Forex Today: Aussie slumps on retail sales miss, ECB minutes – Up next

Forex today in Asia was a quiet affair, with most major sticking to tight trading ranges, as the US dollar struggled to extend the rebound, in the wake of weaker Treasury yields. However, the exception was the Aussie, as it came under aggressive selling pressure on a big miss on the Aus retail sales release, while markets ignored upbeat trade figures. The Kiwi also followed suit on NZ Finance Minister Joyce’s comments. The Yen remained largely flat-lined against the greenback, closely tracking the price-action around the US rates.

Main topics in Asia

S&P: Catalonia 'B+/B' ratings placed on CreditWatch Negative on escalation of political conflict

In its latest report published late-Wednesday, the US-based ratings agency, Standard and Poor’s (S&P) placed Catalonia 'B+/B' ratings on CreditWatch Negative on escalation of the political conflict.

Australia retail sales post biggest fall since March 2013

Australia retail sales have posted their biggest fall in about four-and-a-half years, plunging 0.6 percent in August.

Australia’s trade surplus printed at $1.0bn reviewed - Westpac

Analysts at Westpac explained that Australia’s trade surplus printed at $1.0bn, exceeding expectations (mkt median $0.85bn and Westpac $0.5bn).

AUD/USD: Bears eye a test of 0.7800 on awful Aus retail trade

The AUD came under the bus against its American counterpart in the Asia, following the release of worse-than expected Australian retail sales data, which outweighed better trade surplus print.

New Zealand's Joyce - Future surpluses may not be wider than forecasts

Comments from New Zealand Finance Minister Joyce crossing the wires this Thursday morning - Future surpluses may not be wider than forecast. 

Goldman Sachs raised estimate for Japan’s 3Q GDP to +1.5% q/q vs. +1.2% previously

The US banking giant, Goldman Sachs, made upward revisions to the Japanese Q3 growth forecasts, citing better fundamentals seen in August as the reason behind the upgrade.

Some UK MPs are said ready to call for PM May resignation - Telegraph

Uncertainty surrounding the UK politics continues to haunt the UK markets, with the latest headline from the UK’s Telegraph, citing that some UK MPs are said ready to call for PM May resignation.

Key Focus ahead

Heading into Thursday, the EUR and GBP traders gear up for the ECB monetary policy meeting minutes due out at 1130GMT, while the calendar offers second-liner data in the Swiss CPI and Eurozone retail PMI. Hence, attention turns towards the US jobless claims, trade balance and factory orders data for fresh trading opportunities.

Among the central bankers’ speeches, the FOMC members Powell and Harker will speak ahead of the BOE MPC members McCafferty and Haldane speeches.

EUR/USD: Bearish consolidation to extend ahead of ECB minutes?

The EUR/USD pair extended its overnight downside consolidation mode into Asia, although manages to hold above the midpoint of 1.17 handle, as the bears take a breather ahead of the release of the ECB monetary policy meeting minutes.

ECB Sept monetary policy meeting accounts preview - HSBC

HSBC Analysts offer a brief preview of what to expect from the ECB minutes of September monetary policy meeting due to be released at 1130GMT.

GBP/USD - Inverted Hammer awaits bullish follow through

Wednesday's inverted hammer candle on the GBP/USD chart offers a ray of hope for GBP bulls, although the strong US data releases and the heightened odds of the Fed rate hike in December could play spoil sport.

A below-trend reading for nonfarm payroll employment growth to come? - Nomura

Analysts at Nomura explained that while they forecast a below-trend reading for nonfarm payroll employment growth, they still expect manufacturing employment to increase steadily.