The greenback is mixed in the ongoing session. It is stronger against EUR, GBP and CHF, weaker against JPY and unchanged against the rest of the majors. European equities are losing nearly 1% and the relative strength winner is JPY while GBP lags.
GBP is losing across the board despite UK mortgage approvals that rose 50K in September after rising 48K the prior month. Furthermore, net consumer credit rose to GBP 1.2 bln from previous -0.1 bln which is the highest level since 2008. GBPUSD trades near session lows around 1.6060 while EURGBP recovered to 0.8035 after falling to 0.8022.
EURUSD declined to 1.2886 after Spanish retail sales dropped more than analysts anticipated. On annual basis sales fell 10.9% in September after falling only 2.1% in August. A VAT hike is blamed for the decline. EURUSD trades around 1.2910.
Italy reached a full take up as it sold EUR 8 bln of 6 month BOT. The average yield was lower at 1.347% from 1.5% while cover rose to 1.52 from 1.39.
US core PCE that is expected to inch higher to 1.7% in September from 1.6% y/y. Sep Personal income rose 0.4% as expected from 0.1% and personal spending rose 0.8% vs expected 0.6% from previous 0.5%. Coe PCE price index edged up 1.7% from 1.6%.
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