Trade

USD/JPY holds steady amid intervention threat. Oil rises as geopolitical tensions rise.

EUR/USD falls after the ECB meeting & ahead of US inflation data. Oil hovers around a 2-month high.

DAX looks to the ECB rate decision. USD/JPY rises ahead of US Q4 GDP data.

We're on the lookout for any hawkish undertone in today's RBA minutes - given the RBA's statement was deemed to be less hawkish than expected. Failure to do so could see AUD/USD hand back some of it's gains. The Nasdaq is also following its seasonaly tendency to rise into Thanksgiving.

With a bullish engulfing week and day for AUD/USD on Friday, can the Aussie muster up the strength for a breakout above key resistance? And if losses on USD/CNH are anything to go by, perhaps USD/JPY is preparing to follow suit.

EUR/USD falls ahead of ECB President Lagarde's speech & US jobless claims. Oil falls for a third straight day after inventories rise.

WTI crude oil rose for a second day after the monthly OPEC report played down demand concerns and blamed speculators for oil's recent decline. A move to $80 at a minimum or $83 could now be on the cards. We also have a near-term bullish bias on the ASX 200.

The S&P 500 continues to defy gravity and appears on the cup of breaking above a key resistance level. And whilst AUD/USD fell for five days last week, it is fast approaching a key support level that has been favourable to dip buyers in recent times.

GBP/USD struggles as UK GDP stalls. USD/JPY grinds higher after a hawkish Fed Chair Powell.

If the BOJ were going to intervene, it could be argued they'd have done it already. But that doesn't mean the market can't do some of the work for them by sending USD/JPY lower from key resistance levels. And if the US dollar pulls back as I suspect, it places USD/JPY short onto the watchlist.

GBP/USD falls ahead of BoE Bailey & Fed Chair Powell’s speeches. DAX falls ahead of German inflation & retail sales data & as after Commerzbank, Adidas earnings.