# Forex Major Currencies Outlook (Dec 01, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-01-2016/ Language: en Updated: 2016-12-01 Description: Explore Forex Major Currencies Outlook (Dec 01, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar was able to hold its ground, thanks to mostly upbeat economic data. The ADP non-farm employment change reading hinted at an upside NFP surprise while the Chicago PMI posted a sharp climb. Personal income was higher than expected but personal spending lagged. US initial jobless claims and ISM manufacturing PMI are up for release, setting the tone for Friday’s NFP report. **EUR** The euro was able to recover against the commodity currencies and carried on its rally against the yen. Economic data from the euro zone came in line with expectations, particularly the CPI estimates, while the German retail sales figure surprised to the upside. Final manufacturing PMI readings are due today. **GBP** The pound was higher across the board after the BOE printed its Financial Stability Report and bank stress test results. UK manufacturing PMI is due today and a rise from 51.3 to 51.4 is eyed, possibly reflecting a stronger expansion in the industry. **CHF** The franc slid to the dollar and pound but managed to bounce back against the euro. The KOF economic barometer missed estimates and printed a drop to 102.2 from the downgraded 103.9 figure. Swiss retail sales data is due today and a 2.0% slide is eyed. **JPY** The yen continued to slide against its counterparts and the final manufacturing PMI upgrade from 51.1 to 51.3 seemed to be of no help. There are no other reports due from Japan today so yen pairs could extend their climb or react to market sentiment. **Commodity Currencies (AUD, NZD, CAD)** The OPEC decided to cut production to 32.5 million barrels per day starting January next year in their first output deal in eight years. This comes after Saudi Arabia gave in to Iran’s demands to produce around 3.8 million barrels per day instead of cutting their own output to 3.7 million barrels per day. Australia’s private capital expenditure report came in weaker than expected with a 4% slide while China’s official manufacturing PMI beat expectations by rising to 51.7. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-01-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-01-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-dec-01-2016/", "headline": "Forex Major Currencies Outlook (Dec 01, 2016)", "inLanguage": "en", "datePublished": "2016-12-01T07:01:59+00:00", "dateModified": "2016-12-01T07:01:59+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Dec 01, 2016). USDThe US. 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