Forex Today: Cautious optimism prevails amid China woes, partial US market holiday

Disappointment with China’s 10 trillion yuan fiscal stimulus package and soft inflation data raise concerns over economic prospects, sagging investors’ confidence. China’s CPI rose 0.3% last month from a year earlier, slowing from September's 0.4% rise and the lowest since June, data from the National Bureau of Statistics showed on Saturday, missing a 0.4% increase estimated.

Looking ahead, it is a relatively quiet economic calendar In Europe while US traders observe a partial market holiday on Veterans Day. US bond markets are closed but stock markets will remain open this Monday. Across the G10 FX board, the Japanese Yen is the weakest so far, undermined by the uncertainty over the Bank of Japan’s interest rate hike timing.

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