The spanner in the workings of FX markets last week was the interest rate cut from China on Friday. The initial reaction saw the Aussie gain, together with stocks, as investors once again took the view that central banks were coming to the rescue. But rate cuts in China are not the same as rate cuts elsewhere. The banking system works very differently and the impact of this move is likely to be limited in terms of its impact China and also the prospects for the global economy. Still, for now at least, markets continue to bask in the glow of this latest move, with stocks in Asia remaining in positive territory. The Aussie meanwhile has unwound some of the gains seen on Friday, but continues to hold above the 0.8650 level for now. We enter what is now the last trading week of November. The initial focus will be on the single currency and the release of the German Ifo data at 09:00 GMT. The headline index has been falling for the past 5 months, which has taken it below the average of the past 5 years (103.2 vs. 5 year average of 107.8). EURUSD has fallen below the bottom of the 1.24-.1.26 that has dominated for most of the month, with weaker numbers from Germany likely to enhance this softer stance to the week, if seen. The rest of the week sees more details on GDP from both the UK and US, together with labour market data from Germany and further housing data in the US mid-week. After being tied into a tight range for most of the month, the dollar is starting the week above the 88.00 level on the dollar index, something which has remained elusive for most of the month to date. Finally, it’s worth keeping an eye on EURCHF ahead of Swiss referendum on gold holdings this weekend. We’ve seen a modest upmove as polls have suggested the motion won’t be passed, which has reduced the fear that the SNB would be forced to sell euros so as to increase their gold holdings 20% as stipulated in the referendum. Further reading: Stay Short EUR/USD & Sell Bounces – Barclays’ Trade Of The Week Deal with China predicted to boost the Australian economy FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next Simplifying Trends For The Forex Trader to Profit Guest 7 years The spanner in the workings of FX markets last week was the interest rate cut from China on Friday. The initial reaction saw the Aussie gain, together with stocks, as investors once again took the view that central banks were coming to the rescue. But rate cuts in China are not the same as rate cuts elsewhere. The banking system works very differently and the impact of this move is likely to be limited in terms of its impact China and also the prospects for the global economy. Still, for now at least, markets continue to bask in the glow… 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.