Dollar fell Monday but started rebounding during Asian Tuesday

•       Dollar fell Monday but started rebounding during Asian Tuesday

–      Once again, payrolls fail to determine the dollar’s course the next week

–      EUR/USD rose even though German factory orders fell sharply

–      US rates fell, all Friday’s rise in Fed funds futures was unwound for no obvious reason

•       RBA softens comment on FX; AUD little changed

–      RBA keeps rates stable, as was unanimously foreseen

–      Softens a bit its comment on AUD; removes the line saying it “remains above most estimates of its fundamental value,” although it still say sit “remains high”

–      Conclusion on rates totally unchanged

•       BoJ announcement delayed after Kuroda called to attend Diet

–      Talk is that a majority if the Board members favor dropping the two-year time frame for meeting inflation targets, according to Bloomberg. That would be JPY-negative

•       Today:

–      Europe: Industrial production for August from Germany, Norway, UK

–      US: Job Opening and Labor Turnover Survey (JOLTS) for August; number of jobs openings expected to increase marginally

–      Speakers:  Minneapolis Fed’s Kocherlakota (big dove), NY Fed’s Dudley (moderate dove)