Forex news for Nov 30, 2015:
- November 2015 US Chicago PMI 48.7 vs 54.0 exp
- November asset performance rundown
- November 2015 US Dallas Fed manufacturing index -4.9 vs -10. exp
- October 2015 US pending home sales 0.2% vs 1.0% exp m/m
- ISM Milwaukee 45.34 vs 46.66 prior
- 1 year UK inflation expectations drop in November to 1.2% from 1.4%
- Q3 2015 Canadian current account balance -16.21bn vs -15.3bn exp
- Fed releases Yellen statement ahead of meeting on lending
- BOE and UK government extend Funding for Lending scheme by 2 years
- November 2015 German HICP 0.3% vs 0.3% exp y/y
- Draghi likely to win over opposition to act - MNI
- Gold flat at $1064
- WTI crude down 3-cents to $41.68
- S&P 500 down 9.7 points to 2080
- US 10-year yields down 1.4 bps to 2.21%
- NZD leads, EUR lags
It was month end and flows were driving some of the trade. AUD continued its recent resilience on the heels of what looks like intervention in Chinese stocks. The euro sagged a bit further.
AUD/USD was a steady gainer after falling early in Asia. It climbed as high as 0.7249 but offers there halted the 70-pip climb and it sagged back to 0.7227. The gains in AUD this month despite dismal commodity performance is impressive.
Cable was in the spotlight with a barrier at 1.5000 under pressure. It finally gave way and fell a few pips before turning right back around and jumping to 1.5060. That's the kind of thing I expect we will see all week long.
EUR/USD was quieter as traders gear up for the ECB. Still, it touched a fresh low at 1.0557 before a miniscule bounce.
USD/JPY was up to 125.30 early then sagged back to 123.10 as stocks closed at the lows.
USD/CAD sold early on gains in oil but headlines about OPEC continuing to ramp up output sparked a wave of selling and oil hit $41.55 from $42.50. USD/CAD had fallen 60 pips to 1.3320 but later rebounded to 1.3360 and is now at 1.3340.
