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Greenback Creeping Higher Ahead of Housing, Labour Market Data

FOREX
  • The greenback is making uniform gains across G10 Thursday, with the USD Index within range of the Wednesday high ahead of NY hours. Market action has been few and far between overnight, with the greenback gaining despite Fed's Waller late yesterday outlining his growing preference for a 50bps move from the FOMC in December.
  • GBP trades moderately well ahead of the UK Autumn Statement, with UK Chancellor Hunt expected to outline a stark budget of tax rises and spending cuts to address the loss of market credibility and the outsized energy support guarantee for households.
  • AUD is the weakest currency so far, with NOK not far behind as equities and commodity markets sit lower ahead of the US Open.
  • Focus turns to US housing starts and building permits data for October as well as the weekly US jobless claims release. The central bank speakers slate is similarly busy, with scheduled appearances from BoE's Pill, Tenreyro, ECB's Villeroy as well as Fed's Bullard, Bowman, Mester and Kashkari.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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