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Survey of German companies Ifo on the agenda today

The dollar continues to stabilize over the week, although we see a slight pullback in the USD / JPY below 115.00 as Treasury yields also drop a bit.

It’s still early in the day, so we’ll see how things play out, especially with a wave of data releases coming later in the US, alongside the minutes of the FOMC meeting.

Elsewhere, the greenback is mostly firmer against the Aussie and the Kiwi, with the latter pulled lower after the RBNZ raised rates 25bp earlier today – dropping some who had hoped for a 50bp hike. pb.

NZD / USD returns to late September lows of 0.6860 while AUD / USD moves closer to its own late September lows of 0.7170. These will be key downside levels to watch for the respective pairs in the coming sessions.

Looking at other asset classes, US futures are down after another mixed performance yesterday as tech stocks lagged as the Nasdaq fell again while the Dow and S&P 500 managed to make gains at the end of the day.

Meanwhile, Oil follows the news rebound from the SPR (Sell Rumor, Buy In-Game Fact) publication with traders eyeing OPEC + response next week.

0745 GMT – France November business confidence

The older version can be found here. It is estimated that French confidence levels will hold up roughly as the economy holds up so far in the fourth quarter.

0900 GMT – Suisse Credit Suisse, investor sentiment in November

The older version can be found here. The reading measures analysts’ expectations for the Swiss economy and other economic expectations over the next 6 months.

0900 GMT – Germany November Ifo Business Climate Index

The older version can be found here. German trading conditions are expected to ease in November amid supply issues and mounting cost pressures, which are also worsening the virus situation across the country.

1100 GMT – Trends in total CBI UK orders in November

The previous version can be found here. CBI Readings is a survey of manufacturers to gauge the level of order volume expected over the next 3 months.

1200 GMT – US MBA Mortgage Applications November 19

The US Weekly Housing Data measures how the number of applications for MBA-backed mortgages has changed over the week.

That’s all for the upcoming session. I wish you the best of the days ahead and good luck with your trading! Stay safe there.


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