USD/JPY retreats from tops around 114.30, US GDP eyed Spot off highs in tandem with US yields. Triple-tops near 114.50 keep capping the upside. US Q3 GDP next on tap in the US docket. USD/JPY lost some upside momentum in the 114.30 area, as yields of the key US 10-year reference are now easing from daily peaks.
USD/JPY focused on US data
After climbing as high as the 114.30 region, the pair has sparked a correction lower in line with the knee-jerk in yields of the US 10-year, which have returned to the 2.45% neighbourhood after testing tops just below the 2.48% mark.
USD stays buoyant following the dovish message from the ECB at its meeting on Thursday, while the recent vote of the budget blueprint for FY 2018 at the US House of Representatives provided extra support to the buck.
On the data front, inflation figures in Japan tracked by the Tokyo Core CPI rose above estimates 0.6% on a year to October, while the National Core CPI gained 0.7% YoY in September.
In the US, flash GDP f..Read More →

EUR/USD hold weaker near 3-month lows, US GDP awaited • Investors digest Thursday’s perceived dovish ECB taper.
• Focus remains on the US GDP growth numbers.
• Any recovery attempts are likely to be short-lived.
The EUR/USD pair now seems to have entered a bearish consolidation phase and was seen oscillating within a 15-20 pips narrow band below mid-1.1600s.
Currently placed at the lower end of the daily trading range, around 1.1625-20 band, traders seemed reluctant to place aggressive bets and preferred to wait for the release of advance US GDP growth number for fresh impetus.
Meanwhile, the sentiment around the shared currency now seems to have turned bearish in wake of a dovish assessment of Thursday's ECB decision to reduce the size of its monthly asset purchases but extend the program through September 2018.
Adding to this, a stand-off between the Spanish government and the rebellious region Catalonia, over the latter’s independence campaign, further kept the Euro bull..Read More →

A measure reflecting the current economic situation in euro area improved fractionally in October, results of a survey by the Bank of Italy and the Centre for Economic Policy Research showed Friday.
The Bank of Italy/CEPR Eurocoin indicator edged up to 0.72 in October from 0.71 in September. Moreover, the index rose for the fifth successive month.
The positive trend in industry and a further improvement in business confidence more than offset the delayed impact of the appreciation in the euro exchange rate over the summer.Read More →

Iceland's consumer price inflation accelerated in October to the highest level in six months, after easing in the previous two months, figures from Statistics Finland showed Friday.
Consumer prices climbed 1.9 percent year-over-year in October, faster than September's 1.4 percent rise.
Moreover, the latest inflation was the highest since April, when prices had risen the same 1.9 percent.
The consumer price index less housing cost fell 2.3 percent annually in October, while it increased 0.6 percent from the preceding month.
On a monthly basis, consumer prices rose 0.5 percent from September, when it edged up by 0.1 percent.Read More →