Forex Today: AUD outperforms in Asia, a busy eco calendar ahead

Amid a fairly-light Asian economic calendar and holiday-thinned trades, the Australian dollar outperformed across the board, mainly driven improved Chinese business sentiment, which offset bearish Australian construction done report. While the USD/JPY pair consolidated at 111 handle amid a lack of fresh triggers, as the Japanese traders celebrated Thanksgiving Holiday.

Moving on, we have a busy, action-packed economic calendar ahead , kicking-off with a raft of Euro area flash services and manufacturing PMI reports, followed by BOE MPC member Forbes speech, the UK Autumn Forecast Statement. While the US docket offers the durable goods, new home sales and consumer sentiment data ahead of the much awaited FOMC minutes.

Main topics in Asia

Moody’s Australia 2017 outlook: Stable for all sectors

"Non-Financial Corporates - Australia, 2017 Outlook: Stable for All Sectors", the just released report of the ratings agency Moody’s says most corporates also show solid balance sheets and liquidity and the outlook for corporate sectors in Australia is stable during 2017.

USD/JPY supported near 5-DMA amid holiday-thinned markets

USD/JPY is seen wavering back and forth in a narrow range around 111 handle, having stalled its recovery from NY lows just near multi-month tops reached Monday.

Gold stalls recovery near hourly 100-SMA, Fed minutes eyed

The ongoing recovery in the yellow metal lost steam over the last hours near the hourly 100-SMA barrier located at $ 1215, sending the rate slightly lower amid light trading.

Key focus for the day ahead

UK: It’s time for autumn statement - TDS

Research Team at TDS, suggests that the UK government today releases its first budget update under new PM Theresa May at lunchtime GMT.

Eurozone: Flash PMIs in focus today – RBC CM

Research Team at RBC Capital Markets, suggests that the Eurozone’s forward-leaning indicators in the latest survey suggested that October’s stronger readings should continue into November, which would point toward GDP growth of 0.4% q/q in Q4.

Fed rate hike is all but a sure thing - BNZ

Jason Wong, Currency Strategist at BNZ, suggests that the market-based expectations for a Fed hike next month are sitting between 94%-100%, depending on how they are measured, meaning a rate hike is all but a sure thing.

Economic wrap: awaiting durable goods and FOMC minutes - Westpac

US core durable goods orders in Oct should remain weak. Transport should add to headline growth for the month.

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