Despite US investors being on holiday yesterday for Thanksgiving, the dollar has regained a little ground with the rebound coming largely at the expense of crude oil which continued its decline as traders sold Brent and Nymex causing them to plummet to new four year lows. Consumers will be rejoicing, especially since today marks Black Friday for shoppers in the US, a phenomenon that is slowly creeping ever eastwards with UK retailers jumping on the bandwagon. Risk appetite is actually suffering somewhat from the fall in oil prices with energy stocks being hit and for FX markets the commodity currencies, AUD, CAD and in particular NOK, are feeling the pressure. USDNOK has hit a five year high and remains a currency pair that is firmly on the radar of investors looking to play the dollar strength trade. Already this morning we’ve seen better than expected German retail sales, but this hasn’t done anything to help EURUSD which is drifting lower as I write sitting at 1.2430. An important data release comes at 10.00 GMT this morning when Eurozone CPI is released. This is expected to come in 0.3% y/y, down from 0.4% and one step closer to deflation. Anything higher than expected could see EURUSD have another go at the 1.2500 level, but considering yesterday’s slightly weaker money supply figure and the general malaise in the Eurozone, upside looks limited. Further reading: EUR/USD Nov. 28 – On the fall ahead of critical inflation data The Case For Staying Short on EUR Into Next Week’s ECB – BNPP Anat Dror Anat Dror Anat Dror Senior Writer I conceptualize, design and create multi-lingual websites. Apart from the technical work, my projects usually consist of writing content for these sites in English, French and Hebrew. In the past, I have built, managed and marketed an e-learning center for language studies, including moderating a live community of students. I've also worked as a community organizer Anat's Google Profile View All Post By Anat Dror Daily Look share Read Next AUD/USD: Trade The Dead Cat Bounce Tactically – SocGen Yohay Elam 7 years Despite US investors being on holiday yesterday for Thanksgiving, the dollar has regained a little ground with the rebound coming largely at the expense of crude oil which continued its decline as traders sold Brent and Nymex causing them to plummet to new four year lows. Consumers will be rejoicing, especially since today marks Black Friday for shoppers in the US, a phenomenon that is slowly creeping ever eastwards with UK retailers jumping on the bandwagon. Risk appetite is actually suffering somewhat from the fall in oil prices with energy stocks being hit and for FX markets the commodity currencies,… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
