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Bulls in US dollars took a break from Wednesday's Asian trade, allowing most majors to attempt a lukewarm bounce. However, price action on the foreign exchange market has remained confined to narrow trading ranges in the face of rising trade tensions between the United States and China, Brexit uncertainty and global growth risks. The Australian dollar was the biggest gainer in Asia, while the USD / JPY remained trapped below 114. The Kiwi tested the 0.6800 level after the RBNZ's Financial Stability Report (FSR) showed that easing was prudent.
On the commodity front, the price of oil rebounded by more than 1% following the repositioning at the end of the month, while the gold price on Comex was stopped around 1220, waiting for a new commercial impetus from American growth and Powell's speech.
Main topics in Asia
China: Do not Actively Consider Using US Treasury Bills as a Commercial Warfare Tool – Reuters
US and North Korean envoys do not hold scheduled talks
US President Trump repeats that he is not satisfied with the Fed Chairman, Mr. Powell – WaPo
Inflation forecasts in the United States fall below the 2% mark for the first time since December 29, 2017
Vice Premier Liu: No country can win a trade war
Crude sets up for regular bullish recovery, WTI recovering at $ 52.00
The dollar index hitting a two-week high on the Fed's speech and the tensions of the trade war
Gold reaches its lowest level in 12 days, revives interest in put options (bearish bets)
Three-quarters of UK carmakers fear deadlock Brexit – UK SMMT survey
Key focus to come
The euro's macro-monetary calendar remains silent for the third consecutive session, as traders expect Gfk's German consumer climate at 07:00 GMT and euro zone credit growth data expected at 09:00 GMT for certain commercial incentives.
EUR / GBP traders will remain focused on UK Treasury and BOE valuations (expected at 16:30 GMT) of various Brexit scenarios and their implications for UK growth prospects and rate hike plans. BOE. Meanwhile, the BOE will also publish its Financial Stability Report (FSR) and bank stress test results, while the Financial Conduct Authority (FCA), the regulator of the financial markets, will also publish its impact report. Brexit.
The US calendar should also be rich in events, with a new series of US economic publications at 13:30 GMT including preliminary GDP in Q3, a good trade balance and prices of personal consumption expenditure. The report on US new home sales will be released at 1500 GMT, followed by EIA crude inventory data at 1530 GMT.
In addition to Brexit data and forecasts, we have a series of central bankers' speeches listed below.
6:30 GMT: Olli Rehn, Member of the Governing Council of the ECB and President of the Bank of Finland
1205 GMT: Benoît Cœuré, Member of the Governing Council of the ECB
13:00 GMT: Vice President of the ECB, Guindo
15:20 GMT: Peter Praet, chief economist at the ECB
16:45 GMT: Mark Carney, governor of the BOE
17:00 GMT: Jerome Powell, Fed President
EUR / USD: Focus on USD / CNH and Powell Fed
EUR / USD can attract bids if Powell puts more emphasis on increasing risks for the US economy. The preliminary estimate of US GDP for the third quarter, scheduled for publication at 13:30 GMT, and the ECB Also talk about influencing the pair.
The GBP / USD hopes to end the fall in 1.2700 as the UK prepares for bank stress tests, FSR
Bank of England (BoE) bank stress test results, a key test of the UK's ability to survive a chaotic Brexit scenario, feature in Britain's Wednesday economic program. The BoE will also release its report on financial stability.
An analysis of the British Treasury reveals that the UK will lose 150 billion pounds sterling as part of a Brexit without agreement – The Telegraph
The Telegraph came out with some leaks on what to expect from the UK Treasury forecasts of Brexit, which will be released Wednesday morning (UK time).
US GDP at a Glance: No Third Quarter Revisions
The first revision of the third quarter annualized gross domestic product will be released by the Bureau of Economic Analysis, a division of the Commerce Department, on Wednesday, November 28 at 8:30 am Eastern Time, at 13:30 GMT.
Trump-Xi Summit Overview: 3 Scenarios for Trade Negotiations and Monetary Responses
US President Donald Trump meets his Chinese counterpart Xi Jinping on the sidelines of the G20 summit on November 30. Trade is on the agenda. Here are the latest developments in the trade war.
Iron ore observed between $ 60 and $ 70 / t – Goldman Sachs
Analysts of US investment bank giant Goldman Sachs give their views on iron ore prices, given the recent crisis.
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