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

 

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