Forex news for US trading on Nov 10, 2015:

  • Kashkari to take over Minneapolis Fed
  • Fed's Kashkari called unemployment rate 'meaningless'
  • RBNZ's Wheeler: Declines to comment on NZD value and why that might matter
  • RBNZ financial stability report: Financial risks have risen
  • Fed's Kocherlakota will not participate in Fed's Dec meeting
  • October 2015 US import prices -0.5% vs -0.1% exp m/m
  • Bank of England's Cunliffe underscores slow pace of rate hikes
  • ESM's Regling boots idea of a Greek debt haircut into touch
  • September 2015 US wholesale inventories 0.5% vs 0.1% exp m/m
  • Economists get ECB stimulus backwards in poll
  • 70% of Reuters pollsters see a Fed hike in Dec
  • US treasury sec Lew says there are still international headwinds on US economy
  • SNB says yuan-franc direct trading will boost bilateral relations
  • S&P 500 up 3 points to 2081
  • Gold flat at $1090
  • WTI crude down 23-cents to $43.63
  • US 10-year yields flat at 2.34%
  • CAD leads, CHF lags

The ebb and flow of the US dollar was the story today. The dollar made some solid gains in the early going but gave much of the move back later.

EUR/USD was at 1.0725 at the start of US trading and within a couple hours hit 1.0675 in a one-way move. After touching just below that mark, it bottomed for the day and started to consolidate around 1.0685 and later started to climb back to finish at 1.0725.

USD/JPY pushed higher early and hit a session high just above 123.40. It took out resistance just above the European high but it was a false break and the pair then tried the downside, taking out the European low of 123.10. So far that's also proved to be a false move with the pair at 123.17.

Cable caught a quick bid as US traders started out and jumped 35 pips to 1.5145 but an our later the gains were erased. It was choppy trading from there around 1.5115.

AUD/USD was the directional move of the day. it sold early in declines in copper and metals along with concern about China. The steady move broke last week's low to a fresh one-month low of 0.7017. But it didn't push further from there, bouncing back to 0.7031.

USD/CAD was largely headed lower as CAD outperformed AUD. Oil was moderately higher early but later fell of API data. USD/CAD traded in a 1.3295 to 1.3245 range, hitting both a session high and low in North American trading.

The kiwi initially fell on worrisome headlines about China and housing in the financial stability report but when Wheeler didn't mention NZD it rebounded and climbed to 0.6450 from the spike low of 0.6401. That might have been a misread signal however, and NZD is back where it started.