Nov. 17: MARKET REVIEW
USD/JPY touched levels above 117 as Japan's economy unexpectedly slipped into recession (GDP fell by annualized 1.6%), but then slipped to the 115.50 area, because Japanese stocks were hit by the news. Nikkei fell by 2.6%.
EUR/USD pushed higher to 1.2530 after having closed above the 1.2500 figure last week. Watch the German Bundesbank monthly report and the ECB Draghi’s speech later in the day.
GBP/USD edged up to $1.5735 after testing $1.5600 in Friday.
AUD/USD pushed to 0.8790. NZD/USD gapped higher, pushing to 0.7975 amid better-than-expected retail sales data.