USD Dollar (USD)

The Dollar strengthened against most majors after ADP Non-Farm Employment came out worse than expected at -169K vs. -149K forecast showing employment is still troubled by the recession increasing demand for the Dollar as safety. The Beige book was released saying consumer spending has improved and the U.S economy is improving. NASDAQ rose by 0.42% and Dow Jones weakened by -0.18%. Crude oil fell by -2.3% to 76.6$ a barrel after the inventories report showed increases in the supply instead of a decrease expected. Gold (XAU) rose by 1.2% reaching a new record and closed above 1214 an ounce. Today, Unemployment Claims is expected at 479K vs. 466K prior, ISM Non-Manufacturing PMI expected to slightly rise from 50.6 to 51.6, Fed Chairman Bernanke Testifies.

EURO (EUR)

The Euro weakened versus the Dollar after disappointing employment figures in the U.S were released. Overall, EUR/USD traded with a low of 1.5032 and with a high of 1.5109.Today, Retail Sales is expected at 0.2% vs. -0.7% prior, Interest Rate Decision is expected to remain at 1%, ECB President Trichet Speaks.

British Pound (GBP)

The Pound rose to the highest level in almost a week against the Dollar after a report showed the pace of contraction in the U.K. construction industry slowed and investor concern eased that Dubai World may default. Overall, GBP/USD traded with a low of 1.6548 and with a high of 1.6694.Today, Services PMI is expected at 57.1 vs. 56.9 prior.

Japanese Yen (JPY)

The Yen fell against all of its major counterparts after Japan’s Prime Minister Yukio Hatoyama said the currency’s strength can’t be left as it is and investors expect action. Capital Spending came out worse than expected with -24.8% versus -15.8% expected. USD/JPY traded with a low of 86.59 and with a high of 87.48. No economic data expected today.

Canadian dollar (CAD)

The Canadian Dollar weakened against its U.S. counterpart as Crude Oil tumbled along with other commodity prices, diminishing the appeal of currencies tied to growth. Overall, USD/CAD traded with a low of 1.0431 and a high of 1.0514. No economic data expected today.

USD Dollar (USD)

The Dollar weakened versus most majors as better than expected housing data was released and the Dubai effect fades away. Pending Home Sales came out surprisingly positive with 3.7% versus -0.4% decline expected. ISM Manufacturing PMI was released with 53.6 weaker than 54.8 forecasted. NASDAQ gained by 1.46% and Dow Jones reached new yearly highs with 1.23% change. Crude gained by 0.75% closing at 77.86$ a barrel and Gold (XAU) gained by 1.25% closing at new record highs with 1195.9$ an ounce after reaching the 1200$ mark. Today, ADP Non Farm Employment Change is expected with -149K versus -203K prior. FOMC Member Lacker will speak and the Fed\’s Beige Book will be released giving more information on future monetary policy decisions. Crude Oil Inventories are expected with -0.4M decrease versus 1M prior, and could result volatile prices.

EURO (EUR)

The Euro continued to climb versus the Dollar as Dubai\’s effect fades off and equity markets continue rising. Euro Zone Unemployment Rate came out 9.8% as expected and German Unemployment Change came out better with -7K decrease versus 5K increase expected. Overall, EUR/USD traded with a low of 1.4971 and with a high of 1.5117. Today, PPI is expected with 0.1% versus -0.4% prior.

British Pound (GBP)

The Pound rose versus the Dollar after Housing Prices showed an increase of 0.4% higher than 0.3% expected and Dubai\’s crisis concerns eased. Manufacturing PMI came out weaker with 53.6 versus 54.1 expected. Overall, GBP/USD traded with a low of 1.6390 and a high of 1.6646. Today, Construction PMI is expected with 46.9 versus 46.2 prior. MPC Member Dale will speak today at Essex.

