The Euro (EUR) is trading softly on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) is little changed on the session.
South Africa SARB Interest Rate Decision in line with forecasts (7.75%)
The US Dollar (USD) is mixed to somewhat firmer on the day.
Russia Central Bank Reserves $ dipped from previous $620.8B to $611.6B
The US Dollar (USD) is trading flat on Thursday at around 106.50 when tracked by the DXY US Dollar Index, afterNew York Fed President John Williams said that inflation continues to cool down, opening the door for a further drop in interest rates.
Mexico Retail Sales (YoY) came in at -1.5% below forecasts (-1.2%) in September
Mexico Retail Sales (MoM) in line with expectations (0.1%) in September
The USD/JPY pair slides to near 154.00 in Thursday’s European session.
Crude Oil prices are trying to break above $70 for a second consecutive day, fueled by headlines that Russia has launched a ballistic missile into Ukraine for the first time in the war, Bloomberg reports.
EUR/GBP continues trading in a range. The pair is probably now in a sideways trend and given the principle of technical analysis that “the trend is your friend” it will probably continue oscillating until it makes a decisive breakout one way or another.
Gold (XAU/USD) extends its recovery into a fourth day on Thursday, rising up into the $2,670s during the European session.
Headline SMEI edged down 0.3pts to 50.4 in November; credit conditions continued to improve.
AUD/USD has formed an interim trough near 0.6440 last week and has staged an initial bounce, BBH analyst note.
The Dollar Index (DXY) rose 0.7% to a high of 106.92 on geopolitical risks before better tech earnings fuelled a late US stock market rally and lowered the DXY to 106.65 overnight, DBS’ Senior FX Strategist Philip Wee notes.
Anyone who thought that the significant downward surprise in September's UK inflation figures would be repeated seamlessly in October was disappointed yesterday.
Turkey’s central bank (CBT) is scheduled to meet today for a rate decision: it is unanimously expected that the central bank will leave its key rate unchanged at 50%, Commerzbank’s FX analyst Tatha Ghose notes.
Oil prices have been somewhat insulated by the growing tension between Russia and Ukraine.
Scope for the US Dollar (USD) to rise to 7.2630; the major resistance at 7.2800 is likely out of reach.
The USD/CHF pair consolidates in a tight range below 0.8850 in European trading hours on Thursday.
Given South Africa's exposure to China, the rand has been hit hard by the US election result and what it will mean for the Chinese economy and world trade next year, ING’s Chris Turner notes.
Last month (17 Oct), the European Central Bank (ECB) slashed interest rates, lowering policy rates by 25bps.
The US Dollar (USD) could pull back further; any decline is likely limited to a test of 154.35.
European Central Bank (ECB) Governing Council member Yannis Stournaras said on Thursday that “trade tariffs are likely to provoke a response.
The Central Bank of Turkey (CBT) is expected to leave rates unchanged at 50% today.
The New Zealand Dollar (NZD) could retest the 0.5865 level before a rebound is likely; the strong support at 0.5850 is unlikely come under threat.
Silver price (XAG/USD) appreciates to near $31.10 per troy ounce during the European hours on Thursday.
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data.
EUR/CHF remains on the low near 0.93, ING’s Chris Turner notes.
The Australian Dollar (AUD) is expected to trade between 0.6485 and 0.6535.
EUR/USD remains vulnerable above the psychological support of 1.0500 in European trading hours on Thursday.
The Mexican Peso (MXN) consolidates in its most-heavily traded pairs during the European session on Thursday.
EUR/USD looks to have been buffeted by events in Ukraine this week.
The AUD/USD pair attracts some dip-buyers on Thursday and sticks to its modest intraday gains, around the 0.6520 area during the first half of the European session.
Further range trading appears likely; soft underlying tone suggests a lower range of 1.2615/1.2685.
The DXY dollar index is holding gains and it is not hard to see why.
USD/CAD retraces its recent gains from the previous day as the commodity-linked Canadian Dollar (CAD) receives support from the improved crude Oil prices amid rising fears of supply disruption amid geopolitical tensions.
The Euro (EUR) is likely to trade in a range between 1.0505 and 1.0575.
NZD/USD extends its losses for the second consecutive day, trading around 0.5860 during the European hours on Thursday.
The Pound Sterling (GBP) weakens against most of its peers on Thursday even though traders doubt whether the Bank of England (BoE) will cut interest rates again in the December meeting.
France Business Climate in Manufacturing above expectations (95) in November: Actual (97)
United Kingdom Public Sector Net Borrowing: £17.354B (October) vs £16.613B
United Kingdom Public Sector Net Borrowing: £17.4B (October) vs £16.613B
Turkey Consumer Confidence down to 79.8 in November from previous 80.6
United Kingdom Public Sector Net Borrowing dipped from previous £16.613B to £-17.4B in October
The GBP/JPY cross pares its recent gains, trading around 195.80 during the early European hours on Thursday.
