North American Summary and Highlights 20 Nov

November 20, 2025 8:23 PM UTC

Overview - The USD was little changed overall after initially slipping on a mixed US employment report, with EUR/USD former but the commodity currencies slipping with equities. 

Europe Summary and Highlights 20 November

November 20, 2025 11:15 AM UTC

The JPY recovered some ground through the European morning, with USD/JPY dropping 60 pips from the open at 157.78 to a low of 157.17 before bouncing slightly to 157.35.

Asia Summary and Highlights 20 Nov

November 19, 2025 8:39 PM UTC

BOJ’s Koeda signals need for further tightening as inflation holds near 2%

Europe Summary and Highlights 19 November

November 19, 2025 11:23 AM UTC

JPY weakness was the main feature of the European morning. 

North American Summary and Highlights 18 Nov

November 18, 2025 8:15 PM UTC

Overview - Equities remained under pressure but the pressure faded in the US afternoon, leaving mixed FX results.  

Europe Summary and Highlights 18 November

November 18, 2025 11:08 AM UTC

Then USD was mixed through the European morning, making some gains against the European currencies and the JPY, but falling back against the commodity currencies, reflecting a mild risk positive tone as equities edged back up after overnight losses.

North American Summary and Highlights 17 Nov

November 17, 2025 8:55 PM UTC

Overview -
Equity weakness meant a risk-off tone, with USD/JPY reaching a fresh high and the commodity currencies under pressure.

Europe Summary and Highlights 17 November

November 17, 2025 11:15 AM UTC

Then USD was generally firmer through the European morning, gaining against almost all the major currencies, with GBP holding its own, and scandis making some gains.

North American Summary and Highlights 14 Nov

November 14, 2025 8:45 PM UTC

Overview -
The USD ended little changed, rising in Europe before a slide early in North America, which was subsequently largely corrected.

Europe Summary and Highlights 14 November

November 14, 2025 11:17 AM UTC

Then USD was generally firmer through the European morning, gaining against almost all the major currencies, with only the CHF and GBP holding their own.

This week's five highlights

November 14, 2025 10:00 AM UTC

U.S. Government Reopens After Long Shutdown
This Week's Fed Speakers
UK GDP Shows Underlying Economy Listless
Japan/China Tensions Over Taiwan
Chinese CPI Rises Helped By Government Pressure

Asia Summary and Highlights 14 Nov

November 14, 2025 5:56 AM UTC

UK drops income-tax hike plans ahead of November budget
RBNZ’s confirmation that it will ease mortgage loan-to-value restrictions 

North American Summary and Highlights 13 Nov

November 13, 2025 8:51 PM UTC

Overview - The USD was mostly weaker but stronger against the commodity currencies as equities weakened. 

Europe Summary and Highlights 13 November

November 13, 2025 11:16 AM UTC

Then USD fell back across the board through the European morning.

North American Summary and Highlights 12 Nov

November 12, 2025 8:42 PM UTC

Overview - The USD was firmer in Europe led by USD/JPY, but lost momentum in North America. 

Europe Summary and Highlights 12 November

November 12, 2025 11:07 AM UTC

USD/JPY continued to advance through the European morning, making another new post February high at 154.91, with EUR/JPY making another new all time high at 179.30.

North American Summary and Highlights 11 Nov

November 11, 2025 8:37 PM UTC

Overview - GBP slipped after UK labor market data but labor market concerns also weighed on the USD.   

Asia Summary and Highlights 11 Nov

November 11, 2025 5:41 AM UTC

Japan economy minister Kuichi says the weak yen is pushing up prices, higher import costs

North American Summary and Highlights 10 Nov

November 10, 2025 8:47 PM UTC

Overview - Risk appetite was lifted by hopes of an end to the US governments shutdown but FX movements were modest. The EUR lost ground versus GBP, CHF and NOK.  

Europe Summary and Highlights 10 November

November 10, 2025 11:29 AM UTC

EUR/NOK dropped 4 figures to trade below 11.70 in the European morning, after stronger than expected October CPI data.

North American Summary and Highlights 7 Nov

November 7, 2025 8:38 PM UTC

Overview - USD/CAD fell on strong Canadian employment data. A weak Michigan CSI provided some weight on the USD but was offset as equites saw a late recovery on hopes for an end to the government shutdown.  

Europe Summary and Highlights 7 November

November 7, 2025 11:16 AM UTC

The USD moved slightly lower through a quiet European morning session.

This week's five highlights

November 7, 2025 10:00 AM UTC

Fiscal Elephant in the Room Ignored by BOE
RBA's Hawkish tilt
Norges Bank Ready For December Cut?
Riksbank Board Sticks to it Plans
Canada Budget Sees Larger Deficits, Slower Growth

Asia Summary and Highlights 7 Nov

November 7, 2025 5:38 AM UTC

Japanese September household spending +1.8% y/y
U.S. blocks Nvidia’s scaled-down AI chip sales to China

North American Summary and Highlights 6 Nov

November 6, 2025 8:52 PM UTC

Overview - US labor market concerns weighed on the USD and equities. The latter weighed on the commodity currencies.  

Europe Summary and Highlights 6 November

November 6, 2025 11:07 AM UTC

The USD saw some modest losses against GBP and the JPY through the European morning, with the scandis also making gains, while most other pairs were little changed.

North American Summary and Highlights 5 Nov

November 5, 2025 8:45 PM UTC

Overview - The USD made modest gains in Europe and US data was stronger than expected, which lifted USD/JPY and risk appetite.  

Europe Summary and Highlights 5 November

November 5, 2025 11:06 AM UTC

The USD made some very modest gains through the European morning, edging less than 0.1% higher against most currencies. 

North American Summary and Highlights 4 Nov

November 4, 2025 8:52 PM UTC

Overview - Weak equities meant risk off trade with GBP particularly weak on fiscal policy concerns. 

Asia Summary and Highlights 4 Nov

November 4, 2025 5:36 AM UTC

RBA hold as expected

North American Summary and Highlights 3 Nov

November 3, 2025 8:52 PM UTC

Overview - The USD slipped after weaker ISM manufacturing data but was mostly little changed. The CHF was weaker after a soft Swiss CPI. 

Europe Summary and Highlights 3 November

November 3, 2025 11:18 AM UTC

The EUR fell back in the European morning, dropping 25 pips to 1.1515 after failing a test of the 1.1540 resistance area in late Asia.

North American Summary and Highlights 31 Oct

October 31, 2025 6:56 PM UTC

Overview - The USD was slightly stronger, most notably versus the EUR. 

This week's five highlights

October 31, 2025 11:55 AM UTC

U.S-China Trade Tensions Ease, US-Canada Tensions Escalate
FOMC eases by 25bps, to conclude quantitative tightening on December 1
Bank of Canada Hawkish Ease with Current Rate Level Seen as Appropriate
7-2 Hold for BoJ
ECB Hedging its Bets

Europe Summary and Highlights 31 October

October 31, 2025 11:12 AM UTC

The USD was generally not much changed through a quiet European morning.

Asia Summary and Highlights 31 Oct

October 31, 2025 4:43 AM UTC

Tokyo October Headline CPI 2.8% y/y