# Forex Major Currencies Outlook (Nov 6, 2014) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-nov-6-2014/ Language: en Updated: 2014-11-06 Description: Explore Forex Major Currencies Outlook (Nov 6, 2014). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar advanced to the pound and most of its major counterparts in recent trading, as data from the US came in mixed. The ADP non-farm employment change figure saw a 230K gain versus the estimated 214K increase while the previous month’s reading was revised higher. The ISM non-manufacturing PMI showed a lower than expected reading though, as the figure fell from 58.6 to 57.1. Despite that, traders still seem to be gearing up for an upside NFP surprise later this week. For today, initial jobless claims and preliminary non-farm productivity and labor costs data are due. **EUR** The euro revisited its previous lows to the dollar, as euro zone retail sales showed a massive 1.3% decline instead of the projected 0.6% dip. The Spanish services PMI came in slightly weaker than expected while the Italian services PMI beat expectations. For now, traders might be bracing themselves for a downbeat ECB rate statement, although no actual changes are expected. Draghi might announce the actual scope and size of their ABS purchases, which many deem to be a form of quantitative easing. **GBP** The pound lost ground to its major counterparts when the UK printed a bleak services PMI reading. The figure fell from 58.7 to 56.2, reflecting a slower pace of expansion in the industry. The BOE is set to announce its monetary policy decision today and possibly keep rates and asset purchases unchanged. There is no press conference scheduled so traders might still wait for the minutes to be released a couple of weeks from now before deciding on their pound bias. **CHF** The franc gave up a bit of ground to the dollar despite better than expected CPI data. The report showed a flat reading instead of the projected 0.1% decline, easing deflation fears for a while. SECO consumer climate data is due today and a drop from -1 to -4 is expected, which would reflect increased pessimism. Other than that, the franc might also take its cue from euro price action for today. **JPY** The yen resumed its slide to its major counterparts, as the lack of data from Japan kept the currency weak. The BOJ minutes released earlier today seemed to spark another leg higher for yen pairs, as traders were reminded of the central bank’s dovish bias and deflation concerns. No other reports are up for release from Japan today. **Commodity Currencies (AUD, NZD, CAD)** The comdolls weakened to the dollar once more, weighed mostly by falling commodity prices. Apart from that, the Australian dollar lost ground earlier today as the jobs report reflected weakness in the sector, which saw downward revisions in previous data. Canadian Ivey PMI is up for release today and analysts are expecting to see an improvement from 58.6 to 59.2, which might be positive for the currency. *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-6-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-nov-6-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-nov-6-2014/", "headline": "Forex Major Currencies Outlook (Nov 6, 2014)", "inLanguage": "en", "datePublished": "2014-11-06T07:30:12+00:00", "dateModified": "2014-11-06T07:30:12+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Nov 6, 2014). USDThe US. 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