Forex today: dollar was leaning against the 94.00-20 big pivot level

Forex today was mixed without a dominant theme.

The US dollar was leaning against the 94.00-20 big pivot level while the US 10yr yields rose from 2.30% to 2.35% after some strong economic data in the ISM Services that was the strongest headline number since 2005.

The Fed fund futures yields continued to price the chance of a December rate hike at 82% while the initial hit to the economy from hurricanes may not be as great as feared. 

Despite the political turmoil in Spain, the euro was confined to a 1.1745-1.1788 range which is a resilient performance given concerns Catalonia will secede from Spain. GBP/USD, pair ends NY unchanged by 1.3250, weighed by US data in NY.

USD/JPY remained rangebound, between 112.30 and 112.95. The high-beta FX got a small bounce from steady long rates on a quiet day that supported carry trades. As a result, AUD/USD moved 0.7838 and 0.7871 while the Kiwi dropped from 0.7190 to 0.7155. Gold remains weak, copper stuck but n a bullish trend while oil was lower despite the storage draw.

Key events in Asia

Analysts at Westpac noted the following: "Australia: Aug retail trade is seen to rise 0.3%. Westpac economics forecasts +0.2% as income growth remains muted, consumers are cautious due to pressures on finances, and business surveys point to weaker retail conditions. The Aug trade balance is expected to be a 0.9bn surplus but Westpac’s forecast is 0.5bn, in line with Jul’s figure. Export earnings are -0.2% with higher iron ore prices offsetting lower coal and LNG volumes, while the import bill is -0.3% on a stronger AUD.

Key notes from US session: 

WTI reverses and hits 2-week lows under $50 a barrel

Fed's Kashkari said to not be under consideration as next Fed chair - CNBC

US ISM Non-manufacturing: Supply disruptions boost headline  - Wells Fargo