Idea of the Day We talked last week of the battle between the markets and the RBA in Australia, which has been perfectly illustrated by the latest minutes from the central bank today. Not for the first time, the RBA described the Aussie as “uncomfortably high” and suggested that a weaker currency was still needed to support the re-balancing of the economy. But the market appears to be increasingly resilient to such talk, with the currency largely brushing off the comments in Asia trade and being squeezed higher at the start of the European session. For now, it appears that markets are thinking the RBA is pretty powerless to push the currency down beyond the use of words, with lower rates building risks for the domestic economy. Data/Event Risks EUR: ZEW data can sometimes cause ripples on the euro as it is seen as having some leading properties towards the more followed IFO index of German business confidence. Market looks for the expectations balance to move up from 52.8 to 54.0. The 2009 peak was 57.7. Latest FX News JPY: The big focus this week is potential changes to the Government pension investment fund and there are also upcoming changes to Nippon savings accounts due to take place in January next year. Both are likely to push the yen lower, making it easier for overseas investments. AUD: A double edged sword from the RBA minutes, both reflecting that previous rate cuts (taking rates to 2.50%) but also acknowledged the scope for more easing if needed. The Aussie sagged only modestly, pushing back above the 0.9400 level later on. EUR: A slow start to the week, but there remains an underlying tendency towards appreciation, with a push to the 1.3540 level seen yesterday before pulling back, but still holding above the 1.35 level. We underlined the reasons last week in our blog. Further reading: EURUSD Approaching Resistance Zone (Elliott Wave Analysis) Janet Yellen’s speech pushes indices to new highs; What to expect this week? 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 EUR/USD Nov. 19 – Little Movement After Mixed Economic Kenny Fisher 9 years Idea of the Day We talked last week of the battle between the markets and the RBA in Australia, which has been perfectly illustrated by the latest minutes from the central bank today. Not for the first time, the RBA described the Aussie as "uncomfortably high" and suggested that a weaker currency was still needed to support the re-balancing of the economy. But the market appears to be increasingly resilient to such talk, with the currency largely brushing off the comments in Asia trade and being squeezed higher at the start of the European session. For now, it appears that… Regulated 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.