The dollar held a bit more of a mixed mood since trading yesterday with EUR/USD falling to its lowest levels since October 2023, breaking below 1.0500, but USD/JPY eased further as it dipped back under the 155.00 mark. It is making for a trickier end to the week with broader markets also rallying for the most part.
Equities pushed up yesterday but largely to small caps with the S&P 500 ending up 0.5% but the Nasdaq was flat. Meanwhile, gold and oil are also both catching bids this week with geopolitical tensions arguably part of the mix. Besides that, we have Bitcoin inching closer towards the inevitable pull of $100,000.
So, that sort of speaks to the broader market mood we’re seeing during the week.
For today though, economic data will start to come back into focus. Looking to the session ahead, we will have retail sales data from the UK but the more pertinent one will be the PMI data. That will encompass the euro area, UK, and US later on in the day.
Given the lack of catalysts for traders to work with, this might just offer something at the last minute before we break for the weekend.
0700 GMT – Germany Q3 final GDP figures0700 GMT – UK October retail sales0815 GMT – France November flash manufacturing, services, composite PMI0830 GMT – Germany November flash manufacturing, services, composite PMI0900 GMT – Eurozone November flash manufacturing, services, composite PMI0930 GMT – UK November flash manufacturing, services, composite PMI
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
This article was written by Justin Low at www.forexlive.com.
