Nov. 18: MARKET REVIEW
USD/JPY: Japanese Nikkei gained 2.2%, erasing much of Monday's 3% fall, while the pair has lifted to the 116.70 area. The market’s expecting that Prime Minister Shinzo Abe will call a snap election that may lead to a delay a sales tax increase and further economic stimulus.
EUR/USD: down from 1.2570 on Monday to 1.2440 on dovish Draghi’s comments (ECB is ready to act further if needed). German and euro zone’s ZEW economic indices will be released at 10:00 GMT (forecasts – upbeat).
GBP/USD: The pair is consolidating in the 1.5620/50 area. Britain will release inflation data at 09:30 GMT.
AUD/USD: attempted to recover in Asia, but was capped at 0.8730. RBA meeting minutes reiterate the period of rate stability.
NZD/USD: follows the Aussie, capped at 0.7940. Global Dairy Trade auction begins at 12:00 GMT.