ForexLive European FX news wrap: Dollar steady, aussie gives back CPI gains

<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/australian-dollar-surrenders-gains-from-stronger-cpi-data-earlier-20231025/">Australian dollar surrenders gains from stronger CPI data earlier</a></li><li><a href="https://www.forexlive.com/news/what-are-the-odds-of-a-rba-rate-hike-next-month-now-20231025/">What are the odds of a RBA rate hike next month now?</a></li><li><a href="https://www.forexlive.com/Cryptocurrency/bitcoin-consolidates-gains-after-etf-ticker-fiasco-20231025/">Bitcoin consolidates gains after ETF ticker fiasco</a></li><li><a href="https://www.forexlive.com/news/germany-october-ifo-business-climate-index-869-vs-859-expected-20231025/">Germany October Ifo business climate index 86.9 vs 85.9 expected</a></li><li><a href="https://www.forexlive.com/news/eurozone-september-m3-money-supply-12-vs-17-yy-expected-20231025/">Eurozone September M3 money supply -1.2% vs -1.7% y/y expected</a></li><li><a href="https://www.forexlive.com/news/switzerland-october-credit-suisse-investor-sentiment-378-vs-276-prior-20231025/">Switzerland October Credit Suisse investor sentiment -37.8 vs -27.6 prior</a></li><li><a href="https://www.forexlive.com/news/us-mba-mortgage-applications-we-20-october-10-vs-69-prior-20231025/">US MBA mortgage applications w.e. 20 October -1.0% vs -6.9% prior</a></li><li><a href="https://www.forexlive.com/news/imfs-georgieva-inflation-is-still-high-20231025/">IMF's Georgieva: Inflation is still high</a></li><li><a href="https://www.forexlive.com/news/hong-kong-to-cut-stamp-duty-on-stock-trading-to-010-from-013-20231025/">Hong Kong to cut stamp duty on stock trading to 0.10% from 0.13%</a></li><li><a href="https://www.forexlive.com/news/japan-reportedly-eyes-one-year-income-resident-tax-cuts-from-june-next-year-20231025/">Japan reportedly eyes one-year income, resident tax cuts from June next year</a></li></ul><p>Markets:</p><ul><li>USD leads, NZD lags on the day</li><li>European equities mixed; S&amp;P 500 futures down 0.3%</li><li>US 10-year yields up 1.9 bps to 4.859%</li><li>Gold up 0.2% to $1,973.24</li><li>WTI crude flat at $83.69</li><li>Bitcoin up 1.0% to $34,253</li></ul><p>It was a slower session today as traders didn't have as much to work with in European morning trade compared to yesterday, though there were some decent moves all around.</p><p>The Australian dollar was the standout in Asia, advancing after a stronger-than-expected inflation report but gave it all back during the session and then some. This comes as stocks are pinned down, in particular tech shares after a mixed picture from Microsoft and Google's earnings releases overnight.</p><p>AUD/USD was up to near 0.6400 earlier on but is now down 0.3% on the day to 0.6335 as the dollar also firmed slightly.</p><p>USD/JPY continues to hover just below 150.00 as Treasury yields keep steadier while EUR/USD is down 0.1% to 1.0575 from around 1.0590 earlier in the session. GBP/USD is marked down by 0.3% to 1.2125 as the greenback is keeping the advance from yesterday going, amid sluggish European PMI data.</p><p>Besides that, Bitcoin continues to consolidate gains after a bit of a fiasco with regards to its ETF ticker – keeping above $34,000 for now.</p><p>If anything else, watch out for the 5-year Treasury auction later as that could be a catalyst for a move in markets – more so than the BOC and Powell I reckon.</p>

This article was written by Justin Low at www.forexlive.com.