U.S. Session Forex Recap – Nov. 27, 2015

  • U.S. traders enjoying the Thanksgiving holiday
  • Canadian quarterly corporate profits down by 5.9% in Q3

Dollar forex pairs were mostly in holiday mode, as U.S. traders were off enjoying Thanksgiving, but currency crosses still managed to make a few good moves.

Major Events:

ECB easing buzz – Without any major events on deck during the London and U.S. trading sessions, forex traders continued to speculate about the looming ECB easing announcement in December. Market watchers focused on the various monetary policy options on the table, dragging the euro lower against its counterparts.

Oil price slide – Crude oil was having a good day yesterday but wound up returning most of its recent gains. Brent crude oil failed to break past the $46/barrel level once more and retreated to $45.35/barrel (-1.97%) and WTI crude oil turned upon hitting resistance at $43/barrel and is down to $42.42/barrel.

Major Currency Movers:

EUR – Another day down in the dumps for the euro, as more and more traders began pricing in the likelihood of additional easing from the ECB next month.

EUR/USD is down 17 pips to 1.0607 (-0.16%), EUR/JPY is down 36 pips to the 130.00 handle (-0.27%), EUR/NZD is down 12 pips to 1.6133 (-0.08%), and EUR/CAD fell 20 pips to 1.4096 (-0.14%).

GBP – The pound was also one of the bigger movers in the past few hours, as forex traders are probably pricing in expectations ahead of the U.K. second estimate GDP release tomorrow.

GBP/USD tossed and turned between 1.5060 and 1.5125 (-0.17%), GBP/JPY struggled to keep its head above 185.00 (-0.27%), and EUR/GBP is still staying above the .7000 handle (+0.08%).

Watch Out For:

  • Japanese household spending data at 11:30 pm GMT (0.0% expected, +0.4% previous)
  • Tokyo core CPI at 11:30 pm GMT (-0.1% expected, -0.2% previous)
  • Japan’s national core CPI at 11:30 pm GMT (-0.1% expected, -0.1% previous)
  • Japanese jobless rate at 11: 30 pm GMT (no change from 3.4% previous)

See more:

Asian Session Recap

London Session Recap

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