Forex Today: Aussie weaker on RBA minutes, UK inflation report hearings eyed


Forex today was a mixed bag, with resurgent USD demand and mostly higher Asian equities driving the moves. Meanwhile, the RBA minutes turned out to be a big villain, souring sentiment around the AUD, with the Kiwi following the suit, little affected by better NZ credit card spending data. The yen, Euro, and gold were better bid amid the renewed North Korea risks after the US designated N. Korea as a state sponsor of terrorism.

Main topics in Asia

ECB's Villeroy - Don't wait to see French reforms to strengthen eurozone - Reuters

“The euro area can ill afford to wait and see if France’s reforms bear fruit before deepening the bloc’s economic integration.”

 RBA Minutes: sees `considerable uncertainty' around wage pressures

The RBA minutes were released and the AUD/USD has dropped over 10 pips on the release.

Japan’s Abe welcomes the US designation of N. Korea as sponsor of terrorism - Kyodo

Kyodo news reported comments from the Japanese PM Abe on Tuesday, responding to the US President Trump’s move of designating North Korea as a state sponsor of terrorism.

Trump administration asks Supreme Court to reinstate full travel ban – BBG TV

Headlines crossed the wires earlier today, via Bloomberg TV, citing that the Trump administration asked Supreme Court to reinstate full travel ban.

Key Focus ahead

Heading into Europe, the UK inflation report hearings will remain the main interest for the EUR, GBP traders amid a lack of significant news from the Euroland and UK docket. Also, of note will be the RBA Governor Lowe’s speech and UK industrial order expectations data. In the NA session, the Canadian wholesales sales, NZ GDT price index and the US existing home sales data will be reported.

GBP/USD: Bulls in a wait-and-see mode ahead of BOE’s inflation hearings

The overnight rebound in the GBP/USD pair lost legs just shy of 1.3250 mark, with the bears now push the rate back towards the NY lows of 1.3224 amid resurgent USD demand and North Korea headlines.

Will Merkel's Political Troubles Send EURO to 1.16?

The week of Thanksgiving is typically a quiet one for currencies because many U.S. traders are off for the whole week.  

EUR/USD - Trendline offers support & risk reversals shed bullish bias, what's next?

EUR/USD closed below the 100-day MA yesterday but failed to cut through the support offered by the trendline sloping downwards from the Sep. 8 high and Sep. 20 high. 

Australia Q3 construction work done preview - NAB

Analysts at National Australia Bank (NAB) note that the key risk event for the Aussie this week will be the Q3 construction work done due on the cards tomorrow.

GMT
Event
Vol.
Actual
Consensus
Previous
Tuesday, Nov 21
09:00
 
 
09:05
 
 
09:30
 
£6.600B
£5.326B
10:00
 
 
11:00
 
3
-2
13:30
 
0.20
0.17
13:30
 
0.6%
0.5%
13:55
 
 
2.3%
13:55
 
 
-1.2%
n/a
 
 
-3.5%
15:00
 
5.43M
5.39M
15:00
 
0.7%
0.7%
15:00
 
 
16:30
 
 
1.045%
20:30
 
 
6.513M
21:45
 
 
3.1%
23:00
 
 
23:30
 
 
0.1%
Wednesday, Nov 22
00:30
 
 
9.3%
08:00
 
 
n/a
 
 
1.87%
12:00
 
 
3.1%
n/a
 
 
13:30
 
 
249K
13:30
 
 
1.86M

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD advances toward 1.0750 on renewed US Dollar selling

EUR/USD advances toward 1.0750 on renewed US Dollar selling

EUR/USD is extending its mild recovery toward 1.0750 early Europe on Tuesday. Risk flows remain and exert additional downside pressure on the US Dollar while Euro traders reposition ahead of Sunday's French election. Mid-tier US data and Fedspeak stay in focus.

EUR/USD News

GBP/USD recovers to 1.2700 as US Dollar weakness extends

GBP/USD recovers to 1.2700 as US Dollar weakness extends

GBP/USD is recovering to test 1.2700 in the European morning on Tuesday. Extended US Dollar weakness due to improved market mood, aids the pair's latest uptick. Traders look to the US sentiment data and Fed speeches for further impetus, as the UK calendar remains data-quiet. 

GBP/USD News

Gold price edges lower amid cautious Fed rhetoric

Gold price edges lower amid cautious Fed rhetoric

Gold price attracts some sellers in Tuesday’s early European session. The stronger US economic data and the Fed's hawkish stance continue to underpin the yellow metal. 

Gold News

Bitcoin breaks below descending wedge, finding support on key level

Bitcoin breaks below descending wedge, finding support on key level

Bitcoin spot ETFs record a $174.5 million outflow on Monday, marking seven consecutive days of continuous decline. Mt.Gox announces Bitcoin and Bitcoin Cash repayment to creditors in July.

Read more

Canada CPI Preview: Inflation expected to continue easing in May

Canada CPI Preview: Inflation expected to continue easing in May

The Canadian CPI is expected to rise at an annual rate of 2.6% in May, a tad slower than a 2.7% increase in April. On a monthly basis, the CPI inflation is seen easing to 0.3% in the same period after April’s 0.5% growth. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures