Forex news for New York trading on November 15, 2017.

In other markets near the end of the NY session:

  • Spot gold fell $1.68 or -0.13% to $1278.66
  • WTI crude oil futures fell $.44 to $55.26
  • US treasury yields were lower: 2-year 1.683%, unchanged. 5-year 2.031%, -2.6 basis points. 10 year 2.3224%, -4.7 basis points. 30-year 2.767%, -6.3 basis points
  • The major US stock indices ended lower on the day. S&P index fell -0.55%. NASDAQ index fell -0.47%. Dow fell -0.59%

Today in the NY session, retail sales came in better than expectations at +0.2% vs. 0.00% estimate. The control group came in as expected +0.3%. The ex auto and gas also came in as expected at 0.3%. What was better was revisions. The headline number was revised to +1.9% from +1.6%. The control group was revised to +0.5% from +0.4%. The ex auto and gas was revised to +0.6% from +0.5%. Overall not bad.

CPI was also released.. The sharp rise from PPI yesterday to 2.8% was not duplicated in the CPI. YoY saw the headline come in as expected at 2.0%. The core measure was higher than expectations at 1.8% vs 1.7% but still remains below the target of 2.0% from the Fed.

In other data, Empire manufacturing was less than expectations at 19.4 versus 25.1, and business inventories came in as expected at unchanged for the month.

The Department of Energy inventory data for crude oil showed a rise in inventories of 1.85M barrels versus an estimate drawdown of -2.4 million. That helped to eventually lower the price of oil. It was trading down about -$0.44 toward the end of the day.

The USD had an up-and-down trading day and is ending the session mixed. The greenback rose the most versus the AUD. The AUD was hit early in the day session when wage data for the quarter came out weaker than expectation. The US dollar also rose against the CAD which was hurt by lower oil. The USD's gains against the loonie came down in the NY afternoon session. BOC Wilkens said that the Canadian economy is progressing strongly. The US dollar was weakest vs the JPY. A falling stock market and yields hurt the USDJPY and the JPY cross currency pairs - although price action was up and down reflecting the ups and downs in the stock and bond markets in the NY session.

The JPY pairs were heading back to the downside toward the end of the day as both stocks and bond yields were heading back lower. The S&P fell -0.55% and 10 year yields fell close to -5 bps and 30 years fell -6.5 bp.

For my technical thoughts on some of the major currency pairs, please visit the following post (CLICK HERE). I outline my views (with charts of course) for the EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD and even the Nasdaq.

For a look at the ups and downs in the GBPJPY (and why the 149.00 is key) CLICK HERE. The EURGBP is trading near its 100 day MA and key swing levels. Will it hold? CLICK HERE.

Finally, what would a day be like without some Bitcoin. To read about its near 9% run up today and what to watch going forward, CLICK HERE.

Good fortune with your trading.