Economic data from Friday showed that the Tokyo core CPI rose 1.0% as forecast. This was an unchanged print compared to the month before on an annualized basis.
In the Eurozone, the German Gfk consumer climate was seen to be steady at 10.6 which was above forecasts of 10.5. The NY trading session saw investors watching the GDP report. Data from the U.S. Department of Commerce showed that the U.S. economy advanced 3.5% in the three months ending September 2018. This was higher than the forecasts of a 3.3% increase. Still, compared to the 4.2% increase in the second quarter, the pace of growth was seen to be slowing.
The ECB President Mario Draghi was speaking later in the evening at an event but did not make direct comments to monetary policy.
Looking ahead, the economic data for the day is quiet for most of Asia and Europe. The NY trading session will see the release of the U.S. core PCE price index. Forecasts show that the Fed’s preferred gauge of inflation rose 0.1% on the month following a flat print previously.
Personal spending and income data are expected to rise 0.4% respectively.
