Sentiment and prices changed palpably against the Dollar in the first two weeks of November. Kit Juckes, chief currency strategist at Société Générale, analyzes the outlook for the currency markets for the coming week.
Swedish krona and Norwegian krone regain ground
We’re in for a quiet week of economic data, and with Thanksgiving a potential distraction for some, there’s not much to challenge the market’s view that a soft landing is on the horizon in the United States.
Friday’s European PMI data may serve as a reminder that growth on this side of the Atlantic is nothing to write home about, but US PMIs will be ignored pending the ISM a week later (and the NFP a week later, followed by the CPI and the FOMC).
All of this may cause the EUR/USD and GBP/USD bounces to peter out at some point, while the JPY, AUD and NZD will hold for longer and the SEK and NOK will gain ground again. Both can rise against CHF in this “soft landing” world.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
