Deteriorating Data Piles Pressure on ECB......>

FOREX: Deteriorating Data Piles Pressure on ECB

-After a weak start on poor Eurozone PMI numbers, MNI source reports compounded

EUR weakness, with sources citing pressure on the ECB's "balanced risks" line

due to poor economic data. EUR/USD fell well below the $1.14 level and within 1%

of the year's $1.1216 lows. Elsewhere, price action was muted, with US markets

enjoying a half day session due to Thanksgiving holidays.

-Meanwhile, EUR/NOK approached the early September highs as oil prices slid

further. WTI and Brent crude futures traded (again) at the lowest levels of the

year, sliding well over 6% apiece at some points of the session. As a result,

commodity-tied FX slid against most others, with NOK faring the worst.

-JPY was the strongest performer in G10 as US equities slid for their

half-session, helping keep USD/JPY below Y113 for much of the European trading

day and firmly outperformed the CHF, which failed to find the safe haven bid.

-Markets turn their attention to Fed minutes, German IFO numbers and regional

CPI, GDP from the USA and France, Chicago PMI data and any fallout from the

Sunday Brexit summit meeting.