Forex market was fairly quiet on the economic data release side as the US markets were partially closed for Columbus Day yesterday.

However, Chinese related moves and concerns remained in focus. China’s stock sell-off eased after the biggest decline in more than three months. Chinese sell-off were mostly driven by US dollar’s strength and also because of the weak economic data, showing the country’s economy in a slowdown.

Meanwhile the Japanese shares dropped as the yen picked up its safe haven bid again.

And the Italian politicians continued to talk tough with both deputy PMs stressing that they would not alter their budget proposals.

All this brewing concerns are expected to remain in focus over the next few days, until the macro-economic data takes the center-stage later this week.

FX Rates – 09.10.18


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