Japanese Yen (JPY)

The Yen weakened versus the Dollar and the Euro after BOJ announced it will provide 115 billion Dollars for 3 month loans at 0.1%. Monetary Base came out weaker with 3.8% versus 4.7% expected. Overall, USD/JPY traded with a low of 86.16 and a high of 87.53 and EUR/JPY traded with a low of 129.32 and a high of 131.27. Today, Capital Spending is expected with -15.8% versus -21.7% prior.

Canadian Dollar (CAD)

The Canadian Dollar rose versus the Dollar as investors shift back to higher yielding assets. Australian government raised its overnight interest rate by 0.25% supporting other commodity linked currencies such as the Canadian Dollar. Overall, USD/CAD traded with a low of 1.0405 and a high of 1.0576. No economic data expected today.

The Dollar weakened slightly versus the other majors as Dubai\’s crisis seem to have been contained. Chicago PMI came out stronger with 56.1 versus 53.4 expected. NASDAQ and Dow Jones gained by 0.29% and 0.34% after trading in the red zone for most of the trading session. Crude gained by 1.81% closing at 77.43$ a barrel and Gold (XAU) gained by 0.59% change closing at 1181.1$ an ounce. Today, ISM Manufacturing PMI is expected lower with 54.8 versus 55.7 prior and Pending Home Sales are expected with -0.4% change versus 6.1% prior.

EURO (EUR)

The Euro gained slightly versus the Dollar as risk appetite resumed following UAE\’s pledge to back Dubai\’s banks. CPI Flash Estimate came out 0.6% better than 0.5% expected. Overall, EUR/USD traded with a low of 1.4971 and with a high of 1.5084. Today, Euro Zone Unemployment Rate is expected worse with 9.8% versus 9.7% prior. German Unemployment Change is expected worse with 5K versus -26K prior.

British Pound (GBP)

The Pound declined versus the Dollar after Net Lending to Individuals came out only 0.3B versus 0.8B expected, reducing expectations for a decrease in the QE program. Mortgage Approvals came out weaker with 57K versus 59K expected. Overall, GBP/USD traded with a low of 1.6380 and a high of 1.6593. Today, Manufacturing PMI is expected stronger with 54.1 versus 53.7 prior. MPC Member Posen will speak in London.

Japanese Yen (JPY)

The Yen gained slightly versus the Dollar after BOJ Governor Shirakawa said he will meet Prime Minister Hatoyama to discuss the Yen and the monetary policy following recent Yen movement. Overall, USD/JPY traded with a low of 85.86 and a high of 86.85 and EUR/JPY traded with a low of 128.97 and a high of 130.82. Today, Monetary Base is expected with 4.7% versus 4.4% prior.

Canadian dollar (CAD)

The Canadian Dollar strengthened versus the Dollar after UAE pledged to stand behind Dubai\’s banks lifting risk appetite and demand for higher yielding assets. GDP came out 0.4% as expected for the first quarterly gain in a year. RMPI came out weaker with 2.5% versus 3.1% forecast. Overall, USD/CAD traded with a low of 1.0533 and a high of 1.0613. No economic data expected today.

USD Dollar (USD)

The Dollar lowered versus most majors on Friday as Dubai debt concerns were reduced due to UAE’s pledge to back foreign and domestic banks in Dubai. NASDAQ and Dow Jones dropped by -1.73% and -1.48% after being closed on Thursday due to Thanksgiving. Crude fell by -2.45% closing at 76.05$ a barrel and Gold (XAU) fell for the first time in 9 days with -1.08% change closing at 1174.2$ an ounce. Today, Chicago PMI is expected weaker with 53.1 versus 54.2 prior.

EURO (EUR)

The Euro gained slightly versus the Dollar on Friday’s session as liquidity was lower and stocks declined as a result of Dubai’s financial crisis. The Euro paired its losses as rumors of the UAE backing Dubai’s bank leaked to the market. EUR/USD traded with a low of 1.4828 and with a high of 1.50. Today, CPI Flash Estimate is expected with 0.5% versus -0.1% prior.

