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USD/CNH: Likely to trade in a range between 7.1200 and 7.1300 – UOB Group

Momentum indicators are mostly flat; US Dollar (USD) is likely to trade in a range between 7.1200 and 7.1300. In the longer run, USD has likely entered a range-trading phase between 7.1120 and 7.1330, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD has likely entered a range-trading phase

24-HOUR VIEW: "We noted 'a slight increase in downward momentum' last Friday, and we were of the view that it 'is likely to lead to a lower range of 7.1170/7.1280 rather than a sustained decline'. However, USD traded within a tight range between 7.1226 and 7.1268, closing largely unchanged at 7.1247 (+0.04%). Momentum indicators are mostly flat and today, we expect USD to trade in a range, most likely between 7.1200 and 7.1300."

1-3 WEEKS VIEW: "Not much has changed since our update from last Friday (07 Nov, spot at 7.1230). As highlighted, USD 'has likely entered a range-trading phase, and for the time being, we expect it to trade between 7.1120 and 7.1330'."

NZD/USD: Likely to trade in a range between 0.5610 and 0.5645 – UOB Group

New Zealand Dollar (NZD) is likely to trade in a range between 0.5610 and 0.5645. In the longer run, positive divergence suggests waning downside momentum; a breach of 0.5660 would mean that weakness in NZD has stabilized, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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Fed’s Daly: Looking to see if productivity gains continue

President of the Federal Reserve Bank of San Francisco Mary Daly spoke in an interview with Bloomberg Television on Monday regarding inflation and monetary policy. She mentioned that inflation has remained relatively stable in terms of goods prices.
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