The US Dollar continues to hold its own as we come into the new week, trading just off recent eight week highs. What we’ve seen has been a wave of stronger US economic data and a repricing of Fed expectations.

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AUD/USD is holding higher ground above 0.6450 in Friday's Asian trading, shrugging off mixed Chinese activity data for October. Traders are looking to cash in after the recent downfall even though the US Dollar stay firm and market mood remains cautious. US data is next in focus. 

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USD/JPY reverses Japan's GDP-led spike to 156.75

USD/JPY reverses Japan's GDP-led spike to 156.75

USD/JPY pares gains to near 156.50 in Asian session on Friday, revesing the early spike to 156.75 fuelled by unimpressive Japanese Q3 GDP data. The pair is facing headwinds from Japanese verbal intervention and a tepid risk tone, despite the sustained US Dollar strength. 

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Gold price struggles to gain ground on bullish US Dollar, US PPI data looms

Gold price struggles to gain ground on bullish US Dollar, US PPI data looms

Gold price struggles to gain ground around $2,570 on Friday after bouncing off a two-month low in the previous session. The precious metal remains under selling pressure amid the strong US Dollar and the rising uncertainty surrounding the Federal Reserve's pace of interest rate reductions.

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Trump vs CPI

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US CPI for October was exactly in line with expectations. The headline rate of CPI rose to 2.6% YoY from 2.4% YoY in September. The core rate remained steady at 3.3%. The detail of the report shows that the shelter index rose by 0.4% on the month, which accounted for 50% of the increase in all items on a monthly basis. 

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