Here is what you need to know on Tuesday, November 19: In the absence of high-tier data releases, the US Dollar (USD) corrected lower to start the week.
Here is what you need to know on Tuesday, November 19: In the absence of high-tier data releases, the US Dollar corrected lower to start the week. The action in financial markets remain choppy early Tuesday as investors await Bank of England's Monetary Policy Hearings. Later in the day, Consumer Price Index data from Canada will be watched closely by market participants. The US economic docket will feature Building Permits and Housing Starts figures for October.
USD/JPY closed marginally higher on Monday before retreating to the 154.50 area early Tuesday. BoE Governor Bailey and other members of the Monetary Policy Committee will respond to questions before the Treasury Committee starting at 10:15 GMT. GBP/USD snapped a six-day losing streak on Monday but lost its bullish momentum before reaching 1.2700. EUR/USD gained more than 0.5% on Monday before going into a consolidation phase at around 1.0600 early Tuesday.
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