Boris and Kathy Forex Weekly – 20-11-2017 – Majors
November 19, 2017 9:48 pm
We could be looking at another week of uneven performance in currencies as holidays in North America encourage profit taking and position adjustments. The best performing currencies this past week were the Japanese Yen and euro. The weakest currency was the New Zealand dollar, which hasn’t seen a rally in 7 trading days. This is the longest stretch of unabated weakness for NZD/USD since February. European currencies in general outperformed the commodity currencies, so it shouldn’t be a surprise that the biggest moves were in the crosses. EUR/AUD and EUR/NZD hit their strongest level in over a year. With a quiet U.S. calendar, the Thanksgiving holiday ahead and the Senate on recess, we believe next week should be a slower one.
We could be looking at another week of uneven performance in currencies as holidays in North America encourage profit taking and position adjustments. The best performing currencies this past week were the Japanese Yen and euro. The weakest currency was the New Zealand dollar, which hasn’t seen a rally in 7 trading days. This is the longest stretch of unabated weakness for NZD/USD since February. European currencies in general outperformed the commodity currencies, so it shouldn’t be a surprise that the biggest moves were in the crosses. EUR/AUD and EUR/NZD hit their strongest level in over a year. With a quiet U.S. calendar, the Thanksgiving holiday ahead and the Senate on recess, we believe next week should be a slower one.
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