Monday, 29 October 2012

Daily Morning Report 29/10/2012


The dollar traded higher against most major currencies on Monday, as investors snapped up safe-haven USD positions to brace for U.S. unemployment data due out later this week as well as the Bank of Japan's latest decision on interest rates.
The USD was up against the GBP, CAD, NZD, AUD, JPY and CHF in Asian session.
 Fears Greece may run into hurdles securing its next tranche of bailout money sparked the risk-off session as well.
Japan, meanwhile, is to release data on unemployment, household spending and industrial production this week, though investors were keeping a close eye on the Bank of Japan, which will announce its latest decision with interest rates and monetary policy on Tuesday.
Later Monday, the U.S. government plans to issue data on personal income and spending for September on Monday even though the government has shut down to brace for Hurricane Sandy. The Federal Reserve, however, will postpone its regularly scheduled data. The Commerce Department will post the monthly report on consumer spending on its web site at 1230 GMT, as regularly scheduled. In contrast, the Fed said it would wait until the federal government reopens to release its data, including a weekly report on selected interest rates and figures on commercial paper issuance.

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