Yesterday's trading session was rather calm with no much change, as the US dollar remains weak and fragile against majors. Today investors await a number of scheduled fundamentals from the European Continent, as they are looking out for this week's rate decisions from both the BoE and the ECB. The this morning is trading around 1.4505, sterling fluctuating at 2.0840, and as for the Japanese Yen it continued its decline against the US dollar taking the pair to 114.65 levels.
The Euro recorded its lowest today at 1.4468 at the beginning of the Asian session this morning then inclined to set the highest at 1.4515; the economic calendar has a lot of EU data for us today, Germany's October Services PMI expected at 54.9 up form 53.1 previous. While prices at the factory gates are coming for the Euro Zone for the month September expected with a gain of 0.4% on the month and 2.6% on the year; we also have the retail sales for the same month and finally we end it with Germany's Factory Orders expected to rise to 6.5 percent.
Sterling recorded its lowest this morning at the beginning of the session today at 2.0805 then inclined to record the highest at 2.0855.
The Japanese yen on the other hand resumed the downside trend against the dollar as the pair recorded its lowest at 114.28 in the early hours then inclined to record a high of 114.76 and that's until the hour of this report.