Here is what you need to know on Thursday, November 21: The US Dollar (USD) Index stays in a consolidation phase near 106.50 after closing in positive territory on Wednesday.
Sweden Capacity Utilization dipped from previous 0.6% to -0.9% in 3Q
The US Dollar Index (DXY) trades with mild losses around 106.50 during the early European session on Thursday.
In a Barron’s interview published on Thursday, New York Federal Reserve Bank (Fed) President John Williams said that he “sees inflation cooling and interest rates falling further.” He further noted that “2% is the rate that can best balance the central bank’s employment and price stability goals.” .
More comments flowing in from Bank of Japan (BoJ) Governor Kazuo Ueda, as he now speaks on the monetary policy and the exchange rate value.
Speaking at a conference in Tokyo on Thursday, European Central Bank (ECB) policymaker Francois Villeroy de Galhau said that “the balance of risks on growth and inflation is shifting to the downside.” Additional comments Victory against inflation is in sight in Europe.
Netherlands, The Consumer Confidence Adj down to -25 in November from previous -22
Netherlands, The Unemployment Rate s.a (3M) unchanged at 3.7% in October
EUR/GBP appreciates after two days of losses, trading around 0.8340 during the Asian hours on Thursday.
FX option expiries for Nov 21 NY cut at 10:00 Eastern Time via DTCC can be found below.
Bank of Japan (BoJ) Governor Kazuo Ueda doesn’t touch upon monetary policy and economic outlook during his scheduled appearance on Thursday.
The AUD/JPY cross trades in a narrow range near 101.05 during the early European session on Thursday.
The USD/CHF pair struggles to capitalize on the previous day's recovery from the vicinity of the 0.8800 mark or a one-week low and attracts fresh sellers during the Asian session on Thursday.
EUR/USD appreciates slightly after registering losses in the previous session, trading around 1.0550 during the Asian hours on Thursday.
Gold prices rose in India on Thursday, according to data compiled by FXStreet.
Four Chinese government advisers advocated for a 2025 growth target of around 5%, similar to this year, Reuters reported on Thursday.
The EUR/JPY cross meets with a fresh supply following the previous day's good two-way price swings and trades around the mid-163.00s during the Asian session on Thursday, down 0.20% for the day.
GBP/USD edges higher to near 1.2650 during the Asian trading hours on Thursday.
Gold price (XAU/USD) prolongs its weekly uptrend for the fourth straight day and climbs to the $2,660 area, or a fresh one-and-half-week high during the Asian session on Thursday.
The Indian Rupee (INR) extends its decline on Thursday. The heightened geopolitical tensions and market reactions due to Donald Trump’s victory in the US presidential elections drag the local currency lower.
Silver price (XAG/USD) retraces its recent losses from the previous session, trading around $31.00 during the Asian hours on Thursday.
The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on Thursday and drags the USD/JPY pair away from the weekly top touched the previous day.
The Australian Dollar (AUD) retraces its recent losses on Thursday, buoyed by a hawkish outlook from the Reserve Bank of Australia (RBA) concerning interest rates.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $68.95 on Thursday.
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1934, as compared to the previous day's fix of 7.1935 and 7.2482 Reuters estimates.
The European Central Bank (ECB) Governing Council member Yannis Stournaras said on Wednesday that the Eurozone is on the cusp of sustainably reaching 2% inflation, putting the onus on officials to avoid undershooting that goal, per Bloomberg.
Federal Reserve Bank of Boston President Susan Collins said on Wednesday that more interest-rate cuts are needed, but policymakers should proceed carefully to avoid moving too quickly or too slowly, per Bloomberg.
EUR/USD bulls frayed at their ends during the midweek hump session, giving back nearly half of a percent and keeping Fiber price action hamstrung just north of the 1.0500 major handle.
The USD/CAD pair trades on a softer note around 1.3970 amid the modest decline in the Greenback during the early Asian session on Thursday.
Japan Foreign Investment in Japan Stocks fell from previous ¥513.9B to ¥127.6B in November 15
GBP/USD struggled to find a direction on Wednesday, testing the bounds of the 1.2700 handle before facing a downside rejection and ending the midweek market session a fifth of a percent lower than it started.
The NZD/USD pair posts modest gains to around 0.5875 during the early Asian session on Thursday.
Silver's price retreats over 1.14% on Wednesday, yet it remains up 1.90% in the week as traders ditch the grey metal in favor of the Greenback.
The Canadian Dollar (CAD) is back to its losing ways, backsliding 0.1% against the Greenback on Wednesday.