British Pound (GBP)

The Pound gained versus the Dollar after UAE’s pledge to back Dubai raised risk appetite again lifting the Pound from its monthly lows. Overall, GBP/USD traded with a low of 1.6271 and a high of 1.6510. Today, Net Lending to Individuals is expected with 0.8B versus 0.6B prior, stronger result will lead to less need to expend Britain’s QE program. Mortgage Approvals are expected stronger with 59K versus 56K prior.

Japanese Yen (JPY)

The Yen weakened versus the Dollar as uncertainty about the Dubai crisis lowered following UAE’s announcement. Investors shifted back from the safety of the Yen to higher yielding currencies. Overall, USD/JPY traded with a low of 85.08 and a high of 87.01 and EUR/JPY traded with a low of 127.38 and a high of 130.14. No economic data expected today.

Canadian dollar (CAD)

The Canadian Dollar remained unchanged versus the Dollar as commodities prices dropped but Dubai’s financial crisis uncertainty lowered. Current Account came out weaker than expected with -13.1B versus -12.9B forecast and -11.9B prior. Overall, USD/CAD traded with a low of 1.0585 and a high of 1.0748. Today, GDP is expected stronger with 0.4% versus -0.1% prior. RMPI is expected stronger with 3.1% versus -1.1% prior.

USD Dollar (USD)

The Dollar climbed against all majors after Dubai’s attempt to reschedule its debt by 6 month caused Europe Stocks to drop heavily and spurred investors to seek the safety of assets perceived as lower risk. Stocks market in U.S were close due to the Thanksgiving holiday. Crude oil fell by 3% closing at 76.2$ a barrel. Gold (XAU) closed almost unchanged at 1191.85 $ an ounce but dropped during Asia session falling back to 1170$ levels. No economic data expected today.

EURO (EUR)

The Euro fell against the Dollar following the collapse of stock markets in Europe as a result of Dubai’s debt rescheduling. EUR/USD pair traded with a low of 1.4959 and with a high of 1.5141. Loans to Euro zone households and firms fell in October for the second month in a row, coming at 0.3% vs. 0.7% forecast. No important data expected today.

British Pound (GBP)

The Pound fell versus the Dollar as stocks declined and a proposal by Dubai to delay debt payments prompted investors to seek what they perceive to be safer securities. Overall, GBP/USD traded with a low of 1.6466 and with a high of 1.6725. CBI Realized Sales came out at 13 vs. 12 forecast.

Japanese Yen (JPY)

The Yen rallied to a 14-year high against the Dollar, climbing past the 85.00 level, on speculation Japanese monetary authorities will tolerate further appreciation of the currency. Overall, USD/JPY traded with a low of 84.81 and with a high of 87.48. Tokyo Core CPI came out better than expected at -1.9% vs. -2% forecast.

Canadian dollar (CAD)

The Canadian Dollar weakened against its U.S. counterpart by the most in almost four weeks as Dubai’s plan to reschedule its debt spurred a sell-off in crude oil, gold and equities. Overall, USD/CAD traded with a low of 1.0450 and with a high of 1.0620.Today, Current Account is expected at -12.9B vs. -11.2B prior.

USD Dollar (USD)

The Dollar fell across the board after the Federal Reserve said the global recession is reaching its end and signaled it will tolerate a weaker Dollar, which encouraged investors to buy riskier assets. Unemployment Claims came out batter than the forecast at 466K vs.500K forecast and New Homes Sales climbed more than forecast at 430K vs. 408K forecast. NASDAQ and Dow Jones rose by 0.32% and 0.29% respectively, crude oil jumped by 2.6% closed nearly to 78$ a barrel and Gold (XAU) rose by 1.8% reached to a new record high during the day (above 1190$ ) but finally closing at 1187$ an ounce . No economic data expected today.

EURO (EUR)

The Euro surged to a 15 month high against the Dollar after the Federal Reserve refrained from voicing concern over the U.S. currency’s decline. GFK German Consumer Climate came out at 3.7 vs. 4.2 forecast. Overall, EUR/USD traded with a low of 1.4955 and with a high of 1.5144. Today, German Prelim CPI is expected at 0.0% vs. 0.1% prior and M3 Money Supply is expected at 0.7% vs. 1.8% prior.

