Aussie is trading in tight range above 0.9 against dollar after earlier dive this week. The RBA minutes for September meeting reiterated the central bank's neutral stance to keep interest rate at current level of 2.50% for a period of time. Also, it also maintained the message that exchange rate of the currency remains above its fundamental value. Meanwhile, RBA showed concern over speculations in the housing markets. It highlighted the risk that over speculation could set up for steep fall in property prices later. And the main risks would be on the "stability of the macro economy rather than the financial system" if households cut back their spending in response to declines in wealth.
Elsewhere, dollar continues to consolidate against other major currencies as markets await FOMC policy statement later this week. The main focus is on whether FOMC would drop "considerable time" in reference to when Fed would starting hiking rates after stopping the asset purchase program and associated vote on the change in language. Sterling is slightly softer in tight range ahead of the Scottish Independence vote. Swiss franc is also in consolidation against euro ahead of SNB rate decision.
As for today, UK inflation data will be a focus as CPI is expected to be unchanged at 1.6% yoy in August. German ZEW economic sentiment is expected to drop to 5.6 in September while Eurozone ZEW is expected to drop to 21.3. US PPI is expected to climb to 1.8% yoy in August as PPI core would climb to 1.7% yoy.