Euro set for monthly decline

The euro is set for its longest stretch of weekly declines versus the yen since the common currency’s creation in 1999 as anticipation builds that the European Central Bank will surprise some investors with the size of its stimulus next week. The single currency is also headed for its biggest monthly loss since March versus the greenback.

Australia’s dollar is poised to end a series of weekly gains as there are increasing expectations that the Reserve Bank of Australia will lower benchmark rates in the first quarter of 2016.


• USD/JPY quiet early in Asia post-US Thanksgiving holiday, fell towards end of session to 122.38
• Crosses steady – EUR/JPY 130.02-15, bias down, GBP/JPY 184.95-185.31.
• AUD/JPY 88.40-72, NZD/JPY 80.34-68, both buoyant on demand for yield.

• EUR/USD does little in Asia post-US Thanksgiving, 1.0601-16
• Consensus building for ECB move on rates in December, more QQE next year.

• GBP/USD does little, 1.5091-1.5105 in Asia, little interest, consolidation.
• EUR/GBP quiet too, 0.7019-32 in Asia.

• USD/CHF does nothing, Asia range 1.0235-40.
• Bias still up on diverging central bank expectations (Fed-SNB).
• EUR/CHF 1.0852-69, treading water.

• AUD/USD opens Asia at 0.7225, trades 0.7214-33, trading lifeless.
• Support pre-0.7200, o/n low 0.7210.
• Base metal rally offsetting effects of yesterday’s CAPEX shocker.
• Month-end flows eyed Monday, China PMI and RBA meeting Tuesday.

• NZD/USD Asia open 0.6566, non-descript 0.6556-79 range, volume low.
• Lack of local/Australia leads too, month-end Monday factor too.
• China SDR announcement, RBA/ECB meetings, US NFP too.

The post Euro set for monthly decline appeared first on FXTM Blog.

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