Foreign exchange - Yen holds regular to stronger on retail gross sales bounce

Yen hols steady to stronger on retail sales

Investing.com – The yen held steady to stronger in Asia on Monday after a surprise spike in retail sales offset weaker than expected industrial production in October.

In Japan, for October rose 1.4% month-on-month, below the 1.9% gain seen, while jumped 1.8%, well above the 0.8% year-on-year increase expected.

In Australia, the showed a reading of 0.1%. As well, are due month-on-month for October with the previous reading down 4.0%.

Further ahead, Australia reports for the third quarter, seen up 0.1% month-on-month, seen up 1.0% quarter-on-quarter, and for October and , expected up 0.6% month-on-month.

New Zealand is to release a report on .

In the week ahead, investors will focus on Friday’s U.S. report for November, the last jobs report before the Federal Reserve decides on interest rates at its December 15-16 meeting.

The outcome of Thursday’s meeting will also be in focus amid speculation the central bank could ramp up its monetary stimulus program.

On Monday in the euro area, Germany is to release preliminary data on inflation as well as a report on .

The U.S. is to publish a report on manufacturing activity in the as well as private sector data on pending .

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was quoted up 0.13% at 100.19.

Last week, the U.S. dollar rose to a more than eight-month peak against its major counterparts on Friday, as demand for the greenback remained underpinned amid growing confidence the Federal Reserve will raise interest rates when in meets next month.

The greenback remained broadly supported after a string of upbeat U.S. data released over the week added to expectations that the Federal Reserve will raise interest rates next month.

Over the last few weeks, ECB president Mario Draghi has sent strong indications that the central bank could increase the scope of its €60 billion a month quantitative easing program at the December meeting.

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Foreign exchange - Yen holds regular to stronger on retail gross sales bounce