Forex Today – Asian Session: Sentiment Drives Financial Markets

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What you need to know on Tuesday, November 16:

The euro was the worst performer, falling against the dollar to a new 2021 low of 1.1381. The dollar also appreciated against shelters CHF and JPY, but lost ground against the pound and currencies linked to commodities. Overall, action was limited across all currency areas as speculative interest awaits new leads.

Market sentiment was positive early in the day following upbeat Chinese data, but faded after the Wall Street open. US Treasury yields rose without a clear catalyst. However, it may be related to the US report last Friday that more than 4.4 million people in the US left their jobs in September, overshadowing the upbeat nonfarm payroll report released earlier this month. .

Brexit made the headlines again. British Prime Minister Johnson’s spokesman said their aim is to reach a consensual solution to the Northern Ireland protocol, adding that they want to reach a consensual solution and continue “intensive talks” with the EU. Meanwhile, British Prime Minister Johnson contacted the cables, warning that to avoid further restrictions, everyone must get vaccinated. The definition of a fully vaccinated person will change to account for booster shots, he added. The number of coronavirus infections is reaching worrying levels in Europe, which is experiencing its sixth wave.

Gold extended its advance to hit a new multi-month high of $ 1,870.48 a troy ounce. While crude oil prices posted modest intraday losses and ended the day at around $ 79.80 a troy ounce.

On Tuesday, the RBA will release the Minutes from its latest meeting, while the United States will release retail sales for October. In addition, the UK will publish its employment data for October.

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