# Forex Major Currencies Outlook (Nov 07, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-nov-07-2017/ Language: en Updated: 2017-11-07 Description: Explore Forex Major Currencies Outlook (Nov 07, 2017). USDThe. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The dollar was off to a good start but gave up its gains during the latter part of the London session and throughout the US session after FOMC member Dudley confirmed his retirement plans. He is one of the more hawkish members of the Fed so the change could weigh on rate hike odds next year. Newly-appointed member Quarles is set to give a testimony today and traders are eager to find out about his policy biases. Fed Chair Yellen also has a speech due and US consumer credit data will be released. **EUR** The euro was in a weak spot against most of its peers as final services PMI readings turned out weaker than expected. On a less downbeat note, the Sentix investor confidence index improved from 29.7 to 34.0 versus the consensus at 31.2. Euro zone retail PMI and retail sales are due today, after Governor Draghi gives a testimony that is expected to shed more light on future central bank action. German industrial production data is also due. **GBP** The pound was one of the better-performing currencies for the day even though there were no major UK reports released. Earlier today, the UK BRC retail sales monitor showed a 1.0% slide versus the previous 1.9% gain, signaling weakness in domestic spending owing to inflation. The Halifax HPI is due next and a 0.2% uptick is eyed, slower than the earlier 0.8% gain. **CHF** The franc had a mixed run as the currency simply reacted to its counterparts. Swiss CPI came in line with expectations of a 0.1% uptick and traders are looking to SNB head Jordan’s testimony next. SNB foreign currency reserves data is also due and a huge gain over the previous 724 billion CHF level could signal intervention. **JPY** The yen weakened to most of its peers, except against the euro and the dollar. BOJ minutes and Governor Kuroda’s speech sent dovish vibes on a continuation of the central bank’s easy monetary policy. Earlier today, Japan’s average cash earnings figure came in better than expected at 0.9% versus 0.6% and the earlier 0.7% figure. **Commodity Currencies (AUD, NZD, CAD)** The Loonie drew a bit more support from rising crude oil prices amid the political purge in Saudi Arabia. Data also turned out better than expected as the Ivey PMI rose from 59.6 to 63.8 versus the consensus at 60.2. The RBA decision is coming up next and no changes to the 1.50% interest rates are eyed but traders are keen to find out if there was any shift in the central bank’s bias. BOC Governor Poloz has a speech coming up and New Zealand will have its GDT auction next. *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-nov-07-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-nov-07-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-nov-07-2017/", "headline": "Forex Major Currencies Outlook (Nov 07, 2017)", "inLanguage": "en", "datePublished": "2017-11-07T07:57:05+00:00", "dateModified": "2017-11-07T07:57:05+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Nov 07, 2017). USDThe. 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