FX News

FX Update: Big dollar on struggle street

Market Overview

Key Points:

• After last week’s drop in US inflation the US Dollar has extended declines.
• The New Zealand economy reported a rise in exports in October of 5.4B up from September’s 4.77B
• ECB’s Villeroy has suggested the ECB has been too aggressive with their policy and they should be more “modest” with future policy. The latest developments in Israel/Gaza suggest should significantly change the lower inflation forecast.
• Gold prices retest the 2000 area, however with a weaker USD it may deepen before making a charge higher.
• Thanksgiving holiday week (Friday) should see a drop in trading towards the end of the week with increased volatility.
• The Australian Dollar (AUD) has been the strongest currency over the month of November while the US Dollar (USD) has been the worst performer.

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