08:30 Germany PMI services (October) flash 46.2
08:30 Germany PMI (October) flash 36.7
09:00 Е15 PMI services (October) flash 43.3
09:00 Е15 PMI (October) flash 36.2
12:00 Canada CPI excluding food and energy (October) Y/Y 1.7%
12:00 Canada CPI excluding food and energy (October) -0.2%
12:00 Canada CPI (October) Y/Y 2.6%
12:00 Canada CPI (October) -0.1%
The yen declined as stocks rebounded on speculation that a sale of Citigroup Inc. will reduce risk in the financial system, stoking demand for higher-yielding assets financed with loans in Japan.
The yen also weakened against the Australian dollar, a favorite of so-called carry trades, after the Reserve Bank of Australia bought its own currency for at least the fifth time in four weeks. The dollar dropped versus the euro on speculation the Federal Reserve will cut interest rates and flood the financial system with cash as a recession causes prices to fall.
The Bank of Japan kept its benchmark rate at 0.3 percent today and said it will consider pumping more money into the financial system to prop up an economy that fell into a recession last quarter. Japan's rate compares with 6.5 percent in New Zealand and 5.25 percent in Australia.
The Fed's record injections of liquidity to stabilize the financial system have driven the overnight lending rate between banks to less than half the 1 percent target set by officials last month. The gap is shifting investor focus toward the amount of money in the system as a better gauge of Fed intentions.
EUR/USD having begun the European session by growth, the pair could not at once will be fixed above a level $1,2600 then has slightly decreased in area $1,2550.