- ECB’s Hansson hints at more interest rate cuts
- Switzerland’s employment level at 4.20M vs. 4.19M expected
- U.K. BBA mortgage approvals falls from 43,182 to 42,808 in October
- Germany’s DAX hits all-time high above 9300
The early London session trading saw a bit of profit-taking in the European currency pairs as EUR/USD was dragged to its 1.3500 support by ECB’s Hansson’s comments about more interest rate cuts. Cable also dipped below 1.6200 at the release of a disappointing BBA mortgage approvals data. Even USD/JPY saw profit-taking right before it hit the 102.00 psychological handle.
The comdolls also got a breather as overall risk appetite supported demand for the higher-yielding currencies. AUD/USD bounced at the .9120 area, USD/CAD encountered resistance right below 1.0600, and NZD/USD is now trading just above .8200.
Only the U.S. pending home sales at 4:00 pm GMT, SNB Chairman Jordan’s speech at 5:30 pm GMT, and RBA Deputy Governor Lowe’s speech at 11:15 pm GMT are left on the docket today. Will we see a strong U.S. report that would push USD/JPY firmly above 102.00? How about more jawboning from the central bankers? Don’t even think of missing these reports!
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!