Forex today: dollar high in Twitter-happy Trump and despite PPI miss

Forex today had the safe havens unwinding further and both US dollar and yields higher again on the continued theme around tax reforms from Twitter-happy Trump posting remarks of how the reforms need to be acted sooner than later. 

That really was all it took, in the absence of more data than just the miss in US PPI, to send the greenback to 92.53 highs from 91.90 opening price.  Markets are running with bullish possibilities for the US economy that are propelling stocks to new all time highs with financials leading the way due to rising yields.  However, disappointments could be on the way if Fed speakers at the beginning of this month were anything to go by while we await the 19-20th Sep FOMC outcome. First up, US CPI risk tomorrow.

Meanwhile, EUR was ending the day -0.69%, the pound -0.56%, the yen down -0.335 vs the dollar and the CHF -0.47%. As for the antipodeans, AUD was down -0.44% and the Kiwi -0.62%. CAD -0.07% while WTI rallied to $49.82 the high and up over a dollar on the day. Gold dropped over $15.00 and the 10-year benchmark yields were up over 1.00% at 2.1900%.

Key events for the Asian session

Analysts at Westpac highlighted the key events ahead: "Australia: Aug employment is expected by Westpac and the market to increase by 20k. However, the market sees unemployment steady at 5.6% while Westpac forecasts a tick up to 5.7%. Note that unemployment was rounded down from 5.65% in Jul. RBA Dep. Gov. Debelle speaks.

China: Aug industrial production, retail sales, and fixed asset investment are released.  As we approach the National Congress, will the growth impetus plateau?

NZ: An election poll (Colmar-Brunton) will be released at 6pm NZT. Previous polls have caused a reaction in the NZD."

Key notes from the US session 

OMB Director Mulvaney: Will be difficult to work with Democrats on tax reform - CNBC

US PPI: Core inflation maintains trend - Wells Fargo