British Pound (GBP)

The Pound rose versus the Dollar after the GDP report data was released and showed the UK economy shrank less than previously estimated in the third quarter, coming out at -0.3%, bringing the longest recession on record closer to an end. Overall, GBP/USD traded with a low of 1.6574 and with a high of 1.6744. Today, CBI Realized Sales is expected at 12 vs. 8 prior.

Japanese Yen (JPY)

The Yen continued to strengthen versus the Dollar after breaking below 88 for the first time in 10 months as the Federal Reserve’s signal that it will tolerate a weaker Dollar encouraged investors to buy assets outside America. Overall, USD/JPY traded with a low of 87.21 and with a high of 88.63, trade balance came out better than expected at 0.42T vs. 0.31T forecast. No economic data expected today.

Canadian dollar (CAD)

The Canadian Dollar strengthened to the highest level in a week versus the Dollar after Russia’s central bank said it will add the currency to its reserves and as copper rose and gold headed for the longest string of gains in almost three decades. Overall, USD/CAD traded with a low of 1.0449 and with a high of 1.0583. No economic data expected today.

USD Dollar (USD)

The Dollar lost an important part of previous gains after the minutes of the FOMC showed that the FED sees a slow recovery and expects the unemployment rate to remain at high levels. Earlier, The GDP came out 2.8% worse than expected 2.9%. The U.S. markets ended with minor losses. Dow Jones ended the session with a loss of -0.16%, NASDAQ fell by -0.31% and the S&P 500 decreased by -0.05%. Gold (XAU) did not reach new highs closing at 1168$ an ounce. Crude Oil tumbled and closed under 76$ a barrel. Today, The Core Durable Goods Orders expected 0.8% vs. 0.9% previously. The Initial Jobless Claims expected 500K vs. 505K previously. The New Home Sales expected 408K vs. 402K previously.

EURO (EUR)

The Dollar lost daily gains against the Euro but the Euro failed one more time to break above 1.5. The pair is still moving sideways between 1.5050 and 1.48. The German GDP came out as expected unchanged at 0.7%. The German IFO Business Climate Index came out 93.9 better than expected 92.5. The Industrial New Orders came out 1.5% also better than expected 0.6%. Overall, EUR/USD traded with a low of 1.4888 and with a high of 1.4988. Today, The Gfk German Consumer Climate expected 4.3 vs. 4 previously.

British Pound (GBP)

The Dollar rose against Pound. Cable ended a few pips below the opening price against the Dollar after being rejected from levels below 1.65, but the Pound failed to get back above 1.66. The BBA Mortgage Approvals came out 42.2K worse than expected 44K. The Business Investment came out -3% better than expected -3.5%. Overall, GBP/USD traded with a low of 1.6496 and with a high of 1.6617. Today, the GDP expected -0.3% vs. -0.4% previously.

Japanese Yen (JPY)

The Yen was the best performer among major and rose across the board. USD/JPY consolidated below 89.00 and broke below the support. The Trade Balance came out 0.42T better than expected 0.31T. Overall, USD/JPY traded with a low of 88.34 and with a high of 89.06. Today, The Bank of Japan (BOJ) Monetary Policy Meeting Minutes expected.

Canadian dollar (CAD)

The Canadian Dollar weakened against its U.S. counterpart as crude oil, the nation’s largest export, and global equities slide, diminishing the appeal of currencies tied to growth. Overall, USD/CAD traded with a low of 1.0552 and with a high of 1.0642. Today, No economic data expected.

USD Dollar (USD)

The rally in Europe and Wall Street put pressure on the Dollar that fell across the board and rose only against the Yen. The existing home sales data that came at 6.1M, better than the 5.7M expected and comments about interest rate staying at low levels for some time fueled stocks. Dow Jones closed at the highest level in 13 months and ended the session with a gain of 1.29%. NASDAQ rose by 1.4% and the S&P 500 increased by 1.36%. Gold (XAU) posted new record highs above $1,170. Crude Oil jumped at the early trading hours but closed almost unchanged near the 77.5$ a barrel. Today, the GDP expected at 3% vs. 3.5% previously. The CB Consumer Confidence expected unchanged at 47.7. Also, later Federal Open Market Committee will be expected.

