Europe Summary and Highlights 18 November
The USD and EUR were both stronger through the European morning session, with USD/JPY rising 30 pips up to 1.55, while EUR/USD was marginally firmer edging up to 1.0550, having hit a high of 1.0570 mid-session.
European morning session
The USD and EUR were both stronger through the European morning session, with USD/JPY rising 30 pips up to 1.55, while EUR/USD was marginally firmer edging up to 1.0550, having hit a high of 1.0570 mid-session. EUR/GBP gained 15 pips to 0.8355, but also saw a sharp gain mid-session to 0.8370. AUD and CAD were not much changed, but the EUR also gained ground against the NOK and SEK rising around 0.3% against both.
There was no obvious driver for the mid-session EUR surge, and it settled back fairly quickly, but it was accompanied by a rise in EUR yields that exceeded the gains elsewhere. Datawise there was nothing of any real interest.
Asia session
Bank of Japan Governor Ueda has given a speech and so far market participants have disappointed by the lack of direct cues of an imminent hike. However, they seems to have under read the weight of his comment on driver of Japan's inflation shifting towards rise in domestic wages, which is the critical inspect for further BoJ tightening. USD/JPY jumped to 155.13 before retracing to 154.52, to trade 0.16% higher for the session.
Regional sentiment is upbeat so far on Monday while U.S. three major equity indexes performing individually with the USD performing mostly stronger against peers. Yet, the Aussie benefited from the upbeat sentiment and is trading 0.18% higher at 0.6473, NZD/USD is down 0.1% to 0.5861 while USD/CAD also slipped 0.05 on higher oil. Else, EUR/USD is up 0.03% and GBP/USD up 0.11%.