Good morning traders. Here are the main points for today: • USD mixed after weak pending home sales & Dallas manufacturing index; higher vs GBP, NOK and CHF but lower vs JPY, CAD, SEK, AUD and NZD. EUR/USD steady. • Brent opened sharply lower yesterday after Iranian accord, but recovered steadily. Gold & silver rose with oil. NOK was lower but #CAD up. Brent now at relatively high level, Brent/WTI spread at record. I expect Brent to ease today, pressuring NOK and CAD. • Today’s indicators: US housing data may counter the bad impression from yesterday’s pending home sales: building permits expected to be up in October, house prices (S&P/Case-Shiller and FHFA price index) also expected up. Conference Board consumer confidence and US Richmond #Fed manufacturing survey predicted higher, which would also be USD-supportive. • Speakers: #BoE Gov. Carney to testify on Inflation Report; he’s usually dovish. #ECB’s Mersch and Asmussen may repeat previous #dovish comments.
Posted on: Tue, 26 Nov 2013 06:34:03 +0000