# Forex Major Currencies Outlook (Oct 16, 2015) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-oct-16-2015/ Language: en Updated: 2015-10-16 Description: Explore Forex Major Currencies Outlook (Oct 16, 2015). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar bounced back against its forex counterparts yesterday, thanks to upbeat CPI data. The headline figure came in line with expectations of a 0.1% dip while the core reading showed a stronger than expected 0.2% increase versus the projected 0.1% uptick. Initial jobless claims was also better than expected while manufacturing indices from Philly and New York showed improvements, although the readings fell short of expectations. US industrial production, capacity utilization, and preliminary consumer sentiment data are lined up today. **EUR** The euro retreated to the dollar and most of its forex rivals, despite the lack of top-tier data from the euro zone. Traders probably booked profits off their long positions ahead of today’s final CPI release, as the initial estimates indicated deflation and might even see some downgrades. If so, the euro could give up further ground in anticipation of increased ECB easing. **GBP** The pound managed to hold steady against some of its peers and chalk up some gains, even though there were no reports out of the UK. The latest jobs figures were enough to keep the pound afloat, as there was positive pressure in demand and wages. Only a speech by MPC member Forbes is on the UK docket today. **CHF** The franc gave up some of its recent wins, as it took its cue from euro price action. There were no reports out of Switzerland yesterday and none are due today, suggesting that euro zone CPI might also have an impact on Swissy movement. **JPY** The yen gave up ground on weaker than expected data from Japan, with the industrial production report revised to show a sharper 1.2% drop versus the initially reported 0.5% fall. BOJ Governor Kuroda has a testimony lined up today and dovish remarks acknowledging the recent downturn in Japan could lead to more yen weakness. **Commodity Currencies (AUD, NZD, CAD)** The comdolls advanced against most of their counterparts, except for the US dollar, as data from New Zealand came in better than expected. The quarterly CPI showed a 0.3% gain versus the projected 0.2% reading, reducing fears of another RBNZ rate cut. US crude oil inventories more than doubled from 3.1 million barrels to 7.6 million barrels, weighing on prices. Canadian manufacturing sales and foreign securities purchases data are lined up. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-oct-16-2015/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-oct-16-2015/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-oct-16-2015/", "headline": "Forex Major Currencies Outlook (Oct 16, 2015)", "inLanguage": "en", "datePublished": "2015-10-16T12:47:57+00:00", "dateModified": "2015-10-16T12:47:57+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Oct 16, 2015). USDThe US. 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