Erratic dollar drop on month-end madness......>

FOREX: Erratic dollar drop on month-end madness

-After a particularly muted morning in which EUR/USD was on track to clock one

of the tightest intraday ranges on record, the return of US participants (albeit

briefly) after Thanksgiving resulted in a bout of protracted greenback weakness.

The move was pinned on month-end flows and some outsized gyrations in oil & bond

markets as news and data releases were very thin on the ground. EUR/USD

rebounded from key support below $1.10 to head into the close nearer to $1.1025.

-WTI oil was lower by well over 4% at some points of the session, but the move

seemed limited to commodity markets, as oil-tied FX felt little of the fallout

in energy space. USD/CAD had a surprisingly busy session, slipping in the

European morning before returning stronger on better than expected GDP figures

for September.

-US participants return in full force next week, with focus turning to a speech

from ECB's Lagarde and Fed's Quarles and rate decisions from Australia, Canada,

Chile and India. Tier one data releases include UK PMIs, US Manufacturing ISM

and the US and Canadian November jobs reports.