# Forex Major Currencies Outlook (Oct 28, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-oct-28-2016/ Language: en Updated: 2016-10-28 Description: Explore Forex Major Currencies Outlook (Oct 28, 2016). USD The US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar resumed its climb against its peers, thanks to strong gains in US bond yields and mostly upbeat medium-tier data. Headline durable goods orders fell 0.1% instead of rising by 0.1% while core durable goods orders came in line with estimates of a 0.2% gain. Initial jobless claims stood at 258K versus 261K while pending home sales posted a 1.5% gain, higher than the estimated 1.2% increase. US advanced GDP data is due today and a 2.5% expansion is projected. **EUR** The euro recouped most of its recent losses as traders likely booked profits off their shorts on upbeat data. The Spanish unemployment rate improved from 20% to 18.9%, much better than the estimated 19.3% reading. Preliminary GDP and CPI readings from Germany, France, and Spain are lined up today so strong readings are likely to drive the euro higher while weak results could force it to retreat again. **GBP** The pound also regained a bit of ground but was unable to sustain its climb even after the preliminary Q3 UK GDP came in better than expected. The economy expanded by 0.5% in Q3 even after the Brexit referendum while the earlier figure was upgraded to 0.7% growth. There are no reports due from the UK economy today. **CHF** The franc barely made much headway against its peers, except against the Japanese yen. The Swiss UBS consumption indicator rose from 1.53 to 1.59 to reflect a bit of improvement. Swiss KOF economic barometer is due today and a rise from 101.3 to 101.8 is eyed. **JPY** The yen gave up ground when economic data from Japan beat expectations, presumably due to the pickup in risk appetite it caused. Household spending is down 2.1% on a year-over-year basis, better than the projected 2.6% decline and the previous 4.6% drop. Tokyo core CPI came in at -0.4% versus the projected 0.5% dip while national core CPI came in line with estimates of a 0.5% decline. BOJ core CPI is still due next. **Commodity Currencies (AUD, NZD, CAD)** The comdolls were the weaker performers of the day, giving up ground to the dollar and European currencies. Australian import prices posted a steeper 1.0% decline compared to the estimated 0.7% drop while PPI rose 0.3% versus the estimated 0.6% gain. Crude oil ticked slightly higher after Saudi Arabia reportedly proposed a 4% output cut to Russia. There are no other reports due from the comdoll economies today. *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-28-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-oct-28-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-oct-28-2016/", "headline": "Forex Major Currencies Outlook (Oct 28, 2016)", "inLanguage": "en", "datePublished": "2016-10-28T06:46:53+00:00", "dateModified": "2016-10-28T06:46:53+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Oct 28, 2016). USD The US. 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