Yen Sinks on Upbeat Market Mood Before G20, Euro Eyes Draghi

TALKING POINTS – YEN, US DOLLAR, AUSSIE DOLLAR, G20, DRAGHI, EURO

  • Yen down, commodity currencies up on optimism before G20 summit
  • US Dollar lower as risk appetite firms, follow-through may be lacking
  • Euro might decline on dovish comments from ECB President Draghi

A chipper mood on most Asia Pacific stock exchanges was on full display in the G10 FX space as the trading week began. The perennially anti-risk Japanese Yen traded broadly lower while the sentiment-geared Australian, Canadian and New Zealand Dollars advanced. The Kiwi even shrugged off early data-driven losses to participate.

The burst of optimism may reflect an expectant mood ahead of this week’s G20 summit in Argentina. Investors are hoping that a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping may mark trade war de-escalation after months of tit-for-tat tariff hikes.

Central bank governors and finance ministers form the participating countries are beginning to gather today. Traders will be watching the incoming flow of commentary for any clues about the tenor of the discussions being had before heads of state due to join the fray on

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2018/11/26/Yen-Sinks-on-Upbeat-Market-Mood-Before-G20-Euro-Eyes-Draghi.html