Article by ForexTime
USD/JPY was mostly trading between 120.25-55 in quiet Asian trading ahead of a key risk event today – the FOMC meeting. There was some action after disappointing Japanese data but the pair was mostly steady due to caution before the Fed announcement. Japanese retail trade was expected to rise 1.1 per cent month-to-month in September. Instead it rose just 0.7 per cent.
Other news came from Australia and caused AUD/USD to tumble to 0.7112 from 0.7209. It opened in Asia at 0.7190 after softer CPI data. Inflation in Australia came in lower than forecast according to data releases on Wednesday. The headline consumer price index rose 0.5 per cent in the September quarter from a 0.7 per cent rise in the three months to June 30. That was below expectations of 0.7 per cent.
Other major currency pairs were mostly flat as investors adopt a cautious stance just ahead of the monetary policy decisions from the US.
EUR/USD traded between 1.1026-53.
GBP/USD was quiet, with few flows, trading a range of 1.5299-1.5315.
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The price of Brent crude oil also fell another 1.5 per cent to below $47 a barrel, underscoring weak demand for the key global commodity
Article by ForexTime
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