The Euro is trading at 1.0624 at the moment.  The low has traded at 1.0600 while the high has traded at 1.0646.  European data out earlier this morning was positive for the most part.  French Flash Manufacturing PMI, German Flash Manufacturing PMI and European Flash Manufacturing PMI were all better than expected registering 50.8, 52.6, and 52.8 respectively.  Additionally, German Flash Services PMI and European Flash Services PMI were also better than expected with 55.6 and 54.6 respectively.  French Flash Services PMI was lower than expected with 51.3 recorded.  This data has enabled the Euro to see a slight lift off of the low of the day.  However, the upside potential appears limited in early trading this week.  This is likely the result of expectations that anticipate an expansion in the current QE program the ECB is undertaking to promote growth in the European economy.  This move in conjunction with an anticipated rate hike in the US continues to weigh heavily on the value of the Euro.  It appears that as the date for the ECB meeting gets closer, the more there is downside pressure on the Euro.  Investors can expect more of this activity in the coming days until the ECB meeting on December 3.

The British Pound is trading at 1.5145 at this writing.  Sterling has traded as low as 1.5124 while the high has traded at 1.5195.  Once the European session started, the Pound softened versus the US Dollar with consideration for a US rate hike in December weighing heavy on the minds of investors.  There has been no significant UK economic data released today.  After the Bank of England announced that it intends to keep interest rates in the UK at the low for an extended period, downside pressure has seemed to grow stronger with the US Dollar seeing the benefits.  The BoE has made this announcement in anticipation of economic headwinds that will likely add pressure to the growth potential of the UK economy.  One of the key objectives they are hoping to reach is their projected inflation targets of 2%.  They are hoping to reach this target sometime in the next 2 years.  It is anticipated that the basis for economic growth will have created a sound platform in that time frame.  Looking ahead, there will be UK Realized Sales data released tomorrow.  The anticipated number investors will be looking for is 25.  Anything above this number will be seen as positive signs for the economy.

The Japanese Yen is trading at 123.18 at present.  USD/JPY has traded as low as 122.72 with the high trading at 123.26.  There has been a bank holiday in Japan today which explains why the currency has continued to trade in a range bound fashion.  Tomorrow will see the release of Manufacturing PMI data out of the region.  This data could encourage a break out of the recent range we have seen over the past few trading days.  Later this week there will be inflation and employment data released which is sure to present some interesting trading scenarios.
AUD/USD is trading at 0.7202 with the low trading at 0.7159 while the high has been 0.7233.
USD/CAD is trading at 1.3352 with the low being 1.3319 while the high has been 1.3436.
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This information has been prepared to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information.