Today’s FX session has arguably been a little more tame these yesterday’s although GBP/USD has managed to inch a little higher to around 1.314 while EUR/USD once again temporarily breached the 1.11 level.
The Australian Dollar lost some traction this morning after the release of a smaller than expected trade surplus in October and flat retail sales in the month. The trade surplus narrowed to AUD 4.5bn but Australia is still running a sizeable trade surplus at a time when global growth and trade is slowing. Markets are seemingly looking at the Australian Dollar through a “glass half empty” prism even if AUD/USD is still hovering around 0.68.
