- EUR/USD breaks November high (by 1 pip)
- US Nov CPI +1.8% y/y vs +1.9% exp
- US industrial production +1.1% vs +0.2% exp
- Markit US PMI hits highest since April
- Canadian manufacturing sales -1.4% vs -0.1% exp
- Unimaginable tragedy in US
- Spanish house prices down 15% y/y
- Italy affirmed at A- by Fitch; outlook negative
- RBS recommends GBP/USD short
- BofA CEO says housing shows signs of ‘real, sustained recovery’
- AUD longs at record high in CFTC report
- S&P 500 down 0.4% to 1413 as Apple weighs
- EUR leads, CAD lags on day
- EUR leads, JPY lags on week
What can you say about the break of 1.3172 in EUR/USD? It broke but it was by one pip and that’s a fine line technically. I tend to fall on the side that says — wait and see what happens Monday.
Shortly after the start of US trading, the dollar began a steep fall. The reasons for the decline aren’t particularly clear. There is some chatter about a ‘tactical retreat’ from Republicans on tax cuts, which could be construed as positive for risk assets but bad for USD — but it takes a few leaps of logic to get there.
Have a great weekend.
