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Nov. 18: Asian session

US dollar is under pressure amid the speculation that some Fed speakers will echo Chairman-nominee Janet Yellen in reiterating the need for monetary stimulus. New York Fed President William C. Dudley, a permanent voter on monetary policy, is scheduled to speak today, as are Eric Rosengren, Charles Plosser and Narayana Kocherlakota.

USD/JPY moved down from the daily high of 100.38 back to the key 100.00 mark. The Bank of Japan holds its policy meeting on Wednesday and Thursday and is expected to maintain the current dovish policy. USD/CHF is trading in the 0.9150/60 area after last week it met resistance around 0.9250. EUR/USD is capped by $1.3500. The pair dipped to $1.3475, but is supported by the daily Ichimoku Cloud. Euro zone will release current account figures at 09:00 GMT and trade balance at 10:00 GMT. GBP/USD is testing Friday’s high at $1.6130.

AUD/USD continues the rebound, strengthening by 40 pips to $0.9410. NZD/USD rose to $0.8360 after having closed the morning bullish gap. Positive sentiment from China surrounding plenum reforms boosted the Chinese equity markets and the commodity currencies. The Chinese Communist Party presented a project of reforms late last week, pledging to let the market play a "decisive" role in the economy. USD/CAD opened with a 10-pip gap down and declined to 1.0430. Canadian dollar gained after Statistics Canada reported on Friday that manufacturing sales rose 0.6% to C$49.9 billion, the highest since June 2012.

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