FXStreet (Guatemala) – The FX market was in a phase of consolidation after taking some profits out of the USD.
Stocks in the US were the main event today, which helped the dollar to some extent, but focus was much more about next week. There was finally no chatter around Ebola but more on the condition in Europe. Draft copies of the stress test were leaked and it seems that there are 25 banks that have been or will be confirmed to be required to raise money with 10 out of the 190 that are on the watch list.
GBP/USD was consolidating after an up day in Europe despite the inflation results that actually tailed off and is now sitting at just 1.2% headline CPI. The core printed at 1.5% and hopes for an early rate rise are diminished. 1.61 was the highs and ranges below were down to 1.6017.
USD/CAD bulls defied the bears and the 1.12 handle remained in formation for the session after a little test below the figure. The pair was meeting supply through 1.1240 and was capped within a range here.
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FXStreet (Barcelona) – Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted the mixed outcomes of the last of this weeks European market data today while we entering a key timing in the FX space.
“Data out of Europe today was mixed”.
“Germany reported November GfK consumer confidence at 8.5 vs. 8.0 consensus and 8.3 in October”.
“Italy reported August retail sales at -3.1% y/y, considerably worse than the -1.7% reported in July.” For more information, read our latest forex news. FXstreet.com: Latest News
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