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Currency Analyst since 2010

Nov. 6: MARKET REVIEW

EUR/USD recovered to 1.2520. ECB will announce its monetary policy decision on Thursday at 12:45 GMT. Don’t miss the ECB press conference that follows at 13:30 GMT.

USD/JPY tested 115.50, but then was rejected to 114.05: traders took profit as the pair’s advance has been too rapid and it’s now overbought.

GBP/USD is little changed just below $1.6000 as the market awaits the release of British manufacturing production at 09:30 GMT and the Bank of England’s meeting at 12:00 GMT.

AUD/USD recovered from a new 4-year low of 0.8550 to 0.8600 on labor data. Australian economy added 24K jobs in October versus 20K expected; unemployment rate unchanged at 6.2%.

 

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