EURO (EUR)

The Euro strengthened against the Dollar trying to touch the 1.5 level but failed to breach above. The French PMI came out 54.2 worse than expected 55.4. The German Manufacturing PMI came out 52 better than expected 51.7. The Manufacturing PMI came out 51 worse than expected 51.4. Overall, EUR/USD traded with a low of 1.4832 and with a high of 1.5. Today, the German GDP expected unchanged at 0.7%. The German IFO Business Climate Index expected 92.5 vs. 91.9 previously. The Industrial New Orders expected at 0.6% vs. 2% previously.

British Pound (GBP)

The Pound gained for the first time in 5 days against the Dollar following the rally in stocks as growing confidence in the global economic recovery is gathering pace. Overall, GBP/USD traded with a low of 1.6470 and with a high of 1.6647. Today, the BBA Mortgage Approvals expected 44K vs. 42.1K previously. The Business Investment expected -3.5% vs. -10.2% previously.

Japanese Yen (JPY)

The Yen fell across the board and was among the worst performers of the day. The pair continues to move at a very slow pace. Still, the pair has no clear cues for next trend development. USD/JPY traded with a low of 88.56 and with a high of 89.17. Today, the Bank of Japan Monthly Report is expected.

Canadian dollar (CAD)

The Canadian Dollar currency jumped against the US Dollar as the Core Retail Sales came out 1.1% better than expected 0.4%. The rise in gold and crude oil raised the demand of currencies tied to commodity prices. Overall, USD/CAD traded with a low of 1.0538 and with a high of 1.0707. Today, No economic data expected.

USD Dollar (USD)

The Dollar finished the day and the week with gains across the board except against the Yen but fell in the beginning of the trading session on Sunday. The fall in stocks with an increase in risk aversion helped Greenback recover. Wall Street ended Friday in negative. The Dow Jones ended with a loss of 0.14%, The NASDAQ fell by -0.5% and the S&P 500 decreased by -0.32%. The Gold (XAU) rose and closed above the 1050$ an ounce. The Crude Oil closed almost unchanged near the 77.5$ a barrel. Today, The Existing Home Sales expected at 5.7M vs. 5.57M previously.

EURO (EUR)

The Dollar posted gains against the Euro after falling in the last two weeks. The pair is still moving in ranges between the highs of the year at 1.5060 and 1.4800. The rally of the Dollar was not enough on Friday to break below the support. Overall, EUR/USD traded with a low of 1.48 and with a high of 1.4934. Today, The French PMI expected at 55.4 vs. 55.3 previously. The German Manufacturing PMI expected at 51.7 vs. 51.1 previously. The Manufacturing PMI expected at 51.4 vs. 50.7 previously. Also, the ECB President, Jean-Claude Trichet will speak.

British Pound (GBP)

The pair has lost most of the gains achieved during previous days. Due to the forecast of Industrial countries, U.K will keep the interest rate low for extended period till a recovery could be seen. Overall, GBP/USD traded with a low of 1.6460 and with a high of 1.6674. No economic data expected today.

Japanese Yen (JPY)

The Japanese currency still flat in a tight range around 89.00 areas, pair has no clear cues for next trend development. USD/JPY traded with a low of 88.67 and with a high of 89.02. Today, Japanese banks will be closed in observance of Labor Thanksgiving Day.

Canadian dollar (CAD)

The Canadian dollar ended lower for a fourth consecutive session, capping off a losing week for the currency in which investor aversion to risk dampened demand for higher-yielding currencies such as the Canadian Dollar. Overall, USD/CAD traded with a low of 1.0613 and with a high of 1.0732. Today, the Core Retail Sales expected at 0.4% vs. 0.5% previously.