Currency Analyst since 2010

Nov. 12: Asian session

EUR/USD slid from the levels just above $1.3400 to $1.3390. Today traders will have Germany’s monthly final inflation data (07:00 GMT). GBP/USD is trading on the downside. Pound tested 55-day MA at $1.5965. Pound may be supported before the Bank of England’s Governor Mark Carney presents his second quarterly inflation report tomorrow. Britain will release inflation data at 09:30 GMT.

USD/JPY rose to a more than 7-week high, touching 99.50. Nikkei 225 index is up by 2% today. USD/CHF is testing levels above 0.9200.

AUD/USD extends the downside for a fourth consecutive day, touching $0.9330 (lowest since October 1). Today’s data showed Australian business confidence pulled back from 3.5-year highs in October as sales and profits stayed subdued. NZD/USD has found some support ahead of the $0.8200 handle. Investors are keeping an eye on China as a 4-day Communist Party summit ends today at Beijing. The Financial Times has published an article, noting China may cut its GDP projection from 7.2% to 7% by 2014, as the economy consolidates its status as world's power house. USD/CAD rose above yesterday’s highs, to 1.0487.

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