0.5% quarter-on-quarter in the third quarter. Meanwhile, the NBS manufacturing PMI in China stood at 50.1 in October, up from 49.8 in September. He AUD/USD continues to move sideways below 0.6600 after ignoring these figures.
He EUR/USD gained more than 0.3% on Wednesday, supported by better-than-expected GDP and strong inflation readings from Germany. The pair remains relatively calm in the European morning on Thursday and fluctuates in a narrow band around 1.0850.
He GBP/USD lost traction and closed in the red on Wednesday as markets assessed the details of the Fall Budget. The pair remains stable early on Thursday and is holding on to small recovery gains above 1.2950.
He Gold seems to have entered a consolidation phase after establishing a new all-time high of $2,790. At press time, XAU/USD was down 0.3% on the day at $2,780.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
