Forexlive European FX News: Positive risk tone dominates for start of the week

Author: Giles Coghlan | Category: News

Forex news for European morning of November 4, 2019

Other markets: 

  • Dax: +1.20%
  • UK FTSE: +1.05%
  • Euro Stoxx: +1.05%
  • France 40 (CAC): +1.10%
  • IBEX:+0.82%
  • Italian FTSE:+1.35%
  • US Oil: +1.07%

The European equity markets followed Asia's early lead on a continued ride on the back of a slew of positive comments from multiple sources on good progress with the US-China trade talks to start the week. On top of this there was talk that EU car tariffs may be suspended too which helped risk sentiment along very well.

NZD was the strongest on usual risk on flows into NZD, but also on the news that NZ and China will enhance their free trade agreement (FTA).  

Forex news for European morning of November 4, 2019
JPY and CHF were the weakest, again as you would expect, on the risk sentiment. 

European manufacturing PMI's 
There was a batch of European PMI's this am which the market largely shrugged off preferring to  focus on the improving risk sentiment. The new ECB President Christine Lagarde is due to speak later in Berlin this evening at 2030 GMT I think. This will be a key focus for the Euro as the market seeks a cue as to her likely first moves.

Aside from the above it has been an exceptionally quiet start to the week. with little other news/data.

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