FX Update: The dollar majors settled FX Update: The dollar majors settled after a volatile week while European and most Asian stock markets managed to recoup some of the ground lost this week. EUR-USD oscillated in a narrow range around 1.2800. USD-JPY lifted to the 106.50 area, achieving a two-day high and managing to climb above its 50-day moving average situated at 106.22. Generally firmer equity markets was conducive for the yen to give back some of its recent gains, although Japanese markets were the notable exception today with the Nikkei closing 1.4% for the worse. AUD-USD posted at 0.8734-0.8791 range, remaining comfortably within yesterday's range. Cable edged out a four-day high at 1.6117 but failed to sustain gains. BoE chief economist Haldane said in a speech that "rates could remain lower for longer." An accidental re-release of the RBNZ's September statement caused only a brief stir as it generated rehashed headlines about the Kiwi being to strong. NZD-USD dove over 50 pips to a low of 0.7878 before rebounding smartly to near net unchanged levels once the error became understood.
Fedspeak resumes with remarks from Chairwoman Yellen Fedspeak resumes with remarks from Chairwoman Yellen who will be speaking before an "Inequality of Economic Opportunity in the U.S." conference from 8:30 ET. This seems an unlikely venue for any major policy hints, though the topic could lend itself to confirming her dovish views on the labor market. Her speech will follow welcoming remarks from Boston Fed dove Rosengren.
Federal Reserve Bank of Boston President Rosengren provides opening remarks Boston Federal Reserve Bank President Rosengren provides the opening remarks at the Federal Reserve Bank of Boston's 58th Economic Conference: Inequality of Economic Opportunity being held in Boston on October 17 at 8:30 am.