Trading news

AUD/USD trades around 0.6550 on Monday at the time of writing, virtually unchanged on the day, as the market digests a batch of mixed US data and awaits key Australian releases.

West Texas Intermediate (WTI) US Oil advances at the start of the week, trading around $59.30 at the time of writing.

The Euro (EUR) steadies against the US Dollar (USD) on Monday, with EUR/USD hovering near two-week highs reached earlier in the day as traders digest the latest ISM Manufacturing Purchasing Managers Index (PMI) data.

The GBP/USD post modest gains rise over 0.20% on Monday as investors grow confidence that the Federal Reserve might cut rates in the next week meeting, and traders prized in a possible nomination of the White House Economic Adviser Kevin Hassett to succeed Powell at the Fed.

Canada’s November Labour Force Survey will be pivotal for judging whether recent job gains reflect genuine labour-market improvement or mere statistical noise.

United States ISM Manufacturing Prices Paid below expectations (59.5) in November: Actual (58.5)

United States ISM Manufacturing PMI below forecasts (48.6) in November: Actual (48.2)

United States ISM Manufacturing New Orders Index dipped from previous 49.4 to 47.4 in November

United States ISM Manufacturing Employment Index declined to 44 in November from previous 46

Copper and PGMs stand out as traders aggressively stockpile metals, straining already thin global inventories.

United States S&P Global Manufacturing PMI above forecasts (51.9) in November: Actual (52.2)

The British Pound (GBP) softens against the Japanese Yen (JPY) at the start of the week as hawkish comments from the Bank of Japan (BoJ) Governor Kazuo Ueda lift the Yen across the board. GBP/JPY trades near 205.25 at the time of writing, marking its lowest level in five days.

Canada S&P Global Manufacturing PMI dipped from previous 49.6 to 48.4 in November

The Japanese Yen (JPY) is outperforming all G10 currencies, rising 0.6% against the US Dollar (USD) as markets interpret Governor Ueda’s latest remarks as a hawkish shift.

The British Pound (GBP) is largely flat against the US Dollar (USD) heading into Monday’s North American session, underperforming most G10 peers, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) is entering Monday’s NA session with a 0.3% gain and is outperforming all of the G10 currencies with the exception of Japanese Yen (JPY), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) is down fractionally on the session against the US Dollar (USD) but losses are very modest and spot is all but unchanged in effect over the weekend, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) pares some of its early gains against the Swiss Franc (CHF) on Monday as traders digest stronger-than-expected Swiss Real Retail Sales alongside softer Eurozone manufacturing signals. At the time of writing, EUR/CHF is trading around 0.9324, easing from a daily high of 0.9338.

USD/CHF trades lower on Monday, around 0.8010 at the time of writing, down 0.25% on the day. The pair comes under pressure from a weakening US Dollar (USD) as investors increasingly price in additional monetary easing from the Federal Reserve (Fed).

Brazil S&P Global Manufacturing PMI climbed from previous 48.2 to 48.8 in November