Forex Daily Analysis - Monday, Oct 1st

USD weakness continues

USD continues lower, despite better than expected data on Friday. The sentiment is still bearish.

Overnight News Bullets

* SW Retail Sales Aug, out at -0.9% vs 0.3% exp. YoY out at 7.3% vs 8.9% exp.
* NO Retail Sales Aug, out at -0.5% vs 0.6% exp. YoY out at 7.0% vs 8.6% exp.
* NO Unemployment Rate (AKU) July, out at 2.5% in line with exp.
* EC Consumer Confidence Sep, out at -5 vs -4 exp.
* EC Indust. Confidence Sep, out at 3 vs 4 exp.
* EC Business Climate Indicator Sep, out at 1.09 vs 1.30 exp.
* EC CPI Estimate (YoY) Sep, out at 2.1% in line with exp.
* EC Economic Confidence Sep, out at 107.1 vs 109.0 exp.
* EC Services Confidence Sep, out at 18 vs 19 exp.
* UK Gfk Consumer Confidence Sep, out at -7 vs -6 exp.
* GE IFO Business Climate Industry Sep, out at 18.2 vs a prior reading of 18.2.
* US Personal Income Aug, out at 0.3% vs 0.4% exp.
* US Personal Spending Aug, out at 0.6% vs 0.4% exp.
* US PCE Deflator (YoY) Aug, out at 1.8% vs 1.7% exp.
* US PCE Core Aug, out at 0.1% in line with exp. YoY out at 1.8% in line with exp.
* CA GDP July, out at 0.2% vs 0.3% exp.
* CA Industrial Product Price Aug, out at -1.0% vs -0.5% exp.
* JN Tankan Lge Manufactures Index Q3, out at 23 vs 21 exp.
* JN Tankan Lge Mfg Outlook Q3, out at 19 vs 20 exp.
* JN Tankan Non-Manufacturing Q3, out at 20 vs 21 exp.
* JN Tankan Non-Mfg Outlook Q3, out at 21 in line with exp.
* JN Tankan Large All Indust Capex Q3, out at 21 in line with exp.
* JN Labor Cash Earnings (YoY) Aug, out at 0.1% vs a prior reading -1.7%.
* JN Overtime Earnings (YoY) Aug, out at 1.2% vs a prior reading -0.1%.
* JN Vehicle Sales (YoY) Sep, out at -9.5% vs prior reading -1.9%.

Market FX: Dollar making new 2007 lows against EUR and CHF. Carry still remains supported.

Read More... >>