Here is what you need to know on Friday, November 15:
Asian stocks remained a mixed bag, dragged by the mixed Chinese activity data and a pessimistic Wall Street close overnight. Despite a notable increase in China’s Retail Sales, the country’s disappointing Industrial Production and Fixed Asset Investment data amplify the economic concerns, keeping markets on edge.
An air of nervousness prevails amid a lack of certainty on the US Federal Reserve’s (Fed) future interest rates. Markets pared back expectations of a 25 basis points (bps) rate cut in December after Fed Chair Jerome Powell’s hawkish shift and the hot Producer Price Index (PPI) data released on Thursday.
Powell noted that the central bank does not need to rush to reduce rates, citing ongoing economic growth, a solid job market and sticky inflation as reasons for caution against easing policy too quickly. Meanwhile, annual headline PPI increased by 2.4% in October after rising by 1.9% in September and following Wednesday’s sticky US CPI inflation figures.
The market pricing for a 25 bps rate cut next month has dropped to about 69% from 83% a day ago, the CME Group’s FedWatch tool shows.
Increased expectations of fewer Fed rate cuts have provided extra legs to the Trump trades-driven rally in the US Dollar (USD) and the US Treasury bond yields. Traders now look forward to the US Retail Sales and Industrial Production data for fresh cues on the health of the economy, which could alter Fed easing expectations. A couple of Fed policymakers are scheduled to speak later in American trading.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.14% | -0.09% | 0.11% | 0.05% | -0.13% | -0.16% | -0.18% | |
| EUR | 0.14% | 0.05% | 0.23% | 0.20% | 0.00% | -0.02% | -0.03% | |
| GBP | 0.09% | -0.05% | 0.18% | 0.15% | -0.04% | -0.07% | -0.09% | |
| JPY | -0.11% | -0.23% | -0.18% | -0.02% | -0.23% | -0.27% | -0.28% | |
| CAD | -0.05% | -0.20% | -0.15% | 0.02% | -0.20% | -0.21% | -0.23% | |
| AUD | 0.13% | -0.01% | 0.04% | 0.23% | 0.20% | -0.03% | -0.07% | |
| NZD | 0.16% | 0.02% | 0.07% | 0.27% | 0.21% | 0.03% | -0.02% | |
| CHF | 0.18% | 0.03% | 0.09% | 0.28% | 0.23% | 0.07% | 0.02% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Across the Atlantic, the UK is due to report the preliminary third-quarter Gross Domestic Product (GDP) data alongside the Manufacturing Production data. Meanwhile, European Central Bank (ECB) officials are on the radar as markets are pricing in aggressive policy easing in the face of a worsening economic outlook.
Across the FX board, USD/JPY refreshed four-month highs at 156.75 before retracing gains to trade near 156.50. Japanese verbal intervention warnings rescued Japanese Yen buyers from the unimpressive Q3 GDP-induced pain.
Antipodeans shrug off the tepid risk tone and mixed Chinese data, continuing their recovery from multi-month troughs. AUD/USD is back above 0.6450 while NZD/USD regains 0.5850.
USD/CAD is trading sideways above 1.4050 amid a 1% sell-off in WTI Oil and ahead of the Canadian data set. The US oil is back in the red after giving up the $68 threshold again.
EUR/USD holds the rebound above 1.0500, awaiting ECB-speak and US data for further trading incentives.
GBP/USD remains capped below 1.2700, with traders refraining from placing fresh bets on the Pound Sterling ahead of the top-tier UK and US data releases. On Thursday, BoE policymaker Catherine Mann argued that the central bank should maintain rates at their current level until the upside risks to inflation.
Gold challenges the critical daily support at $2,545 as sellers fight back control amid sustained US Dollar demand.
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
Editors’ Picks
EUR/USD struggles to hold above 1.1000 after mixed EU data
EUR/USD is having a difficult time stabilizing above 1.1000 in the European session on Monday. The Eurozone Sentix Investor Confidence slumped to -19.5 in April while the annual February Retail Sales jumped 2.3%, limiting the pair's upside despite the broad US Dollar weakness.
GBP/USD reverses below 1.2900 despite US Dollar weakness
GBP/USD fails to sustain the recovery and reverses below 1.2900 in European trading on Monday. The pair shrugs off broad US Dollar weakness as risk sentiment takes a fresh hit, with European traders hitting their desks, weighing on the risk sensitive Pound Sterling.
Gold price holds above $3,000 amid a global meltdown; bulls seem non-committed
Gold price attracts some sellers near the $3,055 support-turned-resistance and stalls its intraday recovery from the $2,972-2,971 area, or a nearly four-week low touched earlier this Monday. Investors continue to unwind their bullish positions to cover losses from a broader meltdown across the global financial markets
Solana Price Forecast: Bears gain momentum as SOL falls below $100
Solana (SOL) extends its loss by over 7% and falls below the $100 mark at the time of writing on Monday after crashing 15.15% last week. Coinglass data shows that SOL’s leveraged traders wiped out nearly $70 million in liquidations in the last 24 hours.
Strategic implications of “Liberation Day”
Liberation Day in the United States came with extremely protectionist and inward-looking tariff policy aimed at just about all U.S. trading partners. In this report, we outline some of the more strategic implications of Liberation Day and developments we will be paying close attention to going forward.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.