Forex Today: Powell and the labour market should keep investors entertained

Here is what you need to know on Thursday, November 14: The US Dollar Index rose to YTD highs north of 106.50, always on the back of the Trump-infused rally and mixed US yields. US inflation data will remain in centre stage with the release of Producer Prices for the month of October, seconded by the usual weekly Initial Jobless Claims and the EIA’s report on US crude oil inventories. In addition, the Fed’s Barkin, Powell, and Williams are due to speak.

The RICS House Price Balance index will be published along the speech of the BoE’s Bailey and the Mansion House speech by Chancellor Reeves. USD/JPY surpassed the 155.00 barrier to print new four-month highs and extend its positive performance so far this week. The weekly Foreign Bond Investment figures will be unveiled. Extra weakness in commodity prices put AUD/USD under extra pressure and motivated it to put the 0.6500 support to the test.

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