FX.co ★ Trader Morning Coffee 29/11_what you need to know

Good morning everybody,

Thanksgiving Day has passed and American futures are fractionally down since yesterday's shortened and low-volume session (-0.2 / 0.3% on average).

We woke up with Germany's retail sales disappointing (0.8% ag 1.3% expected Y/Y, -1.9% m/m) and the rating agency FITCH warning that the "Japanification of Europe" (slow growth and high debt) could soon trigger downgrades on Sovereign Bonds.

By the way, tonight Mr Kuroda, Governor of the Bank of Japan, again advocated for new future monetary stimulus as 7 years of it has been largely unsuccessful and is a good idea not to lose the old vices. Ohh, monetarists!

Volatility is extremely low on all major currencies pairs. It is a good time for playing it through options I would say.

A bunch of data is due in the EU and Canada today. Let's have a look:

ECONOMIC DATA

1. FR Gdp 0.3% exp 0.3% previous 07.45 Gmt
2. IT Gdp 0.3% exp 0.3% previous 11.00 Gmt
3. IT Unemploy 9% exp 9% previous 09.00 Gmt
4. GE Unemploy 5% exp 5% previous 08.55 Gmt
5. EU Unemploy 7.5% exp 7.5% previous 10.00 Gmt
6. IT, FR, EU Consumer Prices
7. UK M4 Money supply 09.30 Gmt
8. CAD GDP 1.2 % exp 3.2% previous 13.30 Gmt

OVERNIGHT

- Asian equity markets were mostly subdued after the holiday closure stateside and amid continued trade uncertainty

- Hong Kong Polytechnic University siege was confirmed to have ended as police swept through a vacant but devastated campus yesterday

- Bank Of China sets USD/CNH mid at 7.0298 (always look at 7 barrier!) while affirming to have enough room for monetary action.

The OPEC countries will reach consensus to extend the pact on oil production cuts extension in Vienna according to OIL MINISTER OF OMAN

CITI AND BNP PARIBAS lowers OIL TARGET for next year at $50 BBL

- Data showed that 3Q earnings are now expected to decrease 4.4% YoY (up from -4.7% prior week)

That's all, stay safe