The second reading for annualized Q3 GDP for the US was out at 3.2%, improving from the previous reading of 2.9%. US Consumer confidence for November surged to 107.1 after a previous 100.8 in the previous month.
US Dollar expereinced a 4th consecutive day in which it was unable to attain higher levels as it took a breather from its November rally. US Dollar index, an index measuring the USD against a basket of other currencies, is currently at 101.10 after peaking to highs of 102.05 last Friday.
Later today we are expecting to see wether OPEC members will manage to strike a deal and agree on production curbs. Oil prices have been through a nervous patch in awaitance for the outcome of the said meeting.
This morning the USD recovered back some of the lost ground against the euro and the JPY however we’re not far off from levels seeen yesterday.
On today’s economic docket we have German Unemployment, US Personal Expenditure, and Canadian GDP. Traders will also be following a Mario Draghi Speech today at 1330 CET, and an OPEX Press Conference at 1600 CET.
