Today’s Outlook in the Currency Markets: Euro to Rebound Following Economic Stats

The week started on a quiet note as market influencing figures are quite limited. For most of the currencies, there are no substantial figures to provide direction. Key influencers for the day will be PMI figures for the private sector out of the U.S, as there was a reported increase this month of November. Investors also await Figures from Germany which comprises of IFO Business Climate Index, recent assessment and business confidence stats.

In the geopolitical sphere, President Trump made an announcement of both China and the U.S nearing the signing of a preliminary pact. This gave a boost to the dollar and other riskier assets earlier. Upcoming UK elections slated for December 12 also forms the highlight for the day.

Live interviews with top political leaders which are a reflection of the opinion polls and inferences will also sharpen the market.

Market Prices
Today, the safe-haven currency, the Japanese Yen was marginally weaker to the US dollar by 0.03% to trade at ¥108.69.

AUD rose by 0.06% to trade at 0.6790 versus the US dollar. The Kiwi Dollar traded down at 0.6409 versus the dollar to stand at -0.02%.

The EUR edged higher by 0.01% to stand at 1.1022 versus the dollar. Key influencers for the Euro price will be manufacturing figures from Germany, also its IFO Business Climate Index, recent assessment, and business confidence stats due out.

At the time of this report, the Pound edged higher by 0.13% to stand at 1.2851 versus the US dollar. Sterling also received a boost following Tories leading amidst major polls.

The Dollar propped up by President Trump’s recent announcement of both China and the U.S nearing the signing of a preliminary pact rose by 0.28% the previous week to close at 98.273.

CAD rose by 0.07% to C$1.3293, versus the U.S Dollar being impacted by the latest progress made in U.S trade talks.

On the Asian side, a response to the PMI figures released out of the United States and progress made in the US-China trade talks in the absence of substantial stats could be seen.