Nov. 14: MARKET OVERVIEW
USD/JPY rose to 116.30 on a new wave of rumors that Prime Minister Abe will delay a sales tax hike as comments from the Japanese officials hint at such a possibility. In addition, the Fed’s Kocherlakota said that if inflation outlook rises, this will support a rate hike in 2015.
EUR/USD slid to 1.2430. The euro zone’s GDP due today: the region’s economy is expected to add 0.1% in Q3 after stagnating in the previous quarter. GBP/USD declined towards 1.5650.
AUD/USD slid below 0.8700. NZD/USD slid to 0.7840. Chinese Premier Li said that Chinese economy is still expected to face relatively big downward pressure next year.