EUR/USD stance keeps looking south – OCBC

FXStreet (Edinburgh) - FX Strategist at OCBC Bank Emmanuel Ng has reiterated the negative stance on the pair in the near term.

Key Quotes

“The EUR underperformed across the board on Tuesday as EZ yields continued to soften and headlines of bomb threats in Germany fueled background caution”.

“As noted previously, the 1.0600/30 vicinity may remain on the cards with investors increasingly loaded for EUR bearishness of late”.

Nov 18, 2015

What to look for in the FOMC October meeting minutes to be released today

The June and September FOMC meetings had not signalled the possibility of a rate hike. Nobody was really expecting the Fed to include an announcement on raising rates in the U.S. in their October statement. The fact that the FOMC October meeting would not be followed by a press conference had further strengthened the belief that no major decision on rate hike would be announced. The October minutes of the FOMC meeting to be released today, two weeks after the meeting will probably include discussion on rate normalization. The Fed feels that the next FOMC meeting scheduled to be held on 15th and 16th December would be a good time to discuss rate hike.

USDCAD price action contained - TDS

Research Team at TDS, notes that the USDCAD price action has been rather lacklustre recently as the 1.3300 figure has served as a resting state for funds with spot is trading in line with our fair value estimate.