Asia today cheered some positive news from the Aus docket, lifting the AUD/USD pair to 0.7870 levels, before reversing sharply on mixed Chinese data dump, with the Q3 GDP figures falling a tad short on expectations. The Kiwi too followed suit and tested 0.71 handle, eagerly awaiting the announcement on the new government. Meanwhile, both the EUR and GBP regained poise amid stalled USD recovery, as sentiment soured towards Asia close amid mixed equities and weaker oil prices.
Main topics in Asia
North Korea could stage an unimaginable strike on the US
A report from Yonhap (South Korean Press) says North Korea could stage an unimaginable strike on the US.
UK PM Theresa May urged to walk out if the EU wont talk trade - Telegraph
The UK’s newspaper, Telegraph, published a story earlier on the day, citing that the UK PM Theresa May urged to walk out if the EU agree on trade talks.
Australia full-time job growth slows, unemployment rate drops in September
The seasonally adjusted data released this Thursday showed the Australian economy added 19.8K jobs in September, beating the estimated rise of 15.0K.
China Q3 GDP y/y a tad weaker, but meets estimates
China's YoY GDP figures for the third quarter of 2017 came at +6.8% vs +6.8% exp and 6.9% previous, with the QoQ reading for Q3 coming in at +1.7% vs +1.7% exp and +1.8% (revised up from 1.7%) last.
Key Focus ahead
Looking ahead, the EUR, GBP traders brace for the critical UK retail sales data, which will have a major impact on Cable and EUR/GBP, as it is the only macro news up for release from the EUR calendar data. From the US docket, the weekly jobless claims and Philly Fed manufacturing index will remain in focus. However, the main event to watch out today is the Brexit/EU Summit for fresh developments on the Brexit negotiations.
GBP/USD - Will UK retail sales help defend 50-day MA ahead of Brexit summit?
GBP/USD rebounded from the 50-day moving average on Wednesday, although the uptick ran out of steam in Asia at a high of 1.3228.
EUR/USD headed back towards 1.1735/30 support?
Having failed to sustain at higher levels, the EUR/USD pair trimmed gains to test the 1.18 handle amid broad based US dollar recovery in sync with Treasury yields.
Brexit/ EU Summit: What to expect? - HSBC
HSBC analysts offer their thoughts on what to expect from the 2-day EU Summit starting today, with the agenda mainly centered on the Brexit negotiations.
NZ First to make announcements today? - ANZ
Analysts at ANZ noted that today is supposedly the day that NZ First will make an announcement on the formation of the next government.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stays near 1.0400 in thin holiday trading
EUR/USD trades with mild losses near 1.0400 on Tuesday. The expectation that the US Federal Reserve will deliver fewer rate cuts in 2025 provides some support for the US Dollar. Trading volumes are likely to remain low heading into the Christmas break.
GBP/USD struggles to find direction, holds steady near 1.2550
GBP/USD consolidates in a range at around 1.2550 on Tuesday after closing in negative territory on Monday. The US Dollar preserves its strength and makes it difficult for the pair to gain traction as trading conditions thin out on Christmas Eve.
Gold holds above $2,600, bulls non-committed on hawkish Fed outlook
Gold trades in a narrow channel above $2,600 on Tuesday, albeit lacking strong follow-through buying. Geopolitical tensions and trade war fears lend support to the safe-haven XAU/USD, while the Fed’s hawkish shift acts as a tailwind for the USD and caps the precious metal.
IRS says crypto staking should be taxed in response to lawsuit
In a filing on Monday, the US International Revenue Service stated that the rewards gotten from staking cryptocurrencies should be taxed, responding to a lawsuit from couple Joshua and Jessica Jarrett.
2025 outlook: What is next for developed economies and currencies?
As the door closes in 2024, and while the year feels like it has passed in the blink of an eye, a lot has happened. If I had to summarise it all in four words, it would be: ‘a year of surprises’.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.