In Canada, Ivey Purchasing Managers’ Index (PMI), Monthly Survey to rate the business conditions including employment, production, new orders, prices, supplier deliveries, and inventories reduce to 58.6 from 63.5 on the last month and indicates industry expansion.

The Australian economy, with its great dependence on exports, has been hit hard by the global economic slowdown, but now finds itself well-prepared for an improvement in the global economy, especially that of the US. The aussie has benefitted from this, and has been an exceptional performer in 2012.

In the US, Elizabeth Duke, Federal Reserve Governor is due to speak in Virginia.

Updates: The Aussie dipped under 1.03 as the ANZ Job Advertisements dropped by 0.9%, triggering worries about employment. It managed to climb back up as home loans rose by 1.4%. The better than expected Chinese GDP (8.9% annualized) certainly gave a boost to the Aussie that touched 1.0450 before sliding lower. Australian New Motor Vehicle Sales disappointed with a big drop of 2.9%. This prevented another move upwards. AUD/USD is struggling around 1.04. Australian employment data disappointed with a drop of nearly 30K jobs, although it’s important to note that full time jobs were actually on the rise. AUD/USD managed to rise above 1.04 once again, also on the European optimism.

In the US, The Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI); Monthly Survey to value the business conditions such as new orders, employment etc., a rise is expected 52.9 points on November up to 53.6 points now.

In the US, Consumer Credit, value of unpaid requires payments consumers credit that over the previous month, due to rise from -9.5B on October up to 5.2B now.

Glenn Stevens acknowledged the global slowdown and easing inflation and cut the interest rate to 4.50%. This weighed heavily on the pair, as well as no new hints on QE3 in the US.

In Europe, French Industrial Production, is a main financial health indicator that value the manufacturers output is about to reduce from 1.5% on September to -0.7% this month.

The Australian dollar fell to a one year month low against the greenback on global worries and some hints of a rate cut in the monthly rate decision. On the other hand, retail sales, building approvals and trade balance all provided upside surprises.

The Aussie was buoyed by Thursday’s release of higher than expected Australian retail sales.  Positive manufacturing data out of China also helped to drive the AUD, easing concerns of a stalling economic recovery in China.  With the RBA expected to leave interest rates unchanged at the next meeting, the AUD has been increasing against the USD.