The US dollar extended its run of good luck against major currencies on speculation Trump economic policies might lead to faster monetary tightening. US Treasuries continue to rise. EUR/USD traded higher to 1.0610. Now the pair slid back from its morning high to 1.0580. Keep in focus the ECB president Mario Draghi’s testimony before the European Parliament scheduled for 18:00 (Metatrader time). Traders will be watching for some comments from the president on the ECB’s bond-buying plans (will it be extended or not?).
USD/JPY traded below 111.2, its highest level since May. Aussie hit a 4.5-month low of 0.7315 hardly showing any sign of recovery, Upbeat Japan’s trade balance data passed unheeded.
GBP/USD is trading around 1.2340 level, having started off weakening in the early hours.
NZD/USD edged up to 0.7023 at the beginning of the Asian session, then it retreated under pressure from the strengthening dollar.
USD/CAD moved down to circa 1.3463. The Canadian dollar ceased to follow oil prices as their recent rally didn’t put new heart into Canada’s national currency. Oil prices rose on growing expectations that OPEC will find a way to cut production. Russian President sees a high probability of oil production cut, as numerous contradictions within OPEC started to fade away. According to the latest news, most OPEC members prepared to offer Iran flexibility on tits production volumes.
If not Draghi’s speech, this day would be lacking market drivers, as there are no significant statistical releases, important events scheduled for today.
Some good news that can support the euro in the long run
Former Prime Minister Francois Fillon in the center-right primary leads the race to take on Marine Le Pen’s anti-European platform. Fillon’s candidacy is more appealing to voters who want neither a Sarkozy comeback nor Juppe’s softer approach on the economy and social issues.
Angela Merkel will seek a fourth term as German chancellor. Despite the disapproval of her immigration policy, the majority of the German population is ready to vote for her party in the upcoming parliamentary election, according to the recent opinion polls.
The win of Fillon and Merkel is associated with stability in the euro zone. The rise to power of far-right parties can lead to significant changes in Europe.
USD/JPY traded below 111.2, its highest level since May. Aussie hit a 4.5-month low of 0.7315 hardly showing any sign of recovery, Upbeat Japan’s trade balance data passed unheeded.
GBP/USD is trading around 1.2340 level, having started off weakening in the early hours.
NZD/USD edged up to 0.7023 at the beginning of the Asian session, then it retreated under pressure from the strengthening dollar.
USD/CAD moved down to circa 1.3463. The Canadian dollar ceased to follow oil prices as their recent rally didn’t put new heart into Canada’s national currency. Oil prices rose on growing expectations that OPEC will find a way to cut production. Russian President sees a high probability of oil production cut, as numerous contradictions within OPEC started to fade away. According to the latest news, most OPEC members prepared to offer Iran flexibility on tits production volumes.
If not Draghi’s speech, this day would be lacking market drivers, as there are no significant statistical releases, important events scheduled for today.
Some good news that can support the euro in the long run
Former Prime Minister Francois Fillon in the center-right primary leads the race to take on Marine Le Pen’s anti-European platform. Fillon’s candidacy is more appealing to voters who want neither a Sarkozy comeback nor Juppe’s softer approach on the economy and social issues.
Angela Merkel will seek a fourth term as German chancellor. Despite the disapproval of her immigration policy, the majority of the German population is ready to vote for her party in the upcoming parliamentary election, according to the recent opinion polls.
The win of Fillon and Merkel is associated with stability in the euro zone. The rise to power of far-right parties can lead to significant changes in Europe.
(Discuss) Important news for this week. 21-25 Nov 2016
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