Sterling was overwhelming the weakest one last week on Brexit political drama in the UK. It's now even uncertain for how long Prime Minister Theresa would stay in position, not to mention if there would be an agreement for orderly Brexit. Dollar followed as the second weakest after cautious comments from Fed officials prompted traders to pare back bets on Fed's rate path. Canadian Dollar was the third weakest as oil price's free fall continued. Euro was mixed only, thanks to other happenings overshadowing Italy-EU budget clash. New Zealand and Australian Dollar were the strongest ones, lifted by their own data. Also, prospect of de-escalation of US-China trade war also helped. Looking ahead, the economic calendar is relatively light this week, in particular with US on Thanksgiving holiday. RBA and ECB minutes will catch some attentions. Also Eurozone PMIs and Canada CPI and retail sales will be watched. The main focuses will remain on UK politics, Italy budget, US-China trade talks and fedspeaks. |
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